Stocks to watch: DBS, Acrophyte Hospitality Trust 

THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 7):

DBS : Singapore’s largest lender beat estimates with record net profit crossing the S$3 billion mark for the first time at S$3.03 billion for its third quarter ended September, up 17 per cent year on year. It declared an interim dividend of S$0.54 per ordinary share on Thursday, to be paid out on or about Nov 25, bringing estimated total dividends payable to S$1.54 billion. The quarter’s earnings per share of S$4.21, up from S$3.64 in Q3 FY2023, is expected to get a “permanent lift” from DBS’ new S$3 billion share buyback programme that is part of its board’s capital management efforts, said deputy chief executive Tan Su Shan, who will succeed the incumbent Piyush Gupta upon his March 2025 retirement. Shares of DBS ended Wednesday S$0.06 or 0.2 per cent higher at S$39.15.

Acrophyte Hospitality Trust : Its net property income for the first nine months of fiscal year 2024 fell 4 per cent on the year to US$33.8 million, from US$35.2 million. On Thursday, the trust’s managers said the decline was mainly due to the absence of contributions from three disposed properties and lower revenue contribution from hotels affected by asset enhancement initiatives. Stapled securities of Acrophyte Hospitality Trust ended Wednesday flat at US$0.21.