Stocks to watch: DBS, UOB, Yangzijiang Shipbuilding, Sats, Venture Corp, Straits Trading

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Aug 7):

DBS : The local bank on Thursday announced that its net profit for the three months ended Jun 30 rose 1 per cent to S$2.82 billion, from S$2.79 billion in the same year-ago period. Net interest income was higher on strong deposit growth and balance sheet hedging; fee income and treasury customer sales rose to their second-highest quarterly levels. The earnings beat the S$2.79 billion consensus forecast slightly in a Bloomberg survey of six analysts. The lender declared an ordinary dividend of S$0.60 per share and a capital return dividend of S$0.15 per share for the period. This brings the quarter’s total dividend payout to S$0.75 per share, compared with the S$0.54 in the year-ago period. Its shares closed 1.3 per cent or S$0.61 higher at S$48.85 on Wednesday.

UOB : The lender announced on Thursday that its Q2 net profit was at S$1.34 billion, a 6 per cent decline from S$1.43 billion in the same period a year before, as net interest income eased on lower margins. This result missed the S$1.48 billion consensus estimate in a Bloomberg poll of six analysts. The bank declared an interim dividend of S$0.85 per share for the half year ended Jun 30, a decrease from S$0.88 in the year prior. In addition, a second tranche of UOB’s S$0.50 per share special dividend will be paid out to shareholders. Net interest income for the quarter also fell 3 per cent to S$2.34 billion, as net interest margin declined 14 basis points to 1.91 per cent, from 2.05 per cent the year before. Shares of UOB closed up 0.2 per cent or S$0.08 at S$36.45 on Wednesday.