Singtel shares close 3.1% lower after stock goes ex-dividend, Optus stake sale on cards

[SINGAPORE] Shares of telco giant Singtel ended 3.1 per cent down at S$4.44 on Friday (Jul 31) as the stock went ex-dividend, coinciding with multiple developments linked to its wholly owned Australian subsidiary Optus.

The counter fell S$0.17 to a low of S$4.41 within the first few minutes of market open. However, S$0.103 of this decline is attributed to the stock going ex-dividend for its upcoming August payout.

Accounting for this mechanical price adjustment, the net drop was a much milder S$0.067.

The market movement follows news on Thursday that the Australian Communications and Media Authority had filed proceedings against Optus in the Federal Court of Australia. The regulator alleges that Optus breached several provisions of the Telecommunications (Emergency Call Service) Determination 2019 on 1,005 occasions on Sep 18, 2025.

Separately, Singtel confirmed on Thursday that it is in discussions with “interested parties” to sell a minority stake in Optus.

The Australian Financial Review (AFR) reported on Wednesday that New Zealand-based infrastructure investor Morrison was in talks to buy a slice of more than 30 per cent, valued at over A$2 billion (US$1.4 billion). Morrison has also secured a seven-week exclusivity period to finalise the potential purchase, according to the AFR.