0542 GMT - StarHub is likely to see better margins and earnings from 2H, as the Singapore telecom company reaches the tail end of its DARE+ investment program, UOB Kay Hian analysts say in a note. This could be supported by ongoing realization of some DARE+ benefits and cost optimisation efforts, which may lead to higher dividends, they say. StarHub incurred about S$191 million of the S$270 million DARE+ investments by end 2023, the analysts note, adding that majority of the remaining S$80 million is likely to be spent by this year. The brokerage also estimates a 2024 dividend of about 7.9 Singapore cents a share, implying a "lush" dividend yield of around 6.7%. UOB KH keeps the stock's buy rating with a target of S$1.41. Shares are at S$1.22.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
May 09, 2024 01:42 ET (05:42 GMT)
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