🌟🌟🌟I am so happy to receive my DBS Bonus shares today into my Tiger Account. On February 7 $DBS GROUP HOLDINGS LTD(D05.SI)$
DBS has also proposed a final dividend of 54 cents per share for Q4 23, an increase of 6 cents from the previous payout. This brings the dividend for 2023 to SGD 1.92 per share, an increase of 42 cents from 2022.
On top of that DBS said that the bonus shares will qualify for dividends, starting from Q1 24 and will increase the pace of capital returns to shareholders.
So the annualised dividend will be SGD 2.16 per share over the enlarged share base from SGD 1.92 per share for Financial year 2023.
Since then DBS share price has been on an upward momentum. It is up 0.61% for the past 5 days and has jumped 15.3% year todate. In 2023, DBS has risen by 16.5%.
DBS is set to report its Q1 24 earnings on May 2.
Growth of DBS assets under management has been healthy and improved market sentiment may allow for better wealth management opportunities and help drive the double digit fee income growth guided for 2024.
Analysts are Bullish on DBS with a Buy Rating, Target Price between a high of SGD 43.25 from UOB Kayhian to a low of SGD 35.45 from OCBC Investment.
DBS is not only the largest bank in Singapore by Assets Under Management. It is also the largest in South East Asia.
With a current dividend yield of 6.2%, DBS has rewarded me with generous dividends. Best of all DBS has been hitting new all time highs at SGD 34.90 since it went ex bonus shares on April 22.
That is why DBS is my favourite Singapore bank stock and my holding period is Forever.
Go Long Go Strong Go DBS!
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Best bank in SG