MAS Just Surprised Everyone Again. Here's What It Means For Your REITs.🦖
MAS Just Surprised Everyone Again. Here's What It Means For Your REITs.🦖
🔍 The Angle
Singtel just paid out a record 18.5 cents in dividends, but only 13.4 cents came from the actual telco business, the rest was funded by asset recycling. When I lay the payout next to the cashflows and debt, the story looks very different from the “strong blue chip” label most of us grew up with. The numbers say your income is leaning on transactions that cannot repeat forever.
💰 What It Means For You
If you are using Singtel to fund S$300 a month of CPF or SRS income, part of that cashflow now depends on value realisation dividends that can shrink once the asset sales slow. The moment you strip those out, the organic yield sitting on your shares drops below the level most retirement plans quietly assume, which is why this episode lands Singtel in Iggy's Forensic Zone: Zone 4, Caution. The goal is not to scare you, it is to make sure your future kopi money is built on core earnings, not one-off deals.
📺 YouTube: https://youtu.be/oSisBo71fQI
📩 Substack: https://investingiguana.com/p/mas-just-surprised-everyone-again
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