OCBC's 3.3% Yield Becomes 2.82% Once the Special Dividend Is Removed
OCBC's 3.3% Yield Becomes 2.82% Once the Special Dividend Is Removed
Sat 3 Oct 2026 | Longform
The Numbers
At 2 October prices, OCBC's trailing yield is 3.3% including a S$0.16 special dividend and 2.82% without it, below the 3.2% Forensic Floor. CapitaLand Investment's 4.88% clears the 4.7% hurdle, but its S$0.12 dividend has stayed flat since 2023. Sheng Siong's yield is 2.36%, though its payments rose about 18% over the year. A S$10,000 illustration published by Smart Investor on 22 September shows about 3.4%, while ordinary dividends alone produce about S$330 a year at 2 October prices. Iggy's Forensic Zone for OCBC is Zone 5, Red Zone, per the Ledger entry dated 7 September 2026. Today's piece puts three questions to each yield, and the three stocks answer them differently.
My Personal Take
Earlier today I wrote about a loan rate with two parts, and that I had been treating one Singapore yield as a stand-in for everything a borrower faces. It took me a while to see I had done the same with OCBC's 3.3%, reading one figure as one stream of income. It is at least two payments with different chances of returning. The special leaves the trailing window around late April 2027, so the screen will keep showing the larger figure until then. An OCBC final dividend that carries another special would change how I read that gap. 🦖
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Not financial advice. Iggy's Forensic Compliance Standards apply.tandards apply.
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