Singtel has returned to the black with S$2.8 billion net profit for its second half
[SINGAPORE] Shares of Singtel rose on Thursday (May 22) morning after the telco giant announced a final dividend of S$0.10 per share and initiated its first share buyback programme of up to S$2 billion.
As at 9.12 am, the counter hit an intra-month high of S$3.95, 2.6 per cent or S$0.10 higher than its Wednesday closing price of S$3.85, with 11.4 million shares changing hands. This was the highest price it had risen to through the month of May.
By 9.57 am, it had eased back down to S$3.93, still up by 2.1 per cent or S$0.08, with 17.3 million shares transacted.
On Thursday, Singtel returned to the black with S$2.8 billion net profit for its second half ended March and proposed a final dividend of S$0.10 per share.
It also announced its maiden share buyback programme whereby it plans to repurchase as much as S$2 billion worth of shares in the open market as part of its capital management strategy. The repurchased shares will be cancelled.
Copyright SPH Media. All rights reserved.
