SingPost Shares Up 1.8% as Maybank Securities Says It Could Declare Special Dividends in May
Singapore Post is likely to declare special dividends along with its full-year results in May, says Maybank Securities analyst Jarick Seet in a note.
After the postal and e-commerce logistics provider pares its Australian debt and the potential sale of its subsidiary, Famous Holdings, Seet expects around S$400 million-S$450 million in excess proceeds from the sale. This could be distributed as special dividends to shareholders, Seet says.
As end-2024, SingPost held about S$391.5 million in cash and Seet reckons that the company will not need to keep cash from the sales proceeds on its balance sheet. Maybank maintains the stock's buy rating and target price of S$0.77.
SingPost shares up 1.8% on Monday.
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