Singtel's FY2024 earnings down 64% y-o-y to $795 mil, boosts full year dividend to 15 cents; announces new growth plan
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 22 2024
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Source: Yahoo Finance
- Singtel's Financial Performance: Singtel reported a net loss of $1.34 billion for 2HFY2024 due to impairments on Optus and NCS, with full-year earnings down 64% year-on-year.
- Dividend Increase: Despite the loss, Singtel plans to increase its total FY2024 payout by 52% compared to FY2023, marking the third consecutive year of dividend increases.
- New Growth Plan - ST28: Singtel introduced a new growth plan called ST28 focusing on enhancing customer experiences, value realization, and business performance through various strategies.
- Asset Recycling and Capital Management: Singtel aims to raise $6 billion through asset recycling in the next three years and will continue smart capital management to fund core and growth businesses sustainably.
- Market Response: Singtel shares closed at $2.40 on May 21, reflecting a slight decrease for the day and a 2.04% decline year-to-date.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
