DBS proposes bonus share issue for shareholders

The bank plans to give one bonus share for every 10 ordinary shared held.

DBS’ board has proposed a bonus issue for its current shareholders.

In its latest financial report, DBS proposed giving one bonus share to shareholders for every 10 ordinary shares they hold.

The bonus shares will qualify for dividends starting the Q1 2024 interim dividend. DBS expects it to “increase the pace of capital returns to shareholders.” 

DBS expects that the annualised ordinary dividend will be S$2.16 per share over the enlarged share base, a 24% increase from 2023.

Meanwhile, based on the closing share price on 6 February 2024, the post-bonus annualised dividend yield would be 7.5%, the bank added.

The stepped-up capital returns reflect the Group’s strong capital position and are in line with the policy of paying sustainable dividends that rise progressively with earnings.