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SPH: Final dividend.

Tuesday, October 12, 2010

SPH is declaring a final dividend of 20c per share, comprising a Normal Dividend of 9c per share and a Special Dividend of 11c per share in respect of the financial year ended 31 August 2010. These dividends are on tax-exempt (one-tier) basis and will be paid on 23 December 2010. Together with the Interim Dividend paid during the year, total Dividend payout for FY 2010 will be 27c.

SPH remains my largest investment in a blue chip company. I continue to favour SPH amongst blue chip companies because of its generous dividend payouts.  At $4.22, the full year payout of 27c represents a 6.4% yield.

Highlights:
1. Net investment income of S$39.3m was a turnaround from a loss of S$6.2m for FY 2009.
2. Equity holdings consist mainly of M1and Starhub.
3. Paragon was revalued at S$2.28b as of Jul 2010.
4. Rental income increased by S$11.3m (9.2%) mainly from Paragon.
5. Final profit of S$154.2m was recognised for Sky@eleven, which obtained its Temporary Occupation Permit in May 2010.
6. Print advertisement revenue surged S$84.8m (13.1%) to S$733.1m.
7. Circulation revenue decreased by S$5.1m (2.4%).

See presentation slides here.

Related post:
SPH: Closing above $4.20.

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