Dividends

Dividends and other shareholder distributions

For the half year ended 30 September 2024, the Board approved an interim ordinary dividend of 7.0 cents, up 35% from 5.2 cents last year. This comprises a core dividend of 5.6 cents per share and a value realisation dividend of 1.4 cents per share, totalling S$1.16 billion.

A total dividend of 8.9 cents per share, comprising the interim ordinary dividend and second tranche of the FY24 value realisation dividend of 1.9 cents per share, will be made on 9 December 2024.

Dividend Policy 

Singtel is focused on a disciplined capital management approach of balancing investing for growth and delivering strong, sustainable total returns to shareholders while maintaining financial flexibility and investment-grade credit ratings. This is achieved through improving business performance and commitment to an asset recycling programme.

Barring unforeseen circumstances, Singtel plans to pay ordinary dividends comprising:

·       A core dividend at between 70% and 90% of underlying net profit, which will track business performance.

·     A value realisation dividend of 3 - 6 cents per share per annum over the medium term, funded by excess capital generated from asset recycling proceeds after investing in growth initiatives.

This policy will be reviewed periodically in line with the Group’s evolving business strategy and market conditions.

History of dividends

Singapore cents per share

The figures shown above are gross amounts, shown in Singapore cents per share, before deduction of applicable Singapore corporate tax. All dividends paid after the FY2007 interim ordinary dividends are one-tier exempt dividends without tax credits.

* The FY24 value realisation dividend will be paid in two tranches of 1.9 cents per share, together with the core dividends in August 2024 and December 2024.

** The FY25 interim value realisation dividend of 1.4 cents per share, will be paid in December 2024.

In addition to regular dividend payments, Singtel also undertook capital reductions in 2004 and 2006 to optimise its capital structure. To learn more about these capital management initiatives - see Capital Reduction 2006 and Capital Reduction 2004.

Find out more about Singtel's Scrip Dividend Scheme here.