Dividends
Dividends and other shareholder distributions
Singtel has proposed a final dividend of 10.7 cents per share, totalling approximately S$1.75 billion. Subject to shareholders’ approval, the final dividend is expected to be paid on 13 August 2018. Together with an interim ordinary dividend of 6.8 cents paid in January 2018, ordinary dividends would amount to 17.5 cents for the financial year ended 31 March 2018. This represents a payout ratio of 81% of underlying net profit, above Singtel’s dividend policy of 60-75% payout.
Further, with a special dividend of 3.0 cents per share paid in January 2018, total dividend per share for the financial year ended 31 March 2018 was 20.5 cents.
Dividend Policy
Singtel is committed to delivering dividends that increase over time with growth in underlying earnings. Its dividend payout ratio is between 60% and 75% of underlying net profit. Singtel is also committed to maintaining an optimal capital structure and investment credit grade ratings.
Barring unforeseen circumstances, it expects to maintain its ordinary dividends at 17.5 cents per share for the next two financial years and thereafter revert to the payout ratio of between 60% to 75% of its underlying net profit.
History of dividends and other distributions to shareholders
Singapore cents per share
| Financial year ended 31 March | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interim ordinary dividend | 4.5 | 5.6 | 5.6 | 6.2 | 6.8 | 6.8 | 6.8 | 6.8 | 6.8 | 6.8 | 6.8 | 6.8 |
| Final ordinary dividend | 6.5 | 6.9 | 6.9 | 8.0 | 9.0 | 9.0 | 10.0 | 10.0 | 10.7 | 10.7 | 10.7 | 10.7 |
| Special dividend | 9.5 | - | - | - | 10.0 | - | - | - | - | - | - | 3.0 |
| Other distributions** | - | - | - | - |
- | - | - | - | - | - | - | - |
| Total | 20.5 | 12.5 | 12.5 | 14.2 | 25.8 | 15.8 | 16.8 | 16.8 | 17.5 | 17.5 | 17.5 | 20.5 |
* 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.
** Singtel undertook capital reduction exercises in 2004 and 2006.
To learn more about Singtel's past capital management initiatives - see Capital Reduction 2006 and Capital Reduction 2004.