Dividends
Dividends and other shareholder distributions
The Directors have proposed a final dividend of 10.7 cents per share (FY2016: 10.7 cents per share), totaling approximately S$1.75 billion in respect of the financial year ended 31 March 2017. The final dividend is subject to shareholders’ approval at the Annual General Meeting.
Together with the interim dividend of 6.8 cents per share amounting to S$1.11 billion paid in January 2017, the total amount of ordinary dividends in respect of the financial year ended 31 March 2017 would be 17.5 cents per share (FY2016: 17.5 cents per share), totaling approximately S$2.86 billion. This represented a payout ratio of 73% of underlying net profit.
Dividend Policy
Singtel's dividend payout ratio is between 60% to 75% of underlying net profit. The Group remains committed to an optimal capital structure and investment grade credit ratings, while maintaining financial flexibility to pursue growth.
History of dividends and other distributions to shareholders
Singapore cents per share
| Financial year ended 31 March | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Final ordinary dividend | 10.0 | 6.5 | 6.9 | 6.9 | 8.0 | 9.0 | 9.0 | 10.0 | 10.0 | 10.7 | 10.7 | 10.7 |
| Special dividend | - | 9.5 | - | - | - | 10.0 | - | - | - | - | - | - |
| Other distributions** | 13.7 | - | - | - |
- | - | - | - | - | - | - | - |
| Total | 23.7 | 20.5 | 12.5 | 12.5 | 14.2 | 25.8 | 15.8 | 16.8 | 16.8 | 17.5 | 17.5 | 17.5 |
* 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.