2024-02-17 08:37:20 ET
Summary
- DBS Group has increased its dividend five times since March 2020, with a 200% increase.
- Q4 and FY 2023 financial results show record earnings and improved ROE for DBS Group.
- DBS Group's NIM may continue to decline, but higher fees and commission income offset the lower interest income.
- Valuation points to a fair value, however, we are holding off from adding to our position.
Investment Thesis
We titled our previous article on DBS Group ( DBSDF ) ( DBSDY ) “A Good Place To Be Invested For Dividend Safety”, as that was our conclusion at the time.
South East Asia’s largest bank, DBS has exceeded our expectations in terms of being shareholder-friendly. Since we bought in, which was in March of 2020, the bank has increased its dividend five times. An increase from Singapore cents 18 to 54 cents. That is 200% higher. At the end of 2022, they also gave a special dividend of 50 cents....
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DBS Group Is The Stock That Keeps On Giving