SingPost Soars 3.33% on Expectations of Special Dividend After Asset Sale

Stock Track
05/07

SingPost (S08.SI) shares are soaring 3.33% in intraday trading on Wednesday, following analyst expectations of a substantial special dividend. The stock's surge comes on the heels of a report from Maybank Securities suggesting that the company is likely to declare a special dividend of at least ten cents per share.

According to Jarick Seet of Maybank Securities, the potential special dividend is linked to the completion of SingPost's sale of its former Australia unit. The analyst maintains a "buy" rating on SingPost with a price target of 77 cents, emphasizing that investor focus should be on asset monetization and dividends rather than earnings.

While SingPost is expected to report "weak" FY2025 numbers due to higher costs in its domestic postal network and challenges in its international business, the prospect of a significant special dividend appears to be outweighing these concerns. Investors are eagerly anticipating the company's FY2025 earnings report, scheduled for May 15, which could potentially confirm the special dividend payout.

SingPost jumps 3.33% at 2:27 pm, May 7th.

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