KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia closed marginally lower on Friday, as cautious sentiment persisted, with investors remaining on the sidelines amid ongoing conflicts in West Asia, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.80 points, or 0.16 per cent, to 1,695.50 from Thursday’s close of 1,698.30. The benchmark index opened 5.82 points higher at 1,704.12, and moved between 1,693.65 and 1,708.12 throughout the day. However, market breadth remained positive, with gainers outnumbering losers 634 to 415, while 521 counters were unchanged, 1,077 untraded and 10 suspended. Turnover improved to 3.38 billion units worth RM2.95 billion from yesterday’s 3.20 billion units worth RM3.50 billion.
Strong Financial Performance
- OCBC Bank reported a record net profit of S$7.59 billion (US$5.68 billion) in 2024, up from S$7.02 billion in 2023.
- Total income surged to S$14.47 billion, driven by:
- Net interest income of S$9.76 billion (up from S$9.65 billion).
- Non-interest income of S$4.72 billion, a significant rise from S$3.86 billion.
Capital Return & Dividends
- OCBC plans to return S$2.5 billion to shareholders over two years via:
- Special dividends worth 10% of net profit for 2024 & 2025.
- Share buybacks.
- Dividends for 2024:
- Final ordinary dividend of 41 Singapore cents per share, bringing total ordinary dividends to 85 cents per share.
- Special dividend of 16 cents per share, pending approval at the 2025 Annual General Meeting (AGM).
Outlook & CEO’s Remarks
- CEO Helen Wong remains "cautiously optimistic" about regional growth in 2025.
- OCBC aims to capitalize on market opportunities while managing economic uncertainties.
Summary:
- OCBC posted a record S$7.59 billion net profit in 2024, fueled by strong banking, wealth management, and insurance income.
- S$2.5 billion capital return planned through special dividends & share buybacks.
- 2024 total dividend payout reaches 85 cents per share, plus a proposed 16-cent special dividend.
- OCBC maintains a positive but cautious outlook for 2025.
Comments
Post a Comment