SINGAPORE (June 5): Singtel’s shareholders, having gotten used to the telco’s relatively generous dividends over the years, received an unexpected piece of news when its latest results were announced. For the FY2020 ended March, the company plans to pay a final dividend of just 5.45 cents per share, down from 10.7 cents in the previous few fiscal years. This will bring the total FY2020 dividend to 12.25 cents per share, versus 17.5 cents per share that was distributed in FY2019. Still, the dividend payout of 12.5 cents per share represents a payout ratio of 81% of Singtel’s FY2020 underlying net profit, or about $2 billion.

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