(Sept 11): Shares in dormitory operator Centurion Corp traded ex-dividend on Sept 4 for a dividend of one cent a share, payable on Sept 15. The stock ended the day flat at 52 cents, giving it an indicated dividend yield of 3.85%. That is above the 3.25% yield of the benchmark Straits Times Index.
Analysts appear optimistic that the company will be able to sustain its dividend payout. Centurion’s recent 1HFY2017 results have beaten estimates, driven by the lease extension for its Westlite Tuas dormitory. The lease was due to expire this year but has been extended by nine months to end-January 2018. Any further extension of the lease will have to be worked out between Centurion and the Building and Construction Authority.