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Singtel could pay special dividend following Netlink IPO

Jeffrey tan
Jeffrey tan10/9/2017 08:00 AM GMT+08  • 4 min read
Singtel could pay special dividend following Netlink IPO
(Oct 9): The last time Singapore Telecommunications rewarded shareholders with a special dividend, the telco was sitting on a pile of cash generated by healthy operations here and overseas. In FY2011 ended March, the company’s free cash flow swelled 19%
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(Oct 9): The last time Singapore Telecommunications rewarded shareholders with a special dividend, the telco was sitting on a pile of cash generated by healthy operations here and overseas. In FY2011 ended March, the company’s free cash flow swelled 19% y-o-y to a record $4.04 billion. Singtel declared a special dividend of 10 cents a share on top of its final dividend of nine cents and interim dividend of 6.8 cents. Collectively, this amounted to a cash distribution of $4.1 billion.

Singtel’s shareholders may be in for another bumper payout. Following its successful divestment of a 75% stake in Netlink NBN Trust, which completed an IPO in July, Singtel is expected to record a cash inflow of $2.2 billion in 2QFY2018, according to DBS Group Research. After accounting for various commitments, DBS reckons Singtel will have sufficient cash left over to reward shareholders beyond its guided payout of 60% to 75% of underlying earnings.

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