Singapore Stock Market News

Vicom Limited - Positive dividend surprise

StockFanatic
Publish date: Tue, 10 Feb 2015, 02:34 PM
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Results in-line
Vicom continued to perform as expected. FY14 revenue of S$108.2m (+3% yoy) formed 99% of our revenue estimate, while net profit of S$30.1m (+6% yoy) formed 100% of our net income projection for FY14. However, the declaration of a final dividend of 8.75 Scts plus 9.5 Scts special dividends, surprised us on the upside as we were previously expecting only 5 Scts of special dividends. This brings Vicom's FY14 full year DPS to 27 Sct (payout ratio of 79.4%) vs. 22.5 Scts for FY13 (payout ratio of 70%).
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