Out of the 6 companies on my watchlist that declared dividends last week, 3 met my expectations and 3 didn’t. Hence, I called it an “Ok” dividend week. Amongst them, SGX was the bright spot, springing a surprise by raising its first quarter dividend from 5 cents to 7.5 cents.
I am just wondering what SGX objective is. While I am hoping that this is a signal that SGX will raise its dividend distribution, my practical mind tells me that it is probably not. Their 30 cents dividend for last year was the highest that it has ever declared. So, it may be too idealistic to expect another record dividend distribution so soon. In most likelihood, they are spreading out the 30 cents dividend over 4 quarters, hence 7.5 cents each. But if they are going to increase dividends, I am not complaining.
At $6.90 a share, SGX is trading at 4.35%