Singtel continues to show weakness with yet another set of disappointing results.
For the three-month period ending Dec 2018, EPS declined from 5.88 cents to 5.04 cents. In other words, the EPS for the full year may decline to 20.12 cents.
If so, the expected dividend payout after the 2020 may decline to 12 cents to 15 cents a share. At current share price ($3), this translates to a yield of 4% to 5%. To be fair, this is by no means terrible for a blue chip stock, but it is a far cry from its current 17.5 cents a share dividend.
A critical factor for the continued weakness was attributed to fierce competition in India (Bharti Airtel), which posted losses. It further did not help that Singtel's ID and TH associates also posted lower profits due to "handset subsidies and advertising".
I believe Singtel continues to be a long term value play, primarily...