Q2 earnings reporting has already started. As usual, the first one off the block in my watchlist was SPH Reit and then followed by SPH. Being an income investor, the first thing that I looked out for was the dividend.

SPH Reit declared DPU of 1.41 cents close to that of the same quarter last year while SPH declared 5.5 cents, down 0.5 cents (or almost 9%) from 6.0 cents for the same quarter. I am disappointed with SPH’s reduced dividend. Many other investors also took issue with this reduced dividend as SPH share price was sold down from $2.54 before to 2.43 today, a drop of 4.3% in the space of a few days.

Looking back at the same period last year, after the release of their Q2 results, investors actually held the share price constant at about $2.55. Since the interim dividend declared then was 6.0 cents, the