DBS Group Holdings Ltd (SGX: D05), Oversea-Chinese Banking Corporation Limited (SGX: O39) and United Overseas Bank Ltd (SGX: U11) are three major listed banks in Singapore.
The trio of banks is popular among dividend investors here due to their stability in earnings and relatively high dividend yields.
Right now, let’s inspect the banks on the dividend front.
TL;DR: Analysing the Dividends of DBS, OCBC and UOB
From 2015 to 2019, DBS’ earnings have grown the fastest among the three banks (at a compound annual growth rate (CAGR) of 8.6%). During the same time frame, its dividend has climbed at a faster rate at 19.7%. This is explained by an increase in dividend payout ratio. In 2019, its payout ratio stood at 0.50, up from 0.35 in 2015. Similar trend seen from OCBC and UOB.