Companies engage in a variety of methods to add value and enhance returns for their shareholders. Some may engage in share buybacks or dole out higher levels of dividends. Others may engage in acquisitions to augment the capabilities and regional reach of the business. Yet others choose a less conventional method — spinning off a segment or division within the company that promises to unlock value for shareholders. Boustead Singapore Limited (SGX: F9D) executed this transaction back in 2014 when it spun out shares of its real estate solutions division Boustead Projects Limited (SGX: AVM) as a dividend-in-specie (i.e. a dividend given out in shares rather than cash). In recent months, other companies such as Olam Group Ltd (SGX: VC2), Yangzijiang Shipbuilding (SGX: BS6), or YZJ, and LHN Limited (SGX: 41O) have joined the bandwagon. Do such corporate exercises help to unlock value for shareholders? Let’s take a closer look....