DBS reported stellar full year 2023 results.
Net profit rose 26% to S$10.3 billion.
Return on equity improved from 15% to 18%.
2023 saw a 22% increase in total income largely due to higher net interest margin, fee income and treasury customer sales.
A final dividend of 54c was proposed and this is 6c higher than before.
2023 full year dividend at $1.92.
DBS is also proposing a bonus share issue of 1 share for every 10 shares.
Bonus shares will qualify for dividends from 1Q 2024.
Assuming DPS stays the same, this will boost dividend received by 10% in 2024!
My decision to add to my investment in DBS in November last year was fortuitous.
This makes me happy.
Mr. Market seems to like the news as well as DBS share price has gone up by 2.6% so far today....
