OCBC's share price fell even as the company reported an increase in profit and dividends. We find out if OCBC is worth considering for dividend investors.
What happened?
Investors seem to be disappointed with OCBC’s latest earnings release.
The company reported a record profit of $7.02 billion in 2023, an increase of 27% compared to the previous year.
OCBC also announced a final dividend of 42 cents, an increase from 40 cents a year ago.
Despite the strong headline numbers, OCBC’s share price fell by more than 2% to $13.00, after reaching a 52-week high of $13.45 recently.
This is in sharp contrast to DBS's share price, which jumped after it announced an increase in dividends and bonus share issue.
We dive deeper into OCBC’s earnings to find out more about the company’s prospects.
What you need to know about OCBC results
#1 – Net profit was below market expectations
OCBC reported a net profit of S$1.62 billion in the fourth quarter of 2023, an increase of 12% compared to the previous year....