DBS' share price has performed better than UOB and OCBC after it hiked its dividends. We find out what is driving greater investor optimism on DBS’ prospects.
What happened?
Singapore banks saw mixed performance after their full year results.
Despite reporting record high profits in 2023, it seems that not all investors were pleased with the results of DBS, UOB and OCBC.
Among the three local banks, DBS’ share price performed the best after its full year results, climbing to above S$34 per share at one point.
This would bring its share price gain to about 1% year-to-date, unlike what we saw in the previous quarter where its share price fell after reporting a record quarterly profit.
OCBC’s share price reached a 52-week high prior to its results, but fell after the company announced earnings that disappointed investors.
Like OCBC, UOB’s share price fell after it reported its results, giving up the gains that were seen earlier....