So I was reading this article from Beansprout recently. The article is titled “UOB offers lowest dividend yield amongst local banks. Switch to DBS?” It explains how UOB pays the lowest dividend yield compared to OCBC and DBS bank. And the conclusion was that “Against this backdrop, we would still look at the Singapore banks more for their dividend yields rather than expectations for better earnings prospects in 2024…. Hence, DBS may appear to be a better option compared to UOB if we are looking to hold on to the Singapore banks for their dividend payment.” Wow… a lot to unpack there. Now the market is usually pretty efficient. So the fact that you can sell UOB and buy DBS to get a higher dividend yield. Strikes me as a “free lunch”. If things were truly so simple – why is anyone still holding UOB stock at this stage? So I decided to do a deeper dive, to understand...