DBS' share price reached an all-time high after its reported a record first quarter profit and raised its dividends. We find out if DBS is still worth considering for dividend investors.
What happened?
DBS’ share price has been scaling new heights.
Its share price has climbed steadily to reach an all-time high of $36.00, after the company announced a record full year profit and an increase in dividends in 2023.
I must highlight that this share price of $36.00 is after adjusting for its recent bonus issue.
This would also make DBS the first Singapore-listed stock to exceed a market capitalisation of S$100 billion.
Looking at its performance year-to-date, DBS has gained close to 20%, far exceeding the Straits Times Index’s gain of 2%.
DBS has also performed better than UOB and OCBC so far this year.
More recently, DBS reported a record high first quarter net profit of $2.96 billion, an increase of 15% compared to the previous year. DBS also achieved another record high ROE of 19.4%....