[ad_1]
The Singapore Stock Exchange (SGX) reported a 1.8% drop in net income for the fourth quarter, to $ 83.67 million over the previous year. This is due to a 6% increase in operating expenses, largely due to legal fees incurred as a result of the interim injunction filed by the National Stock Exchange of India (NSE) to prevent the company from entering the country. stock trader to launch new derivatives in India.
SGX also announced that it would change its dividend policy from a percentage based percentage (80% of net profit) to an absolute amount of 7.5 cents per quarter from the year before. Next year, which represents an increase of 2.5 cents per quarter. The current policy provides for a basic dividend of five cents per share on a quarterly basis.
"The new policy will provide SGX with the flexibility to balance dividend payments with the need to maintain earnings to support growth," said Chng Lay, Chief Financial Officer of SGX. He added that the new policy does not mean dividends can not increase as the board will consider higher dividends in good years.
Conversely, when times are bad, he said that the board intends to maintain the dividend policy, since its earnings are "fairly well diversified" and have been consistent over the years. SGX has proposed a final dividend of 15 cents per share against 13 cents previously. This brings the total dividend of the year to 30 cents per share, up from 28 cents for fiscal 2017. If approved, it will be the highest annual dividend in 10 years.
"We recognize the need to reward shareholders and we also want to retain some of the benefits to continue our growth," said Loh Boon Chye, CEO of SGX. referring specifically to the group plan to consolidate its position as a multi-asset exchange that includes the development of a digital market in the global freight industry
The figure of Business for the quarter ended June was up 2.5% to $ 212.95 million. one year ago. Earnings per share were 7.8 cents for the period under review, compared with 800 cents for the corresponding quarter in 2017.
-
IN BRIEF (Q4)
-
INCOME : 212.95 million $ (+ 2.5%)
-
NET PROFIT: $ 83.67M (-1.8%)
Income from equities and fixed income declined 0.6% to settle at $ 23 million while they grew 4.1% to $ 85 million and nearly 12%
For the full year, the Stock market operator posted a high net profit of five years and $ 363.2 million, up 6.9%. This increase is attributable to a 5.5% increase in revenues, which amounted to $ 844.68 million, a record number since its registration in 2000.
"The three main activities recorded higher revenues high. -year high, with the number of bond lists and derivatives trading volumes reaching record highs, "said Mr. Loh.
[ad_2]
Source link
