Full year 2014 results – DBS, OCBC, UOB, Keppel Corp and others (Part 1)

Companies were reporting their financial results for the full year ended 31 December 2014.

The following table provides information on net profit attributable to shareholders for the full year and year-on-year change between current period in 2014 against corresponding period of 2013. The dividends are the ones declared for the current quarter (final dividends + special dividends for companies).

Company (‘$) Net Profits Y-o-Y Change % EPS NAV/RNAV Q4 Div
DBS 4.046 b 10.0 1.630 14.85 0.30
OCBC 3.842 b 39.0 0.919 9.53 0.18
UOB 3.249 b 8.0 1.98 19.73 0.55
Keppel Corp 1.885 b 2.1 1.038 5.73 0.36
SembCorp Marine 560 m 0.8 0.2683 1.419 0.08
M1 175.8 m 9.7 0.189 0.424 0.119
Comfort Delgro 283.5 m 7.7 0.1329 1.0236 0.045

NAV/RNAV = Net Asset Value or Revalued Net Asset Value
EPS = Earnings per share

OCBC saw its net profits rising 39% over last financial year. DBS was 10% and UOB was 8%. M1 and Comfort Delgro had profits increasing by 9.7% and 7.7% respectively.

The following table shows Price-Earning Ratio (PE), Price-to-Book (PB) Ratio, Total Dividend Yield and Total Dividend Payout %.

Company S/H Price 12-2-15 PE Ratio PB Ratio Total Div yield Div Payout %
DBS 19.35 11.87 1.30 3.00% 36%
OCBC 10.53 11.46 1.10 3.42% 39%
UOB 23.40 11.82 1.19 3.21% 38%
Keppel Corp 8.61 8.29 1.50 5.57% 46%
SembCorp Marine 2.99 11.14 2.11 4.35% 48%
M1 3.88 20.53 9.15 4.87% 100%
Comfort Delgro 2.98 22.42 2.91 1.51% 34%

The three local banks were quite similar in PE Ratio. As for PB ratio, there are some variations with OCBC having the lowest at 1.10. OCBC has the highest dividend yield among the banks.

When comparing total dividend yield for the whole year, Keppel Corp stands out at 5.57%, followed by M1 and SembCorp Marine. (Dividend Yield is computed from taken total dividends for the whole year divided by share price on 12 February 2015.)

In terms of total dividend payout ratio (%), M1 pays out 100% of EPS as dividend. The other companies pay out dividend ranging from 34% to 48% of EPS. These companies were rewarding shareholders with dividends year after year.

Copyright © 2015, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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