As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Thursday, 29 July 2021

Yield of dreams: Investors have "a once in a lifetime opportunity" in blue chips (15)

Read? Yield of dreams: Investors have "a once in a lifetime opportunity" in blue chips (14)

Address by Mr Loh Chin Hua, CEO of Keppel Corporation 

FIRST HALF ENDED 30 JUNE 2021

Good evening. Welcome to the webcast on Keppel Corporation’s first half 

2021 results and performance.

.....

We recognise that dividends are important to our shareholders. I mentioned earlier that some of the funds unlocked from our asset monetisation programme could be returned to shareholders over time. In appreciation of the support and confidence of our shareholders, the Board of Directors has approved an interim cash dividend of 12.0 cents per share for 1H 2021, after ringfencing the impairments related to KrisEnergy’s liquidation. This interim dividend, which will be paid to shareholders on 19 August 2021, is significantly higher than last year’s interim dividend of 3.0 cents and also higher than the interim dividend of 8.0 cents declared in 2019, reflecting the Board and management’s confidence in our vision and strategy.

-----------------------------------------------------------------------------------

Walau!

Uncle8888 is expecting $0.04 to $0.05!

Shiok man! Total dividend for 2021 = $0.07 + $0.12 = $0.19

The days of oily and smelly Kep Corp is over!

Average annual yield for Kep Corp (2001) is 26% p.a. for 20 years! 

Buy and Hold for home bias Koala/Panda retail investor in local SGX!
























17 comments:

  1. With more asset recycling ahead, can 1H 2021’s dividend per share (DPS) be used as a
    benchmark for 2H 2021 or is it a one-off generosity?
    LCH: Well first of all, I am glad that you find the interim dividend attractive. Of course, we will
    have to look at the full year results. As you know, we do not have a dividend policy, but we have
    typically been paying around 40 to 50/60% of net profits. Of course, with the monetisation
    programme, we can afford to be a little bit more open-minded in terms of returning capital to
    shareholders to reward them for their patience and for investing in Keppel Corporation.

    ReplyDelete
    Replies
    1. Congrats CW!

      Nice to see you happy :)

      You definitely qualify as patient and loyal long tine Keppel shareholder!


      Delete
  2. Hi Uncle8888,

    Next up will be your DBS dividends as big daddy has given the banks go ahead to restore distributions.

    Another bonus on top of share price recovery! :)

    ReplyDelete
  3. You are really a hard core fan of Keppel. I bought a bit last year after following your blog for a while. Lol.

    ReplyDelete
  4. Again remind me if i had invested your style, what would be the difference?

    U know i started in 1987/1988 b4 and i had IPOs DBS LAND,(b4 CPL existed) SGX, & had B/S Keppel Corp, Semb Corp, NOL, etc.. at least 3BB cycles.

    So any style can or will work but not keep on swinging like a pendulum, lol.


    Lyrics

    England swings like a pendulum do

    Bobbies on bicycles, two by two

    Westminster Abbey, the tower of Big Ben

    The rosy-red cheeks of the little children

    Now, if you huff and puff and you finally save enough

    Money up to take your family on a trip across the sea

    Take a tip before you take your trip, let me tell you where to go

    Go to Engeland, oh

    Yes, even one - arm sword-man can money.

    ReplyDelete
    Replies
    1. Good old days anyhow buy also can make money, all taken private or over. DBS Land, C&C, Cerebos,Kepoel TatLee Bank, Far East Livingston. In the end got no stocks left.
      Recent years, anyhow buy high chance to lose money.

      Delete
    2. Any how buy also made money was true to a certain extent.

      Still U need common sense, patience and plenty of guts.

      And for believer, God Blessings and some non-believers, Lady Luck.

      Of course, some think it's always due to their IQ & Skill.

      Delete
  5. Dropping by to congratulate you on your Keppel win! One needs lots of conviction to hold for so long. Nice play :)

    ReplyDelete
  6. KEPPEL Corporation on Monday made a privatisation offer for Singapore Press Holdings' (SPH) non-media business through a scheme of arrangement. The deal values SPH at S$3.4 billion with Keppel's share of the deal totalling S$2.2 billion.

    Under the scheme, shareholders will receive a total consideration of S$2.099 per share. This will comprise cash of $0.668 per share, 0.596 Keppel Reit unit valued at S$0.715 per unit, and 0.782 SPH Reit units valued at S$0.716 per unit from a distribution in-specie by SPH.

    The scheme is subject to approval by SPH and Keppel shareholders, as well as other conditions and regulatory approvals.

    If the deal is approved, SPH, which publishes The Business Times, will be delisted and will become a wholly owned subsidiary of Keppel. Keppel will hold stakes of about 20 per cent in both SPH Reit and Keppel Reit.

    ReplyDelete
    Replies
    1. So is this good for Keppel shareholders? Any thoughts or analysis?

      Delete
    2. Temasek's left hand passes to right hand to unlock and synergize shareholder value. SPH is too small as listed entity so Temasek wins liao by passing to Big Brother, Keppel to take care! See how mkt reacts tmr. LOL!

      Delete
  7. You mentioned about the importance of return of capital to shareholders. With this
    transaction, half of the capital from the ongoing asset monetisation will be used. Does it
    change your view on near-term dividend payout to shareholders?
    LCH: The short answer, Rahul, is that when we monetise assets, as we have said before, it meets
    with our asset-light business model. It also allows us to reposition the portfolio for new growth
    initiatives. Keppel is still a growing business, so we would still need to invest in order to create
    new profits, to pay dividends in the future. So we cannot be just doing pure monetisation and
    returning all capital to shareholders. But having said that, you would note that for the first half, we
    have paid 12 cents interim dividend, and this is something that the market has taken a shine to.
    When the Board and the management recommended and deliberated on this interim dividend,
    clearly this deal was already very much in consideration. So we believe that with the asset
    monetisation that we have planned, and of course we would still need to execute them, but we
    are quite optimistic that the monetisation programme will continue to do well. It would allow us to
    pivot our portfolio into new growth engines. We think that there is enough headroom for us to
    consider other growth initiatives such as renewables and decarbonisation solutions. But there
    would also be the ability for us to improve our dividend payment to shareholders. We know
    dividends are very important to our shareholders. And of course, as we improve the quality of our
    earnings – and this transaction will improve the quality of our earnings by increasing the proportion
    of net income that is recurring - it would also give us a better platform to pay dividends to
    shareholders.

    ReplyDelete
    Replies
    1. Good for retirees. At one of Keppel Retail Shareholders Day, LCH noted that many of Keppel long time loyal shareholders are seniors and we know dividends are very important to our shareholders.

      Delete

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