Excluding the impairment charges, Singtel's underlying net profit rose 10 per cent to $2.26 billion.SINGAPORE — Singtel on May 23 posted a 64 per cent drop in full-year net profit hit by a previously-announced $3.1 billion impairment charge, most of which came from its Australian subsidiary Optus.
It pushed Singtel into the red for the fiscal second half year with a net loss of $1.3 billion, compared with a net profit of $1.1 billion in the same period a year earlier. Also on May 23, Singtel announced that it has added a new "value realisation dividend" of three cents to six cents per share per annum, on top of the core dividend, to increase shareholder returns over the medium term.
The VRD comes from excess capital from the group's capital-recycling programme and includes a further $6 billion in assets that Singtel has identified that it could potentially monetise over the medium term, in addition to the $8 billion it has already recycled in the last three years.
Source: News Formal (newsformal.com)
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