Even blue-chip companies have not been spared.
On the media front, SPH has seen a 40% rise in subscriptions for its flagship newspaper the Straits Times in April, while time spent on SPH’s apps has also increased by 30% to 40% year on year. At the last traded share price, SPH was valued at just 10 times earnings and offered a trailing dividend yield of around 5.3%.
While Energy reported a small segment profit of S$195 million, Marine registered its second annual consecutive loss.SCI also increased its final dividend from S$0.02 to S$0.03, which was a positive sign after five consecutive years of dividend declines. Aviation volumes have contracted sharply as countries impose travel restrictions and shut down borders.
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