0842 GMT - DBS Group's strong dividend yield will support its share price, Carmen Lee of OCBC Investment Research writes in a note. The Singapore lender delivered another year of record profit, raised its ordinary dividend and announced an additional capital return for 2025, Lee highlights. That reflects an attractive dividend yield of about 6.7%, higher than most Singapore dollar income-yielding assets, Lee says. Despite a more challenging external environment due to tariff threats and possible policy changes by major economies, Asia is likely to be more resilient than other regions, and DBS remains attractive, Lee says. She raises the fair value estimate on the bank to S$50.00 from S$43.60 while keeping a buy rating. Shares are 1.8% higher at S$45.50. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
February 10, 2025 03:43 ET (08:43 GMT)
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