0812 GMT - Oversea-Chinese Banking Corp.'s plan to return S$2.5 billion of capital to shareholders over two years via special dividends and share buybacks is a much-welcomed investment thesis for the stock, RHB Research analysts says in a note. It is a good defensive option given the Singapore-listed bank's solid asset quality and capital levels, as well as its connectivity play, where it is well poised to gain from supply-chain shifts, they write. Together with the ordinary DPS, investors can expect total payouts of 60% in 2024 and 2025, they say. RHB upgrades the stock to buy from neutral and raises the target price to S$19.10 from S$16.80. Shares are up 0.8% at S$17.34. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 03:12 ET (08:12 GMT)
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