Business

UOB Q2 profit up 43% to $1.01 billion; dividend raised to 60 cents per share

SINGAPORE (THE BUSINESS TIMES) – UOB’s net profit for its second quarter rose 42 per cent, as more economies reopened and as it posted lower credit allowance, it said on Wednesday (Aug 4). Net profit for the three months ended June 30 this year stood at $1.01 billion, compared with $703 million from the year-ago period. […]

Business

BP halves dividend after suffering huge losses

BP has halved its shareholder dividend and posted a $6.7bn quarterly loss after the coronavirus pandemic hit global demand for oil. The dividend news is another blow for pension funds and private investors who have seen a string of firms cut or halt payouts. The loss was largely due to BP writing down the value […]

Business

Canada's banks to cement status as solid investments in a crisis

(Reuters) – Canadian banks, whose dividends yields climbed during the financial crisis, are again gaining favor with investors, as their pledges to maintain payouts gives them an edge over global counterparts who have shunned them. Canadian banks are currently offering dividend yields of 5.7% versus U.S. banks’ 4.2% and European lenders’ 1.7%, according to Datastream. […]