Dividend policy
Sembcorp is committed to achieving sustainable income and growth to enhance total shareholder return.
The Group's policy aims to balance cash return to shareholders with investment for sustaining growth and driving its strategic transformation, while ensuring an efficient capital structure. The company strives to provide consistent and sustainable ordinary dividend payments to its shareholders, and the practice is to consider declaring dividends on a biannual basis. In the event of a material variation in declared dividends compared to the previous corresponding period, or any decision not to declare a dividend, the reasons for such will be disclosed in accordance with SGX-ST Listing Rule 704(24).
Dividend history
The Company strives to pay dividends within 30 days from the date of approval by the Board or by Shareholders at the Annual General Meeting.
For the Financial Year 2022:
- Sembcorp Industries paid an interim dividend of 4 cents per share on August 23, 2022 (19 days from the date of approval by the Board)
- On February 21, 2023, a final dividend of 4.0 cents and a special dividend of 4.0 cents per ordinary share were proposed. If approved by Shareholders at the Annual General Meeting, the final and special dividend was paid on May 8, 2023 (18 days from the date of approval)
- Together, this will bring total FY2022 dividend to 12.0 cents per ordinary share
For the First Half of 2023 (1H2023), an interim dividend of 5.0 cents per ordinary share was declared, payable on August 22, 2023 (18 days from the date of approval by the Board)
| Financial Year | Type | Ex-Date | Payable Date | Dividend (SG Cents)* |
|---|---|---|---|---|
| 2023 | Ordinary (Interim) | Aug 14, 2023 | Aug 22, 2023 | 5.00 |
| 2022 | Special Ordinary(Final) Ordinary(Interim) | Apr 25, 2023 Apr 25, 2023, Aug 15, 2022 | May 08, 2023 May 08, 2023, Aug 23, 2023 | 4.00 4.00 4.00 |
| 2021 | Ordinary(Final) Ordinary(Interim) | Apr 26, 2022 Aug 16, 2021 | May 10, 2022 Aug 24, 2021 | 3.00 2.00 |
| 2020 | Ordinary(Final) Ordinary(Interim) | Apr 27, 2021 | May 06, 2021 | 4.00 0.00 |
| 2019 | Ordinary(Final) Ordinary(Interim) | May 26, 2020 Aug 21, 2019 | Jun 03, 2020 Sep 04, 2019 | 3.00 2.00 |
| 2018 | Ordinary(Final) Ordinary(Interim) | Apr 24, 2019 Aug 14, 2018 | May 13, 2019 Aug 31, 2018 | 2.00 2.00 |
*Gross dividend. All dividends paid from January 2018 onwards are tax exempt one-tier dividends
Analyst Coverage
| Firm | Analyst |
| CIMB Research | Lim Siew Khee |
| Citi Research | Jame Osman |
| CLSA Asia-Pacific Markets | Low Horng Han |
| DBS Vickers Securities (Singapore) | Ho Pei Hwa |
| HSBC Limited | Rahul Bhatia |
| J.P. Morgan Securities | Sumedh Samant |
| Macquarie Capital Securities (Singapore) | Foo Zhiwei |
| Maybank Research | Kelvin Tan |
| Philip Securities | Peggy Mak |
| Morgan Stanley Asia (Singapore) | Mayank Maheshwari |
| UOB Kay Hian Research | Adrian Loh |