Reuters logo
Singapore Hot Stocks-UE E&C jumps to record high on dividends
February 27, 2012 / 2:25 AM / in 6 years

Singapore Hot Stocks-UE E&C jumps to record high on dividends

SINGAPORE, Feb 27 (Reuters) - Shares of Singapore-listed construction and engineering firm UE E&C Ltd surged as much as 22 percent to a record high after it posted strong earnings and said it would pay an attractive dividend.

By 0211 GMT on Monday, shares of UE E&C were 16.7 percent higher at S$0.525 with over five million shares changing hands. This was 15.6 times its average daily volume over the last five sessions.

UE E&C said its net profit last year more than doubled to S$64.5 million, and it will pay a final dividend of 6 Singapore cents a share, implying a yield of 13 percent over its last traded price of S$0.45 on Friday.

“With the payout, the dividend yield looks very attractive, and that is probably driving its share price today,” said a local dealer.

UE E&C’s strong set of results was mainly due to an unexpected surge in its revenue and net profit in the fourth quarter, OCBC said in a commentary. (Reporting by Charmian Kok; Editing by Kevin Lim)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below