UOB's Asset-Management-Unit Sale Could Boost Dividend Yield
Dow Jones
Aug 05
0811 GMT - United Overseas Bank's sale of UOB Asset Management to Allianz Global Investors could boost its 2026 dividend yield, says Macquarie Capital's Jayden Vantarakis in a note. The deal to sell the unit for 555 million Singapore dollars comes after the lender moved to divest its interests in two real-estate sites. He estimates the UOB Asset Management sale could add roughly 0.3% to its 2026 dividend yield, assuming its gain of S$330 million flows through to its earnings and UOB's 50% payout policy. UOB continues to hold stakes in listed affiliates, which could unlock further gains if sold, he adds. Macquarie retains its outperform rating and S$45.16 target price on UOB, which falls 0.7% to S$42.94.
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