0723 GMT - Oversea-Chinese Banking Corp.'s interim dividend per share appeared to pleasantly surprise DBS Group Research's Rui Wen Lim, who notes that the 47 Singapore cent payout is higher than consensus estimates due to the lender's stronger profit. The interim dividend was also higher than 2025's S$0.41, given a 50% payout ratio. The Singapore lender has around S$800 million earmarked for its share buyback program that has yet to be deployed, suggesting it could be repurposed as a special dividend with the final 2026 payout, she says in commentary. She estimates the special dividend could come up to be S$0.18 a share. DBS maintains its buy rating and S$30.00 target price for OCBC, which rises 3.2% to S$30.26.
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