Friday, 27 August 2010

Chart - SPH

Singapore Press Holdings is one of my “dividend paying” stock held in my SRS account for a period already. The financial year end for this company is 31 Aug and FY2010 is coming to a close. The company has been paying out more than 90% of net income as dividend for the last few years and I believe this year will be no exception. The yield is not exciting at approximately 4% at current prices but our bank deposit rates is even more “unexciting”.

The print business is still rather stable but don’t expect “significant” growth from it and it still enjoys monopolistic position in Singapore but is threatened by the new media such as internet “Channel News Asia” and free papers such as “Today”.

Unless there is major change to the landscape here, I guess it will continue to be the dominant news provider in Singapore earning stable income from advertisements….zzz…

Technically, the share price looked quite well supported. Perhaps this counter has always been regarded as a “defensive” stock.

 What would be definition of “defensive”??? Does defensive means good dividend yield but no growth and boring business?....hmmm..


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