My first purchase of UOB was last September with the following rationale. You can read the full post here.

The final transaction with UOB this month is to purchase the counter! With the recent price weakness, its historical annual dividend of $1.20 would give me a yield of 4.4%. With the higher rate, the banks are getting tailwind for its NIM. The recent acquisition of Citigroup’s Indonesia, Malaysia, Thailand and Vietnam consumers banking accounts should serve it well in the mid term. Finally, its recent attraction of deposits might have a positive impact on its earning and balance sheet. So there is high likelihood that it can at least maintain its dividend.

She did not disappoint as she announced a record year with earning up by 18% after excluding the one-off expenses for the acquisition of Citigroup Malaysia and Thailand consumer businesses. Together with that the final dividend is increased to 75 cents!

Lots of information provided by both CEO and CFO. You can access their slides here. Among the slides, these are the few that caught my attention.

Looks like deposits base will continue to grow, especially with the expected acquisition of Citigroup Indonesia and Vietnam consumer businesses by end of this financial year. That would likely lead to more revenue and net profit!

It the above holds true and dividend payout ratio maintained at 50%, then I am expecting higher dividend for FY2023. Assuming approximately a 10% increase, then possible dividend might hit $1.50 next year. At the time of writing, UOB trades at $30.08 which will give a yield of about 5%.

I am holding on to my small stake in UOB.