Thursday, May 23rd, 2024

This Singapore Penny stock plan to resume dividend payments

ISOTeam, an oversold stock, recently announced its plan to resume dividend payments and increase its dividend policy. The company intends to raise its dividend policy from 20% to at least 25% of net profit after tax for FY2024 and at least 30% for FY2025. This decision comes as a gesture of gratitude to shareholders for their support during the challenging Covid-19 years, when the company was unable to pay dividends due to its performance being significantly affected.

Looking ahead, ISOTeam’s CEO, Koh, is optimistic about the company’s future prospects. Since its establishment in 1998, ISOTeam has completed more than 860 projects involving over 7,200 buildings in Singapore.

In December 2022, the company conducted a strategic business review, leading to the divestment of non-core segments and a renewed focus on its core capabilities in Addition and Alteration, as well as Repairs and Redecoration.

This strategic shift has enabled ISOTeam to make a strong recovery, with its order book returning to pre-Covid-19 levels and better margins across all new contracts secured.

As of December 31, 2023, ISOTeam’s order book stood at $182.4 million, indicating a positive outlook for the company’s growth and profitability.

The stock is oversold. Accumulate.

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