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These 3 Straits Times Index Companies Repurchased Their Shares This Week

Warren Buffett is someone who actively encourages companies to buy back their shares if the conditions are right.

He once said that when the shares of outstanding companies with strong financial positions are selling below their intrinsic value, no other action can benefit shareholders as share repurchases can.

On that note, let’s look at three Straits Times Index (SGX: ^STI) components that have repurchased their shares thus far during the week, as of market open today.

United Overseas Bank Ltd (SGX: U11)

With more than 500 branches in 19 countries, United Overseas Bank, more commonly known as UOB, is one of the largest banks in Southeast Asia.

On 7, 8 and 9 May 2018, UOB bought back 123,786 shares ranging from S$28.88 to S$29.940 per share, translating to a total cost of around S$3.6 million.

UOB’s shares last changed hands at S$29.00 on Thursday. This gives a price-to-book (PB) ratio of 1.4 and a dividend yield of 2.7%, excluding special dividend.

Venture Corporation Ltd (SGX: V03)

Founded in 1984 and headquartered in Singapore, Venture is a global electronics services provider.

On 7, 8, 9 and 10 May, Venture clawed back 186,000 shares from the market. The buyback was done at a price range of between S$20.28 to S$21.98 per share, giving a total cost of around S$3.9 million.

Shares of Venture last traded at S$21.72 on Thursday, translating to a price-to-earnings ratio of around 15 and a dividend yield of 2.8%.

Oversea-Chinese Banking Corporation Limited (SGX: O39)

Oversea-Chinese Banking Corporation, or OCBC for short, is the longest established local bank and is the second largest financial services group in Southeast Asia by assets.

On 8, 9 and 10 May, OCBC repurchased 600,000 shares at a price range of between S$13.09 and S$13.14 apiece. The total cost was close to S$7.9 million.

Shares of OCBC ended at $13.13 on Thursday, giving a PB ratio of 1.4 and a dividend yield of 2.8%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of United Overseas Bank Ltd. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.