3 Companies That Have Bought Back Their Shares This Week

Share buybacks can be a sensible thing to do when a company’s shares are undervalued, and the firm doesn’t see any other need for the cash that it has. In this article, let’s look at three companies that have repurchased their shares thus far during the week, as of market open today.

Keppel REIT (SGX: K71U)

Keppel REIT is a commercial real estate investment trust (REIT) that has interests in nine premium office assets located in Singapore and Australia.

On 3, 4, 5 and 6 December 2018, the REIT’s manager bought back a total of 5,575,200 units at a price range of between S$1.16 and S$1.18 apiece. The total cost came up to around S$6.51 million.

Keppel REIT units last traded at S$1.19 each on Thursday. The price translates to a price-to-book (PB) ratio of 0.8 and a distribution yield of 4.7%.

Oversea-Chinese Banking Corp Limited (SGX: O39)

Oversea-Chinese Banking Corporation (OCBC) is the longest established local bank which was formed in 1932 with the merger of three local banks.

On 3, 4, 5 and 6 December, the bank bought back a total of 400,000 shares at a price range of between S$11.31 and S$11.57 per share. It spent around S$4.58 million in all.

OCBC shares closed at S$11.31 each on Thursday, giving a PB ratio of 1.1 and a dividend yield of 3.5%.

United Overseas Bank Ltd (SGX: U11)

United Overseas Bank (UOB) is one of the largest banks in Southeast Asia which was incorporated in 1935.

On 3, 4, 5 and 6 December, UOB repurchased 261,142 shares ranging from S$25.02 to S$26.04 apiece, spending around S$6.68 million in total.

Shares in UOB ended Thursday at S$25.02 per share, translating to a PB ratio of 1.1 and a dividend yield of 3.8%, excluding any special dividend.

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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 Oversea-Chinese Banking Corp Limited and United Overseas Bank Ltd. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.