In a Bursa announcement last night, Globe declared a single tier 2nd interim dividend of 10% and a single tier special dividend of 10% per ordinary share of RM0.50 each for the financial year ending 31 December 2015. (Source: Bursa)

Comments: While the interim DPS is lower by 2% yoy, we take comfort that the company is preserving cash for future capex requirements, instead of raising equity or increasing debt. The interim DPS of 10 sen is nevertheless within our expectations. Maintain Buy and TP of RM6.28

Source: Affin Hwang Capital Research - 4 Sep 2015