SIA Group proposes final dividend of 28 cents per share after reporting record net profit in FY2022/2023

The group has recommended a final dividend per share of 28 cents for the year. Including the interim dividend of 10 cents per share that was paid on Dec 22, 2022, SIA’s total dividend for the FY2022/2023 will be 38 cents per share. The final dividend is subject to its shareholders’ approval at its next annual general meeting (AGM) on July 27.

In its outlook statement, the group remains positive as the demand for air travel remains “robust” in the 1QFY2023/2024, underpinned by the recovery of air travel in East Asia.

“Forward sales remain healthy across all cabin classes, led by a strong pick up in bookings to China, Japan, and South Korea. The group will monitor the demand for air travel, and adjust its capacity accordingly,” says SIA.

Meanwhile, near-term cargo demand is expected to remain soft on the back of the current macroeconomic environment and as inventory levels recalibrate to post-Covid conditions. Inflation and weak economic conditions will impact consumer demand and trade. Increased bellyhold capacity amid softer demand continues to exert downward pressure on cargo yields, particularly on key trade lanes, the group adds.

“As competition is expected to increase with more capacity being injected on international routes, the group will monitor developments closely, and be agile and nimble in its response,” says SIA.