Keppel full-year dividend set to hit S$2.70 amid stronger Q3 profit

* Keppel Corporation's net profit for the fiscal third quarter ended September was stronger on a year-on-year basis.

* All three segments - infrastructure, real estate, and connectivity - recorded improvements.

* The group's revenue from continuing operations increased by 5% to S$5.3 billion in the nine-month period, due to higher contributions from infrastructure and connectivity segments.

* Keppel's total distribution payout for the current year is expected to be around S$2.70 per share, including a dividend-in-specie of Keppel Reit units worth S$0.18 per share.

* The group is working towards achieving an accumulative asset monetization value of S$10 billion to S$12 billion by the end of 2026.

* Keppel has seen an increase in activity across its fund platforms and asset classes, such as infrastructure, commercial real estate, education assets, and private credit.

* The company has more than five new funds that are currently undertaking fundraising and are set to launch over the next two years.

* Keppel's net gearing levels have risen, but the company is conscious about it and strives to ensure that net debt to equity does not cross one time.

* Keppel's CFO said that while the company is also unable to provide protection on dividends, it is actively moving towards a business model that is asset-light and has recurring income streams.

* Keppel's CFO said that higher interest rates do not automatically lead to impairments and that many of the infrastructure assets have an indexation that allows for higher revenue in an environment of higher inflation.

* Keppel is re-looking its playbook for China and will focus on sustainability-related solutions in sectors benefiting from tailwinds and government support, instead of traditional residential-property development and sale of properties.

* Keppel's CEO is retiring on Dec 31 and Kevin Chng, the company's current deputy CFO, will take over the post on Jan 1, 2024.