SBS Transit

[r0n]

Similar to VICOM, SBS Transit didn't pay out an interim dividend. I guess after you taken a 109mil subsidy from the Gov, you shouldn't be acting like a Capitalist (in a sense)

Full Year 2020 Financial Statements and Dividend Announcement

The ongoing COVID-19 pandemic continues to disrupt the normal operations of the economy. Although Singapore has made good progress to move into Phase 3 of the Nation’s reopening from 28 December 2020 with further resumption of activities, Phase 3 could last a year or more, till global COVID-19 situation is under control or effective vaccines become widely
available. Emergence of new strains of COVID-19 virus and further mutations that may be more infectious could also potentially change the course of the outbreak. Most economists are projecting a long and uneven recovery which will hinge on the effectiveness of the vaccine rollout.

Revenue from Public Transport Services is expected to be higher compared to last year in the absence of any further circuit breaker. Rail ridership recovery is expected to be gradual in Phase 3, as working from home continues to be the default mode. Revenue from Other Commercial Services is expected to improve with higher ridership. The Group continues to step up the frequency of cleaning of its premises, buses and trains in view of the ongoing COVID-19 pandemic. Repairs and maintenance costs are expected to increase with the ageing bus and train fleets and continued investments in predictive
maintenance capabilities to enhance service reliability. The adverse impact of COVID-19 on the Group’s financial performance will be partly cushioned by grants from already announced Government Support Schemes, primarily the Jobs Support Scheme which will continue partially into 2021. Any further Government Support Schemes are uncertain at this moment.

Despite the ongoing vaccination efforts and gradual resumption of the economy, the global COVID-19 situation remains fluid. There is uncertainty over the easing of health and safety measures and the pace of a global vaccine rollout, hence the Group continues to maintain a cautious outlook for the rest of the financial year.

https://links.sgx.com/FileOpen/SBST_Full...eID=647805

The reason why they didn't pay an interim dividend was really simple - ComfortDelGro wasn't paying an interim dividend so there was no need for them to fund it.

However, they would have to pay a final dividend to follow their dividend policy, and not paying an interim dividend would make their final dividend seem bigger on comparison against last year.