Singapore’s biggest companies are busy buying back their own shares. In the first four months of 2026, more than 50 primary-listed companies repurchased S$911 million worth of shares in the open market, up from about S$750 million a year earlier and S$343 million two years earlier. Three blue chip Names led the way: Singapore Telecom Limited (SGX: Z74), Overseas-Chinese Banking Corporation Limited (SGX:O39) and Keppel Limited (SGX:BN4) combined to spend S$636 million of that consideration. The title is strong. But for dividend investors, the quieter and more useful question is: What’s financing all this generosity, and can the same engine sustain it? dividend Is it flowing?
Singtel: A buyback clearly separated from the dividend engine
singtel It topped the local tally with a buyback of 61.2 million shares for about S$300 million. The buyback falls under Singtel’s S$2 billion value realization program – and importantly, it is not funded from current earnings. The program is based on excess capital from asset recycling proceeds…
