BT’s CFAer used ‘indicated’ dividends to calculate stocks with the highest dividends and lowest price-to-tangible assets ratios. The list of stocks which emerged are mostly the real estate investment trusts, and property developers. Hong Leong Finance, UOB-Kay Hian, SIA, Venture Corp, NOL, DBS, SATS and OCBC Bank were the non-property related counters in the list for the big caps. Her methodolgy is explained here.
The significance of stocks with highest dividends and lowest price-to-tangible assets ratios is explained here by the same BT CFAer: Buying stocks with the highest dividend yield, but lowest PTB ratio appears to be a winning strategy. Following that strategy over 22 years would turn $100 into $1,575. That’s a compounded annual return of 13.3 per cent a year.
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