Announcement • May 26
Overseas Education Limited Approves Final Dividend (Tax Exempt One-Tier) for the Financial Year Ended 31 December 2025, Payable on 22 May 2026 Overseas Education Limited at the Annual General Meeting Held on 30 April 2026 approved the payment of a final dividend (tax exempt one-tier) of SGD 0.007 per ordinary share for the financial year ended 31 December 2025. The dividend, will be paid on 22 May 2026. Reported Earnings • Apr 14
Full year 2025 earnings released: EPS: S$0 (vs S$0.015 in FY 2024) Full year 2025 results: EPS: S$0 (down from S$0.015 in FY 2024). Revenue: S$83.4m (down 5.0% from FY 2024). Net income: S$205.9k (down 97% from FY 2024). Profit margin: 0.2% (down from 7.1% in FY 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 25
Dividend reduced to S$0.007 Dividend of S$0.007 is 42% lower than last year. Ex-date: 8th May 2026 Payment date: 22nd May 2026 Dividend yield will be 4.1%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 14x earnings). However, it is well covered by cash flows (20% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1,471% to bring the payout ratio under control. However, EPS has declined by 54% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: S$0.001 (vs S$0.015 in FY 2024) Full year 2025 results: EPS: S$0.001 (down from S$0.015 in FY 2024). Revenue: S$83.9m (down 4.5% from FY 2024). Net income: S$206.0k (down 97% from FY 2024). Profit margin: 0.2% (down from 7.1% in FY 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Feb 23
Overseas Education Limited, Annual General Meeting, Apr 30, 2026 Overseas Education Limited, Annual General Meeting, Apr 30, 2026. Reported Earnings • Aug 19
First half 2025 earnings released: EPS: S$0.003 (vs S$0.013 in 1H 2024) First half 2025 results: EPS: S$0.003 (down from S$0.013 in 1H 2024). Revenue: S$42.9m (down 5.0% from 1H 2024). Net income: S$1.18m (down 78% from 1H 2024). Profit margin: 2.8% (down from 12% in 1H 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 8% per year. New Risk • Aug 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.6% Last year net profit margin: 8.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (224% payout ratio). Profit margins are more than 30% lower than last year (2.6% net profit margin). Market cap is less than US$100m (S$79.7m market cap, or US$62.1m). Upcoming Dividend • Apr 22
Upcoming dividend of S$0.012 per share Eligible shareholders must have bought the stock before 29 April 2025. Payment date: 09 May 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Singaporean dividend payers (6.1%). Higher than average of industry peers (4.7%). Announcement • Apr 09
Overseas Education Limited, Annual General Meeting, Apr 24, 2025 Overseas Education Limited, Annual General Meeting, Apr 24, 2025, at 15:00 Singapore Standard Time. Location: 81 pasir ris heights, singapore 519292, Singapore Declared Dividend • Feb 28
Dividend reduced to S$0.012 Dividend of S$0.012 is 7.7% lower than last year. Ex-date: 29th April 2025 Payment date: 9th May 2025 Dividend yield will be 5.9%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 20% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.8% EPS decline seen over the last 5 years. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: S$0.015 (vs S$0.016 in FY 2023) Full year 2024 results: EPS: S$0.015 (down from S$0.016 in FY 2023). Revenue: S$88.5m (up 1.3% from FY 2023). Net income: S$6.27m (down 6.8% from FY 2023). Profit margin: 7.1% (down from 7.7% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 26
Overseas Education Limited Proposes Final Dividend Tax-Exempt (One-Tier) for the Financial Year Ended 31 December 2024, Payable on May 9, 2025 Overseas Education Limited proposed financial dividend of SGD 0.012 per ordinary share, tax-exempt (one-tier) for the financial year ended 31 December 2024, the Board of Directors of the Company proposed, subject to shareholders' approval at the Annual General Meeting scheduled to be held on 24 April 2025, that the Dividend be paid on 9 May 2025. The Share Transfer Books and Register of Members of the Company will be closed on 2 May 2025 for the purpose of determining shareholders' entitlements to the Dividend. Members whose securities accounts with The Central Depository (Pte) Limited are credited with shares as at 5.00 p.m. on 30 April 2025 will be entitled to the Dividend. Upcoming Dividend • Apr 24
Upcoming dividend of S$0.013 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 10 May 2024. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 6.3%. Within top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (3.8%). Reported Earnings • Apr 10
Full year 2023 earnings released: EPS: S$0.016 (vs S$0.013 in FY 2022) Full year 2023 results: EPS: S$0.016 (up from S$0.013 in FY 2022). Revenue: S$87.8m (up 15% from FY 2022). Net income: S$6.73m (up 27% from FY 2022). Profit margin: 7.7% (up from 6.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 14% per year. Announcement • Feb 28
Overseas Education Limited Proposes Dividend for the Financial Year Ended 31 December 2023, Payable on 10 May 2024 Overseas Education Limited proposed financial dividend of SGD 0.013 per ordinary share, tax-exempt (one-tier) for the financial year ended 31 December 2023 (the dividend), the board of directors of the company proposed, subject to shareholders' approval at the Annual General Meeting scheduled to be held on 25 April 2024 (the AGM), that the dividend be paid on 10 May 2024. The company that the Share Transfer Books and Register of Members of the company will be closed on 3 May 2024 for the purpose of determining shareholders' entitlements to the dividend. Members whose securities accounts with The Central Depository (Pte) Limited are credited with shares as on 2 May 2024 will be entitled to the dividend. Declared Dividend • Feb 28
Dividend of S$0.013 announced Shareholders will receive a dividend of S$0.013. Ex-date: 30th April 2024 Payment date: 10th May 2024 Dividend yield will be 6.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Feb 27
Overseas Education Limited, Annual General Meeting, Apr 25, 2024 Overseas Education Limited, Annual General Meeting, Apr 25, 2024. Agenda: To propose financial dividend of SGD 0.013 per ordinary share, tax-exempt for the financial year ended 31 December 2023. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: S$0.016 (vs S$0.013 in FY 2022) Full year 2023 results: EPS: S$0.016 (up from S$0.013 in FY 2022). Revenue: S$87.8m (up 15% from FY 2022). Net income: S$6.73m (up 27% from FY 2022). Profit margin: 7.7% (up from 6.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
First half 2023 earnings released: EPS: S$0.011 (vs S$0.007 in 1H 2022) First half 2023 results: EPS: S$0.011 (up from S$0.007 in 1H 2022). Revenue: S$43.5m (up 16% from 1H 2022). Net income: S$4.44m (up 56% from 1H 2022). Profit margin: 10% (up from 7.6% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 26
Upcoming dividend of S$0.011 per share at 4.4% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 19 May 2023. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Singaporean dividend payers (6.4%). Higher than average of industry peers (3.7%). Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: S$0.013 (vs S$0.015 in FY 2021) Full year 2022 results: EPS: S$0.013 (down from S$0.015 in FY 2021). Revenue: S$76.4m (up 2.4% from FY 2021). Net income: S$5.28m (down 17% from FY 2021). Profit margin: 6.9% (down from 8.5% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Board Change • Nov 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Non Executive & Independent Director David Peter Walker was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 14
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down S$4.35m from profit in 1H 2021). Profit margin: (down from 11% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year. Announcement • Jun 01
Overseas Education Limited Announces Executive Changes The board of directors of Overseas Education Limited announced the resignation of Ms. Siau Kuei Lian as Company Secretary of the Company with effect from 31 May 2022. Further to the above change, the Board announced the appointment of Ms. Ong Beng Hong and Ms. Tan Swee Gek as the Joint Company Secretaries of the Company with effect from 31 May 2022 to act jointly and severally in the discharge of their duties and functions. Upcoming Dividend • May 03
Upcoming dividend of S$0.013 per share Eligible shareholders must have bought the stock before 10 May 2022. Payment date: 20 May 2022. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Singaporean dividend payers (5.8%). Higher than average of industry peers (3.6%). Board Change • Apr 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Non Executive & Independent Director David Peter Walker was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 15
Full year 2021 earnings released: EPS: S$0.015 (vs S$0.025 in FY 2020) Full year 2021 results: EPS: S$0.015 (down from S$0.025 in FY 2020). Revenue: S$74.5m (down 5.6% from FY 2020). Net income: S$6.33m (down 39% from FY 2020). Profit margin: 8.5% (down from 13% in FY 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Apr 12
Overseas Education Limited Proposes Dividend for the Financial Year Ended December 31, 2021, Payable 20 May 2022 Overseas Education Limited proposed financial dividend of SGD 0.013 per ordinary share, tax-exempt (one-tier) for the financial year ended December 31, 2021, the Board of Directors of the Company proposed, subject to shareholders' approval at the Annual General Meeting scheduled to be held on 28 April 2022 (the "AGM"), that the Dividend be paid on 20 May 2022. Members whose securities accounts with The Central Depository (Pte) Limited are credited with shares as at 5.00 p.m. on 11 May 2022 will be entitled to the Dividend. Payment of the Dividend (subject to shareholders' approval at the AGM) will be made on 20 May 2022. Reported Earnings • Feb 22
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: S$0.015 (down from S$0.025 in FY 2020). Revenue: S$74.6m (down 5.5% from FY 2020). Net income: S$6.33m (down 39% from FY 2020). Profit margin: 8.5% (down from 13% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Feb 01
Overseas Education Limited Provides Consolidated Earnings Guidance for the Year Ended December 31, 2021 Overseas Education Limited provided consolidated earnings guidance for the year ended December 31, 2021. Based on the preliminary review of the draft unaudited consolidated financial results of the Group for the financial year ended 31 December 2021 ("FY 2021"), the Group expects to report a materially lower profit before income tax for Fiscal Year 2021, compared to the previous financial year ("FY 2020"). The prolonged COVID-19 pandemic continued to negatively impact student numbers, both in terms of new enrolments and in the retention of existing foreign students. This caused a decline in revenue for Fiscal Year 2021. In addition, the Group received lower levels of government budget support measures and grants to help defray operating expenses in Fiscal Year 2021 when compared to Fiscal Year 2020. These factors led to the material decline in profit before income tax for Fiscal Year 2021. Announcement • Jan 28
Overseas Education Limited Announces Changes to its Board Overseas Education Limited announced resignation of Mr. David Alan Perry as executive chairman and Executive Director of the Company and its subsidiaries with effect from January 26, 2022, due to his current health condition . Mr. Tan Teng Muan will be appointed as chairman and his position will be re-designated to non-executive chairman and independent director of the company with effective January 26, 2022. Executive Departure • May 04
Company Secretary has left the company On the 27th of April, Kok Liang Chew's tenure in the role of Company Secretary ended. We don't have any record of a personal shareholding under Kok Liang's name. Kok Liang is the only executive to leave the company over the last 12 months. Upcoming Dividend • Apr 28
Upcoming dividend of S$0.023 per share Eligible shareholders must have bought the stock before 04 May 2021. Payment date: 20 May 2021. Trailing yield: 7.9%. Within top quartile of Singaporean dividend payers (4.6%). Higher than average of industry peers (1.7%). Reported Earnings • Apr 09
Full year 2020 earnings released: EPS S$0.025 (vs S$0.019 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: S$78.9m (down 3.7% from FY 2019). Net income: S$10.3m (up 29% from FY 2019). Profit margin: 13% (up from 9.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 20
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: S$79.1m (down 3.6% from FY 2019). Net income: S$10.3m (up 29% from FY 2019). Profit margin: 13% (up from 9.8% in FY 2019). The increase in margin was driven by lower expenses. Announcement • Feb 19
Overseas Education Limited, Annual General Meeting, Apr 21, 2021 Overseas Education Limited, Annual General Meeting, Apr 21, 2021. Agenda: To propose dividends. Is New 90 Day High Low • Feb 11
New 90-day high: S$0.32 The company is up 11% from its price of S$0.28 on 13 November 2020. The Singaporean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is flat over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: S$0.30 The company is up 7.0% from its price of S$0.28 on 15 September 2020. The Singaporean market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Services industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$1.04 per share. Is New 90 Day High Low • Nov 12
New 90-day high: S$0.29 The company is up 2.0% from its price of S$0.29 on 14 August 2020. The Singaporean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Services industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$0.86 per share. Is New 90 Day High Low • Oct 09
New 90-day low: S$0.27 The company is down 10.0% from its price of S$0.29 on 09 July 2020. The Singaporean market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$0.80 per share. 
