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How to sell NTUC Income shares
Several shareholders have asked me for advise on how to sell NTUC Income shares. I am not familiar with the current arrangement. I asked them to seek advise from the corporate secretary of NTUC Income.
I checked with Google Gemini. Here are some relevant information.
1. What rate of dividend did NTUC Income declare in recent years.
NTUC Income did not declare any dividends for the 2022 financial year. This information is available on their website under the "Corporatisation" section https://www.income.com.sg/corporatisation.
While they previously offered dividends capped at 6% of the share capital, they are currently undergoing corporatisation. This process will remove the cap on dividends once completed.
2. How can a shareholder sell NTUC Income shares
As of February 29, 2024, shareholders in NUUC (Income Insurance Limited) have two options for selling their shares:
a) Through Phillip Securities and Alta:
- This option allows retail and individual shareholders to sell their shares on a private digital exchange called Alta.
- Process:
- Contact Phillip Securities to initiate the sale.
- Your NUUC shares will be converted into tokens and then traded on Alta.
- Note: This is a relatively new option, and it's recommended to contact Phillip Securities for current information and any specific requirements.
b) Private transfer:
- This method involves finding a willing buyer to purchase your shares directly.
- Process:
- You can attempt to find a buyer yourself through personal or professional networks.
- Income Insurance also facilitates private transfers by connecting shareholders with interested parties. You can contact them through email (income@boardroomlimited.com) or phone (+65 6536 5355).
Here are some additional resources for selling NUUC shares:
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