Anyone tracking Singapore’s blue-chip board has seen the same tug-of-war play out in Keppel Corp (SGX: BN4): headline profit dips while the core operating numbers keep climbing. The company’s 1H 2026 results captured exactly that tension — overall net profit fell to SGD 155 million, yet New Keppel net profit rose 25% to SGD 530 million, according to the earnings-call transcript on Investing.com. The latest BN4 price action, dividend record, analyst targets, and shareholder structure all point to the same question: which move is noise, and which is signal.

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Latest Keppel Corp (BN4) Share Price (SGX): SGD 10.00 (as of Oct 23, 09:00) ·
Day Change: -0.50% ·
52-Week Range: SGD 5.94 – 8.86 ·
Market Capitalization: SGD 17.92 billion ·
Price/Book Value: 1.79 ·
Current Ratio: 1.19

Editor’s note

Price references in public sources conflict because each snapshot has a different timestamp. The stats line mirrors the data feed used for this page; company-issued references are cited separately in the text.

Quick snapshot

1Confirmed facts
2What’s unclear
  • No official SGX filing identifies a single catalyst for today’s -0.50% intraday dip.
  • No uniform analyst target price appears in the available sources (Investing.com, earnings-call transcript).
  • Keppel’s exact Temasek shareholding percentage is not restated in the sources used here.
3Timeline signal
  • 12 Aug 2026: book closure for the SGD 0.15 interim dividend (Keppel Investor Relations, dividend calendar).
  • 21 Aug 2026: interim dividend paid (Keppel Investor Relations, dividend calendar).
  • 4 Feb 2026: SGD 10.95 close used as the base for Keppel’s 4.3% yield estimate (Keppel, company results release).
4What’s next
  • Watch whether FY2026 recurring income extends FY2025’s SGD 941 million run-rate and whether the SGD 1.6 billion monetisation programme funds another round of distributions (Keppel, company results release).
  • The 4.3% distribution yield estimate will shift with every close, so follow SGX filings rather than a static percentage.

Eight rows, one pattern: the market data is a moving target, while the corporate facts — ticker, sector, dividend backing — stay stable until the next company filing.

Metric Value
Company Keppel Ltd (SGX: BN4) (Stockopedia, public SGX equity data)
Sector Offshore & Marine, Infrastructure, Property
Headquarters Singapore
Share Price (latest) SGD 10.00 (Oct 23, 09:00)
Day Change -0.50%
Market Capitalization SGD 17.92B
Price/Book 1.79
Temasek Backing Yes (major shareholder, per Keppel Investor Relations disclosures)

What is the Current Keppel Corp Share Price on SGX?

Keppel Corp share price today: live data

  • Live feed (this page): SGD 10.00 as of Oct 23, 09:00, down 0.50% on the day (data feed; not a company-issued quote).
  • Company reference point: Keppel’s FY2025 results release cited a closing price of SGD 10.95 on 4 Feb 2026 for its yield calculation (Keppel, company results release).
  • Earnings-session print: the 1H 2026 transcript put the stock at SGD 11.44 after a 4.67% fall (Investing.com, earnings-call transcript).
  • Ticker: BN4 on the Singapore Exchange (Stockopedia, public SGX equity data).

The numbers do not line up neatly, and that is the point: each source is a snapshot with a different timestamp. Keppel’s own release dated its close 4 Feb 2026; the transcript logged the earnings session later in the year; the feed used here is Oct 23 at 09:00. Note also that the feed’s 52-week range of SGD 5.94–8.86 does not reconcile with Keppel’s cited SGD 10.95 close — an unresolved discrepancy between third-party quote widgets and the company’s audited references. Treat any single quote as a photograph, not a film.

The catch

Yield estimates travel with the price. Keppel’s 4.3% total distribution yield was calculated off SGD 10.95; at a feed price of SGD 10.00, the same distribution stream looks richer — but only if the next distributions are confirmed on the same scale.

How to read Keppel’s live quote

  • Day range and volume: the sources used here do not publish a verified intraday range or traded volume for the Oct 23 session; check the SGX order book or a broker terminal for those two fields.
  • Official filings before quotes: price moves without a corresponding SGX announcement are sentiment, not news (Keppel Investor Relations, company announcements hub).
  • Valuation at the current quote: the feed shows a price/book ratio of 1.79 and a market capitalization of SGD 17.92 billion, both of which reset with the next tick.

The implication: for a stock like BN4, the quote you see depends on when you look. The closing reference that matters for dividends and yield is the one Keppel itself publishes in its results releases.

Why Are Keppel Corp Shares Dropping Today?

Factors behind the intraday decline

  • Today’s move: the feed shows a 0.50% dip to SGD 10.00 at Oct 23, 09:00. No matching SGX filing appears in the sources reviewed here, which makes the catalyst unattributed.
  • The last verified drop: in the 1H 2026 earnings session, BN4 fell 4.67% to SGD 11.44 even as core profit rose (Investing.com, earnings-call transcript).
  • The likely driver then: overall net profit dropped to SGD 155 million from SGD 378 million a year earlier, hiding the strength in New Keppel’s operating segments (Investing.com, earnings-call transcript).

Market sentiment: core profit vs headline profit

The paradox

Keppel’s 1H 2026 report simultaneously delivered a 25% jump in New Keppel net profit and a 4.67% share-price fall in the earnings session. The market punished the headline number while the operating engine accelerated.

The debate among observers of the stock is whether the SGD 155 million overall figure or the SGD 530 million core figure is the better compass. The transcript shows the market chose the headline in the short term (Investing.com, earnings-call transcript). Macro factors — global shipping demand for the offshore and marine legacy, and the interest-rate outlook that prices infrastructure assets — sit behind that sentiment, though no official filing quantifies them for Oct 23.

What this means: post-earnings volatility is structural, not accidental. Until the gap between headline and core profit closes, expect BN4 to swing harder around results days than around ordinary sessions.

What is the Target Price for Keppel Stock?

What the available data says about valuation

  • Distribution yield anchor: Keppel estimated FY2025 total distribution yield at about 4.3%, based on the SGD 10.95 closing price on 4 Feb 2026 (Keppel, company results release).
  • Book value multiple: the current feed indicates a price/book ratio of 1.79 — the market is paying a premium to net asset value, not a discount (Stockopedia, public SGX equity data).
  • Earnings anchor: New Keppel net profit reached SGD 530 million in 1H 2026, up 25% year on year (Keppel, 1H 2026 results release).

Consensus rating and target price

  • No uniform target emerges from the sources used here; the earnings-call report frames the debate as sustainability of the core profit run-rate rather than a single price level (Investing.com, earnings-call transcript).
  • What a target would have to explain: the 25% core growth, the 56% dividend payout ratio, and the SGD 1.6 billion monetisation programme are all in the price debate (Keppel, company results release).
Bottom line: Keppel’s real debate is not today’s quote — it is whether 25% core-profit growth can outrun the drag from one-off items. Long-term holders should track the SGD 0.47 per share distribution record; short-term traders should expect volatility around SGX filings.

The trade-off: at 1.79 times book with a 4.3% distribution yield estimate, BN4 is neither an obvious cheap stock nor an expensive one — it is a bet that recurring income keeps compounding.

Is Keppel a Good Investment Right Now?

Upsides

  • Core momentum: New Keppel net profit rose 25% to SGD 530 million in 1H 2026 (Keppel, 1H 2026 results release).
  • Distribution growth: FY2025 total distributions reached about SGD 0.47 per share, up 38%, with an estimated 4.3% yield (Keppel, company results release).
  • Recurring income: FY2025 recurring income rose 21% to SGD 941 million (Keppel, company results release).
  • Asset recycling: the special dividend was tied to 15% of the SGD 1.6 billion FY2025 monetisation programme (Keppel, company results release).

Downsides

  • Headline profit fell: 1H 2026 overall net profit dropped to SGD 155 million from SGD 378 million, which triggered the post-earnings share-price fall (Investing.com, earnings-call transcript).
  • Market skepticism: the 4.67% earnings-session decline shows investors are not automatically rewarding core growth (Investing.com, earnings-call transcript).
  • Price references conflict: the current feed price of SGD 10.00 sits below Keppel’s cited 4 Feb 2026 close of SGD 10.95, so momentum is not clearly positive (Keppel, company results release).
  • Yield is not fixed: the 4.3% estimate was based on a specific close; any rise in the share price compresses the forward yield.

Dividend record: the numbers behind the yield

Why this matters

The dividend record, not the daily quote, is Keppel’s primary investor proposition. The table below traces the payouts that the yield estimate is built from.

Twelve rows, one pattern: every headline distribution increase in the past two years traces back to core profit growth, not to one-off accounting gains.

Item Amount / Date
FY2024 New Keppel net profit SGD 793 million (Keppel, FY2025 release)
FY2025 New Keppel net profit Approximately SGD 1.1 billion, up 39% (Keppel, FY2025 release)
FY2025 recurring income SGD 941 million, up 21% (Keppel, FY2025 release)
FY2025 interim ordinary dividend SGD 0.15 per share (Keppel, FY2025 release)
FY2025 final ordinary dividend SGD 0.19 per share (Keppel, FY2025 release)
FY2025 ordinary dividends, total SGD 0.34 per share, a 56% payout ratio (Keppel, FY2025 release)
FY2025 special dividend Approximately SGD 0.13 per share (SGD 0.02 cash + 1 Keppel REIT unit per 9 shares) (Keppel, FY2025 release)
FY2025 total distributions Approximately SGD 0.47 per share, up 38% (Keppel, FY2025 release)
FY2025 total distribution yield Approximately 4.3%, based on SGD 10.95 close on 4 Feb 2026 (Keppel, FY2025 release)
1H 2026 New Keppel net profit SGD 530 million, up 25% (Keppel, 1H 2026 release)
1H 2026 interim dividend SGD 0.15 per share (Keppel, 1H 2026 release)
1H 2026 payment details Book closure 12 Aug 2026; paid 21 Aug 2026 (Keppel Investor Relations, dividend calendar)

How BN4 compares with the broader SGX market

  • Hybrid profile: Keppel bundles offshore and marine, infrastructure, and property under one SGX listing — a structure closer to a conglomerate than a pure-play REIT or airline like SIA.
  • Income angle: the FY2025 distribution stream of SGD 0.47 per share gives BN4 a yield profile that lines up with the dividend-focused segment of Singapore’s retail market (Keppel, FY2025 release).
  • Risk angle: the 1H 2026 headline miss shows the quality-of-earnings discount is still present (Investing.com, earnings-call transcript).

The trade-off: investors get a Temasek-linked, income-generating asset with conglomerate complexity. That trade-off is exactly why the daily quote is noisy and the dividend record is clear.

Who Are the Largest Shareholders of Keppel Corporation?

Top institutional holders

  • Anchor shareholder: Temasek Holdings is Keppel’s largest shareholder and the strategic anchor of the register, according to the company’s own investor-relations disclosures (Keppel Investor Relations, shareholder reports).
  • Public float: the remainder of the register is held by institutional funds and retail investors who trade BN4 on SGX (Stockopedia, public SGX equity data).

Temasek’s stake and what it means

  • Exact percentage: not restated in the sources used here; Keppel’s annual report, published under Investor Relations, carries the current register.
  • Policy signal: the special dividend linked to 15% of the SGD 1.6 billion FY2025 monetisation shows how distributions are being used to return capital while Temasek remains the anchor (Keppel, company results release).

The pattern: a Temasek-anchored register with a growing retail audience drawn by the 4.3% yield estimate — governance stability in exchange for lower headline excitement than the offshore and marine peers once delivered.

Timeline: corporate actions behind BN4’s price moves

Six markers, one storyline: the distributions grew, the core profit compounded, and the share price kept repricing the gap between the two.

Date or period Signal
FY2024 New Keppel net profit of SGD 793 million — the baseline for the 39% jump that followed (Keppel, FY2025 release)
FY2025 New Keppel net profit of about SGD 1.1 billion, recurring income up 21% to SGD 941 million, and total distributions of about SGD 0.47 per share (Keppel, FY2025 release)
4 Feb 2026 Share price close of SGD 10.95, used by Keppel to estimate the 4.3% total distribution yield (Keppel, FY2025 release)
1H 2026 (period ended 30 Jun 2026) New Keppel net profit up 25% to SGD 530 million; interim dividend of SGD 0.15 declared (Keppel, 1H 2026 release)
12 Aug 2026 Book closure for the SGD 0.15 interim dividend (Keppel Investor Relations, dividend calendar)
21 Aug 2026 Interim dividend paid to shareholders on the register (Keppel Investor Relations, dividend calendar)

The pattern: every dividend step higher was backed by a reported improvement in core profit. That alignment is the reason the stock’s 4.3% yield estimate survived a period of falling headline numbers.

Fact check: what’s confirmed and what’s unclear

Confirmed facts

  • Keppel is listed on the Singapore Exchange under the ticker BN4 (Stockopedia, public SGX equity data).
  • 1H 2026 New Keppel net profit was SGD 530 million, up 25% (Keppel, 1H 2026 results release).
  • FY2025 total distributions were about SGD 0.47 per share, up 38% (Keppel, FY2025 results release).
  • The 1H 2026 interim dividend of SGD 0.15 was paid on 21 Aug 2026 (Keppel Investor Relations, dividend calendar).

What’s unclear

  • The exact catalyst for the Oct 23 intraday dip; no official SGX filing in the sources reviewed here identifies one.
  • A true consensus target price; the available record shows a debate, not a uniform number (Investing.com, earnings-call transcript).
  • Temasek’s exact current shareholding percentage; not restated in the sources used here.
  • Whether FY2026 recurring income can repeat FY2025’s 21% growth rate.

The split matters: four confirmed facts, four open questions — enough signal to act on the dividend record, not enough to justify a confident call on the next quarter’s price.

What the company and analysts are saying

Including the interim dividend, Keppel’s proposed FY2025 ordinary cash dividend totals SGD 0.34 per share, representing a 56% payout ratio on New Keppel net profit.

Keppel, FY2025 results release

Keppel declared an interim cash dividend of SGD 0.15 per share for 1H 2026, scheduled for payment on 21 August 2026.

Keppel, 1H 2026 results release

Core units reported higher profit while the stock fell — the market is separating the SGD 155 million headline figure from the SGD 530 million core figure.

Earnings-call commentary, via Investing.com

The through-line: both the company and the market are talking about the same gap — core profit rising, headline profit dragging. Watch which one wins in the next SGX filing.

The takeaway for Keppel shareholders

Keppel enters the rest of 2026 with two numbers in tension: SGD 155 million of headline profit and SGD 530 million of core New Keppel profit. The next chapters — FY2026 recurring income, further asset recycling under the SGD 1.6 billion monetisation programme, and the dividend calendar — will decide whether BN4 closes that gap from above or below. For income investors, the arithmetic is concrete: the SGD 0.47 per share FY2025 distribution stream yields more than 4.3% at today’s SGD 10.00 feed price, but only if you buy before the next book-closure date — or you accept that the Feb 2026 yield estimate no longer applies to the price you pay.

Additional sources

keppel.com, keppel.com, finance.yahoo.com, growbeansprout.com

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Frequently asked questions

How often does Keppel Corp report earnings?

Keppel publishes half-year and full-year results. The 1H 2026 release, for the period ended 30 June 2026, reported New Keppel net profit of SGD 530 million, up 25%, and was followed by an earnings call covered in the Investing.com transcript.

What is the BN4 stock ticker on SGX?

BN4 is the Singapore Exchange ticker for Keppel Ltd, as listed on Stockopedia’s BN4 page.

Does Keppel pay a regular dividend?

Yes. Keppel pays ordinary dividends on a semi-annual basis. For FY2025, the interim and final ordinary dividends totaled SGD 0.34 per share, a 56% payout ratio on New Keppel net profit (Keppel, FY2025 results release).

What is Keppel’s dividend yield forecast for 2026?

Keppel estimated the FY2025 total distribution yield at approximately 4.3%, based on the SGD 10.95 closing price on 4 Feb 2026. The forward yield changes with the share price (Keppel, FY2025 results release).

When was the last Keppel dividend paid?

The 1H 2026 interim dividend of SGD 0.15 per share had a book-closure date of 12 Aug 2026 and was paid on 21 Aug 2026 (Keppel Investor Relations, dividend calendar).

Is Keppel backed by Temasek?

Yes. Temasek Holdings is Keppel’s largest shareholder and the strategic anchor of the register, according to Keppel’s investor-relations disclosures.

Where can I see the real-time Keppel share price?

Live SGX quotes are available from broker platforms and data terminals. Stockopedia’s BN4 page is one public reference for the share price and fundamentals (Stockopedia, public SGX equity data).

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