Top SGX Dividend Stocks To Consider In October 2024

In recent months, the Singapore stock market has shown resilience amidst global uncertainties, with investors keenly observing how economic events influence market indices. In such a climate, dividend stocks remain an attractive option for those seeking steady income streams, as they can offer stability and potential returns even during volatile times.

Top 10 Dividend Stocks In Singapore

Name	Dividend Yield	Dividend Rating
BRC Asia (SGX:BEC)	6.69%	★★★★★☆
Bumitama Agri (SGX:P8Z)	6.36%	★★★★★☆
Singapore Airlines (SGX:C6L)	7.41%	★★★★★☆
YHI International (SGX:BPF)	6.36%	★★★★★☆
Singapore Exchange (SGX:S68)	3.11%	★★★★★☆
QAF (SGX:Q01)	6.02%	★★★★★☆
Aztech Global (SGX:8AZ)	9.71%	★★★★☆☆
Genting Singapore (SGX:G13)	4.60%	★★★★☆☆
Oversea-Chinese Banking (SGX:O39)	5.86%	★★★★☆☆
Delfi (SGX:P34)	6.69%	★★★★☆☆

Click here to see the full list of 20 stocks from our Top SGX Dividend Stocks screener.

Here's a peek at a few of the choices from the screener.

BRC Asia (SGX:BEC)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: BRC Asia Limited, with a market cap of SGD655.70 million, specializes in the prefabrication of steel reinforcement for concrete across Singapore and various international markets including Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, and India.

Operations: BRC Asia Limited generates revenue from two main segments: Trading, which contributes SGD319.71 million, and Fabrication and Manufacturing, which accounts for SGD1.35 billion.

Dividend Yield: 6.7%

BRC Asia's dividend yield is in the top 25% of Singapore's market, supported by a low payout ratio of 35.9%, indicating dividends are well-covered by earnings. However, its cash payout ratio stands at a higher 85.3%, suggesting potential cash flow constraints. The company's dividend history has been volatile over the past decade, despite recent growth in payments. Trading significantly below estimated fair value, BRC Asia offers good relative value compared to industry peers.

• Take a closer look at BRC Asia's potential here in our dividend report.
• According our valuation report, there's an indication that BRC Asia's share price might be on the cheaper side.

DBS Group Holdings (SGX:D05)

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: DBS Group Holdings Ltd is a financial services company offering commercial banking and related services across Singapore, Hong Kong, Greater China, South and Southeast Asia, and internationally, with a market capitalization of SGD110.18 billion.

Operations: DBS Group Holdings Ltd generates revenue through its key segments, with Institutional Banking contributing SGD9.18 billion and Consumer Banking/Wealth Management adding SGD9.34 billion.

Dividend Yield: 5.6%

DBS Group Holdings' dividend payments have grown over the past decade, though they have been volatile. The current payout ratio of 54.1% suggests dividends are well-covered by earnings, with future coverage expected at 65.1%. Despite a dividend yield below the top quartile in Singapore, DBS offers reasonable value trading below estimated fair value. Recent leadership changes, including a new Deputy CEO and head of consumer banking, may influence strategic direction and operational efficiency moving forward.

• Navigate through the intricacies of DBS Group Holdings with our comprehensive dividend report here.
• Our expertly prepared valuation report DBS Group Holdings implies its share price may be lower than expected.

Sheng Siong Group (SGX:OV8)

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Sheng Siong Group Ltd is an investment holding company that operates a chain of supermarket retail stores in Singapore, with a market cap of SGD2.35 billion.

Operations: Sheng Siong Group Ltd generates revenue of SGD1.39 billion from its supermarket operations selling consumer goods in Singapore.

Dividend Yield: 4%

Sheng Siong Group's dividend payments, while covered by earnings and cash flows with payout ratios of 69.6% and 51.8% respectively, have been unreliable over the past decade due to volatility. Despite this, dividends have grown during this period. The company trades significantly below its estimated fair value but offers a lower dividend yield compared to top-tier payers in Singapore's market. Recent leadership changes may impact future strategic decisions but do not directly affect dividend stability or growth potential.

• Unlock comprehensive insights into our analysis of Sheng Siong Group stock in this dividend report.
• Our comprehensive valuation report raises the possibility that Sheng Siong Group is priced lower than what may be justified by its financials.

Summing It All Up

• Click through to start exploring the rest of the 17 Top SGX Dividend Stocks now.
• Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments.
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Contemplating Other Strategies?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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