Top 3 SGX Dividend Stocks To Consider In August 2024

As the Singapore market navigates through a period of regulatory changes and economic adjustments, investors are increasingly looking for stable income sources amidst the evolving landscape. Dividend stocks, known for their consistent payouts, can offer a reliable income stream and potential capital appreciation, making them an attractive option in such dynamic times.

Top 10 Dividend Stocks In Singapore

Name	Dividend Yield	Dividend Rating
BRC Asia (SGX:BEC)	7.41%	★★★★★☆
UOB-Kay Hian Holdings (SGX:U10)	6.81%	★★★★★☆
Bumitama Agri (SGX:P8Z)	6.75%	★★★★★☆
China Sunsine Chemical Holdings (SGX:QES)	6.42%	★★★★★☆
YHI International (SGX:BPF)	6.36%	★★★★★☆
Civmec (SGX:P9D)	5.39%	★★★★★☆
Singapore Exchange (SGX:S68)	3.52%	★★★★★☆
Singapore Airlines (SGX:C6L)	7.84%	★★★★★☆
Oversea-Chinese Banking (SGX:O39)	6.28%	★★★★☆☆
Delfi (SGX:P34)	6.86%	★★★★☆☆

Click here to see the full list of 19 stocks from our Top SGX Dividend Stocks screener.

Let's review some notable picks from our screened stocks.

Boustead Singapore (SGX:F9D)

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

Overview: Boustead Singapore Limited is an investment holding company offering energy engineering, real estate, geospatial, and healthcare technology solutions across multiple regions worldwide, with a market cap of SGD460.76 million.

Operations: Boustead Singapore Limited generates revenue from its geospatial solutions (SGD 212.67 million), healthcare technology (SGD 10.58 million), energy engineering (SGD 174.41 million), and real estate solutions (SGD 369.46 million).

Dividend Yield: 5.7%

Boustead Singapore's recent financial performance shows a significant increase in earnings and revenue, with net income rising to S$64.19 million from S$45.33 million the previous year. The company proposed a final tax-exempt dividend of 4 cents per share, subject to shareholder approval. Despite a reasonable payout ratio (40.9%) and strong cash flow coverage (28.8%), its dividend history has been volatile over the past decade, raising concerns about sustainability despite recent growth trends.

• Take a closer look at Boustead Singapore's potential here in our dividend report.
• Our valuation report here indicates Boustead Singapore may be overvalued.

Genting Singapore (SGX:G13)

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

Overview: Genting Singapore Limited, an investment holding company with a market cap of SGD10.02 billion, primarily engages in the construction, development, and operation of integrated resort destinations in Asia.

Operations: Genting Singapore Limited generates revenue from its integrated resort destinations in Asia.

Dividend Yield: 4.2%

Genting Singapore reported a significant rise in earnings for the first half of 2024, with net income reaching S$356.91 million, up from S$276.68 million the previous year. The company proposed an interim dividend of 2 Singapore cents per share, payable on 18 September 2024. Despite a reasonable payout ratio (61%) and adequate cash flow coverage (63.3%), its dividend history has been volatile over the past decade, raising concerns about reliability.

• Click here to discover the nuances of Genting Singapore with our detailed analytical dividend report.
• Our comprehensive valuation report raises the possibility that Genting Singapore is priced lower than what may be justified by its financials.

United Overseas Bank (SGX:U11)

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

Overview: United Overseas Bank Limited, along with its subsidiaries, offers a range of banking products and services globally and has a market capitalization of SGD50.25 billion.

Operations: United Overseas Bank Limited generates revenue from several key segments, including Group Retail (SGD5.11 billion), Global Markets (SGD400 million), and Group Wholesale Banking (SGD6.69 billion).

Dividend Yield: 5.9%

United Overseas Bank declared an interim dividend of S$0.88 per share with a payout ratio of 51%, reflecting stable coverage by earnings. Despite recent board changes, the bank's dividends have been volatile over the past decade. Earnings for H1 2024 were S$2.91 billion, slightly down from last year. The stock trades significantly below estimated fair value and has seen moderate earnings growth historically, though its dividend yield is lower compared to top-tier Singaporean dividend payers.

• Delve into the full analysis dividend report here for a deeper understanding of United Overseas Bank.
• The valuation report we've compiled suggests that United Overseas Bank's current price could be quite moderate.

Where To Now?

• Click this link to deep-dive into the 19 companies within our Top SGX Dividend Stocks screener.
• Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance.
• Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.

Ready To Venture Into Other Investment Styles?

• 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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