The Singapore market has been experiencing a period of steady growth, with the Straits Times Index reflecting positive investor sentiment amid stable economic conditions. In this environment, dividend stocks are particularly attractive for their potential to provide consistent income and stability.
Top 10 Dividend Stocks In Singapore
| Name | Dividend Yield | Dividend Rating |
| BRC Asia (SGX:BEC) | 7.31% | ★★★★★☆ |
| Bumitama Agri (SGX:P8Z) | 6.74% | ★★★★★☆ |
| China Sunsine Chemical Holdings (SGX:QES) | 6.39% | ★★★★★☆ |
| Civmec (SGX:P9D) | 5.35% | ★★★★★☆ |
| Singapore Exchange (SGX:S68) | 3.40% | ★★★★★☆ |
| Singapore Airlines (SGX:C6L) | 7.79% | ★★★★★☆ |
| Genting Singapore (SGX:G13) | 4.29% | ★★★★☆☆ |
| UOB-Kay Hian Holdings (SGX:U10) | 6.62% | ★★★★☆☆ |
| Oversea-Chinese Banking (SGX:O39) | 6.17% | ★★★★☆☆ |
| Delfi (SGX:P34) | 7.06% | ★★★★☆☆ |
Click here to see the full list of 19 stocks from our Top SGX Dividend Stocks screener.
We'll examine a selection from our screener results.
Jardine Cycle & Carriage (SGX:C07)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Jardine Cycle & Carriage Limited, with a market cap of SGD10.99 billion, is an investment holding company involved in financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally.
Operations: Jardine Cycle & Carriage Limited generates revenue from financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses.
Dividend Yield: 5.5%
Jardine Cycle & Carriage declared an interim tax-exempt dividend of US$0.28 per share for 2024, with a payout ratio of 44.4% and cash payout ratio of 30.8%, indicating strong coverage by earnings and cash flows. Despite a decline in H1 2024 net income to US$483.3 million from US$648.3 million, the company maintains its dividend payments, though historically volatile over the past decade. The stock trades at good value compared to peers and industry benchmarks.
- Dive into the specifics of Jardine Cycle & Carriage here with our thorough dividend report.
- The analysis detailed in our Jardine Cycle & Carriage valuation report hints at an deflated share price compared to its estimated value.
Delfi (SGX:P34)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Delfi Limited, with a market cap of SGD488.93 million, manufactures, markets, distributes, and sells chocolate and confectionery products across Indonesia, Philippines, Malaysia, Singapore, and internationally.
Operations: Delfi Limited generates revenue primarily from its operations in Indonesia ($349.57 million) and Regional Markets ($183.30 million).
Dividend Yield: 7.1%
Delfi Limited declared an interim cash dividend of 2.72 Singapore cents per share for H1 2024, slightly down from 2.73 cents in H1 2023. Despite a payout ratio of 57.2%, its high cash payout ratio (750.7%) raises concerns about sustainability, as dividends are not well covered by free cash flows or earnings. Recent earnings show a decline, with net income falling to US$19.57 million from US$25.2 million year-on-year, reflecting potential challenges ahead for dividend reliability and growth stability.
- Take a closer look at Delfi's potential here in our dividend report.
- Our valuation report here indicates Delfi may be undervalued.
Singapore Exchange (SGX:S68)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Singapore Exchange Limited operates an integrated securities and derivatives exchange, related clearing houses, and an electricity market in Singapore, with a market cap of SGD11.34 billion.
Operations: Singapore Exchange Limited generates revenue from four main segments: Equities - Cash (SGD334.94 million), Platform and Others (SGD240.20 million), Equities - Derivatives (SGD334.05 million), and Fixed Income, Currencies, and Commodities (SGD322.50 million).
Dividend Yield: 3.4%
Singapore Exchange (SGX) offers a stable dividend, covered by earnings with a payout ratio of 61.7% and cash flows at 69.9%. Dividends have been reliable and growing over the past decade, though the current yield of 3.4% is lower than top-tier payers in Singapore. Recent earnings reported for FY2024 show revenue at S$1.23 billion and net income at S$597.91 million, indicating steady financial performance to support future dividends.
- Click here and access our complete dividend analysis report to understand the dynamics of Singapore Exchange.
- According our valuation report, there's an indication that Singapore Exchange's share price might be on the expensive side.
Next Steps
- Dive into all 19 of the Top SGX Dividend Stocks we have identified here.
- 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.
- Discover a world of investment opportunities with Simply Wall St's free app and access unparalleled stock analysis across all markets.
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- Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
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- 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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About SGX:P34
Delfi
An investment holding company, manufactures, markets, distributes, and sells chocolate, chocolate confectionery, and consumer products in Indonesia, Philippines, Malaysia, Singapore, and internationally.
Flawless balance sheet average dividend payer.
