SGX Dividend Stock Standouts for February 2024

In the midst of a market that has seen little movement over the past week and a decline of 10% in the previous year, investors are eyeing opportunities for stability and growth. With earnings projected to grow by 7.3% annually over the next few years, dividend stocks stand out as attractive options for those seeking consistent returns in uncertain times.

Top 10 Dividend Stocks In Singapore

Click here to see the full list of Top Dividend Stocks.

Name	Dividend Yield
Civmec (SGX:P9D)	6.83%
Singapore Exchange (SGX:S68)	3.63%
Food Empire Holdings (SGX:F03)	3.01%
Oversea-Chinese Banking (SGX:O39)	6.17%
LHT Holdings (SGX:BEI)	6.13%
Mewah International (SGX:MV4)	5.10%
SUTL Enterprise (SGX:BHU)	7.46%
UOB-Kay Hian Holdings (SGX:U10)	4.58%
Hong Leong Finance (SGX:S41)	6.65%
AnnAik (Catalist:A52)	6.35%

We're going to explore 3 selections from our Top Dividend Stocks screener tool.

Raffles Medical Group (SGX:BSL)

Raffles Medical Group operates a network of private healthcare services across Singapore and parts of Asia, with its Hospital Services and Healthcare Services segments being the primary revenue drivers. Financially, Raffles Medical has demonstrated robust health over the past five years, with a declining debt to equity ratio now at 7%, and an impressive earnings growth rate. Recent performance shows improved profit margins and accelerated earnings growth. The company's dividends appear sustainable with a payout ratio of 49% and cash flows comfortably covering dividend payments; however, dividend reliability has been questionable due to volatility in the past decade. While Raffles Medical's dividend yield is modest compared to the market's top payers, its financial stability may appeal to conservative investors despite forecasts suggesting slower revenue growth and potential declines in future profits. Navigate through the intricacies of Raffles Medical Group with our comprehensive report here.

Food Empire Holdings (SGX:F03)

Food Empire Holdings, with a market capitalization of SGD 755 million, is entrenched in the food and beverage sector, primarily through branding and manufacturing. Its revenue streams are geographically diverse, with significant contributions from South-East Asia and Russia. Analytically speaking, Food Empire's financial health has shown resilience; debt levels have been curtailed over the past five years while earnings have surged annually by 26%. Moreover, its net profit margins have improved recently. The company's dividend profile exhibits both strengths and weaknesses: dividends are well-covered by earnings and cash flow with a low payout ratio, suggesting sustainability; however, despite an increase over the past decade, dividend payments have experienced volatility. In contrast to top-tier dividend payers in Singapore's market space, Food Empire offers a lower yield but maintains more than adequate coverage for its obligations—a mixed bag for those weighing income consistency against financial prudence. Click here and access our complete analysis report to understand the dynamics of Food Empire Holdings.

United Overseas Bank (SGX:U11)

United Overseas Bank (UOB), with a substantial market capitalization of SGD 47.28 billion, operates as a key financial institution in Singapore. While its revenue breakdown is not specified, the bank's operations span various banking products and services. In terms of dividend attractiveness, UOB presents a nuanced picture; its dividends have shown growth over the past decade and are currently well-covered by earnings, with a payout ratio under 50%. The bank maintains an appropriate loans to assets ratio and has kept bad loans within manageable levels, contributing to steady profit growth over the last five years. However, UOB's dividend yield is modest when compared to the upper echelon of Singaporean dividend payers and its dividend payments have been marked by volatility over time. Despite this inconsistency, UOB's overall financial health appears robust with low-risk funding sources dominating its liabilities profile. Take a closer look at United Overseas Bank's potential here.

In Conclusion

The Simply Wall St screener has been an invaluable resource in pinpointing Singapore's standout dividend stocks amidst a sea of options. Dive into all of the Top Dividend Stocks we have identified here.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com