Top SGX Dividend Stocks To Consider In October 2024

As Singapore's market continues to navigate a period of transformation and recovery, investors are increasingly focused on stable returns amidst evolving economic conditions. In this context, dividend stocks are gaining attention for their potential to provide consistent income streams, making them an attractive consideration for those looking to balance growth with regular payouts.

Top 10 Dividend Stocks In Singapore

Name	Dividend Yield	Dividend Rating
BRC Asia (SGX:BEC)	6.75%	★★★★★☆
Bumitama Agri (SGX:P8Z)	6.27%	★★★★★☆
Singapore Airlines (SGX:C6L)	7.40%	★★★★★☆
YHI International (SGX:BPF)	6.36%	★★★★★☆
Singapore Exchange (SGX:S68)	3.10%	★★★★★☆
QAF (SGX:Q01)	6.10%	★★★★★☆
Aztech Global (SGX:8AZ)	9.80%	★★★★☆☆
Oversea-Chinese Banking (SGX:O39)	5.84%	★★★★☆☆
Delfi (SGX:P34)	6.51%	★★★★☆☆
Nordic Group (SGX:MR7)	4.06%	★★★★☆☆

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

Let's explore several standout options from the results in the screener.

Hour Glass (SGX:AGS)

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

Overview: The Hour Glass Limited is an investment holding company involved in the retailing and distribution of watches, jewelry, and other luxury products across several countries including Singapore, Hong Kong, Japan, Australia, New Zealand, Malaysia, Thailand, and Vietnam with a market cap of SGD1.04 billion.

Operations: The Hour Glass Limited generates revenue of SGD1.13 billion from its operations in retailing and distributing watches, jewelry, and other luxury products.

Dividend Yield: 5%

Hour Glass's dividend payments have been volatile over the past decade, with an annual drop exceeding 20% at times. Despite this instability, dividends are well-covered by earnings (payout ratio: 33.5%) and cash flows (cash payout ratio: 46.2%). Recently, a final dividend of S$0.06 per share was approved for FY2024, payable on August 21, 2024. The company has also initiated a share buyback program authorized to repurchase up to 10% of its issued capital.

• Click here to discover the nuances of Hour Glass with our detailed analytical dividend report.
• Upon reviewing our latest valuation report, Hour Glass' share price might be too pessimistic.

YHI International (SGX:BPF)

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

Overview: YHI International Limited is an investment holding company that, along with its subsidiaries, distributes automotive and industrial products across Singapore, Malaysia, China, Hong Kong, Taiwan, Australia, New Zealand and internationally; it has a market cap of SGD144.40 million.

Operations: YHI International Limited generates revenue through various segments, including Distribution - ASEAN (SGD119.40 million), Distribution - Other (SGD33.31 million), Manufacturing - ASEAN (SGD55.05 million), Distribution - Oceania (SGD140.24 million), Distribution - North East Asia (SGD17.99 million), and Manufacturing - North East Asia, excluding rental income (SGD57.20 million).

Dividend Yield: 6.4%

YHI International's dividend yield is in the top 25% of Singapore's market, supported by a reasonable payout ratio of 68.9% and a cash payout ratio of 43.3%. However, its dividend history has been unstable over the past decade. Recent earnings reports show modest growth, with sales reaching S$198.61 million and net income at S$7.71 million for the first half of 2024, indicating potential for continued dividend coverage despite past volatility.

• Click to explore a detailed breakdown of our findings in YHI International's dividend report.
• Our expertly prepared valuation report YHI International implies its share price may be lower than expected.

Delfi (SGX:P34)

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

Overview: Delfi Limited is an investment holding company that manufactures, markets, distributes, and sells chocolate and consumer products in Indonesia, the Philippines, Malaysia, Singapore, and internationally with a market cap of SGD528.65 million.

Operations: Delfi Limited generates its revenue primarily from Indonesia, contributing $349.57 million, and from Regional Markets, adding $183.30 million.

Dividend Yield: 6.5%

Delfi's dividend yield ranks in the top 25% of Singapore's market, yet its sustainability is questionable due to a high cash payout ratio of 750.7%, indicating dividends are not well covered by cash flows. Despite a reasonable earnings payout ratio of 57.2%, recent interim dividends slightly decreased amid declining sales and net income for the first half of 2024. The company has faced volatility in dividend payments over the past decade, challenging its reliability for consistent returns.

• Unlock comprehensive insights into our analysis of Delfi stock in this dividend report.
• The valuation report we've compiled suggests that Delfi's current price could be quite moderate.

Next Steps

• Unlock our comprehensive list of 19 Top SGX Dividend Stocks by clicking here.
• Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports.
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Looking For Alternative Opportunities?

• 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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