Top SGX Dividend Stocks To Watch In September 2024

As the Singapore market navigates a period of significant economic data releases and anticipations around the Federal Reserve's monetary policy shifts, investors are closely watching key indicators such as non-oil domestic exports. In this climate, dividend stocks can offer a stable income stream, making them particularly attractive for those seeking reliable returns amidst market fluctuations.

Top 10 Dividend Stocks In Singapore

Name	Dividend Yield	Dividend Rating
BRC Asia (SGX:BEC)	7.02%	★★★★★☆
Bumitama Agri (SGX:P8Z)	6.77%	★★★★★☆
YHI International (SGX:BPF)	6.49%	★★★★★☆
Singapore Exchange (SGX:S68)	3.24%	★★★★★☆
Singapore Airlines (SGX:C6L)	7.38%	★★★★★☆
QAF (SGX:Q01)	6.17%	★★★★★☆
UOB-Kay Hian Holdings (SGX:U10)	6.26%	★★★★☆☆
Oversea-Chinese Banking (SGX:O39)	5.78%	★★★★☆☆
Delfi (SGX:P34)	7.04%	★★★★☆☆
Nordic Group (SGX:MR7)	4.48%	★★★★☆☆

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

We're going to check out a few of the best picks from our screener tool.

YHI International (SGX:BPF)

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

Overview: YHI International Limited, with a market cap of SGD141.48 million, is an investment holding company that distributes automotive and industrial products across Singapore, Malaysia, China, Hong Kong, Taiwan, Australia, New Zealand and internationally through its subsidiaries.

Operations: YHI International Limited generates revenue primarily from its Distribution segments in ASEAN (SGD119.40 million), Oceania (SGD140.24 million), North East Asia (SGD17.99 million), and Other regions (SGD33.31 million) as well as its Manufacturing segments in ASEAN (SGD55.05 million) and North East Asia excluding rental (SGD57.20 million).

Dividend Yield: 6.5%

YHI International reported half-year sales of S$198.61 million, up from S$186.56 million a year ago, with net income rising to S$7.71 million. Trading at 53.2% below its estimated fair value, YHI's dividends are well-covered by earnings (68.9%) and cash flows (43.3%). Despite a volatile dividend history over the past decade, recent payments have increased and offer a competitive yield of 6.49%, placing it in the top 25% of Singaporean dividend payers.

• 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.

Singapore Airlines (SGX:C6L)

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

Overview: Singapore Airlines Limited, with a market cap of SGD23.17 billion, operates passenger and cargo air transportation services globally under the Singapore Airlines and Scoot brands.

Operations: Singapore Airlines Limited generates revenue from Engineering Services (SGD1.09 billion), Low-Cost Carrier operations (SGD2.45 billion), and Full Service Carrier operations (SGD16.18 billion).

Dividend Yield: 7.4%

Singapore Airlines recently approved a final dividend of 38 cents per share for the fiscal year ending March 31, 2024. The company has shown strong passenger and cargo growth, with operating results indicating increased capacity and load factors. Trading at a P/E ratio of 8.7x, below the market average, its dividend yield is in the top quartile of Singaporean payers. However, despite consistent earnings growth and sufficient coverage by cash flows (45.9%), its dividend history remains volatile over the past decade.

• Get an in-depth perspective on Singapore Airlines' performance by reading our dividend report here.
• Our valuation report unveils the possibility Singapore Airlines' shares may be trading at a discount.

Genting Singapore (SGX:G13)

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

Overview: Genting Singapore Limited, an investment holding company with a market cap of SGD10.14 billion, primarily focuses on the construction, development, and operation of integrated resort destinations in Asia.

Operations: Genting Singapore's revenue segments include gaming, which generated SGD1.72 billion, and non-gaming operations, contributing SGD0.66 billion.

Dividend Yield: 4.8%

Genting Singapore announced an interim dividend of S$0.02 per share for 2024, payable on September 18. The company reported strong half-year results with sales of S$1.36 billion and net income of S$356.91 million, reflecting significant growth from the previous year. Despite a reasonable payout ratio (69.8%) and coverage by cash flows (72.3%), its dividend history is volatile and yields are lower compared to top-tier payers in Singapore's market.

• Click here and access our complete dividend analysis report to understand the dynamics of Genting Singapore.
• Insights from our recent valuation report point to the potential undervaluation of Genting Singapore shares in the market.

Make It Happen

• Explore the 19 names from our Top SGX Dividend Stocks screener here.
• Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.
• Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage.

Interested In Other Possibilities?

• 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.

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