3 Top SGX Dividend Stocks Yielding Up To 7.3%

The Singapore stock market has shown resilience amidst global economic uncertainties, with the Straits Times Index (STI) maintaining steady performance. In such an environment, dividend stocks can be particularly attractive for investors seeking stable returns and income generation.

Top 10 Dividend Stocks In Singapore

Name	Dividend Yield	Dividend Rating
BRC Asia (SGX:BEC)	6.96%	★★★★★☆
Bumitama Agri (SGX:P8Z)	6.69%	★★★★★☆
YHI International (SGX:BPF)	6.49%	★★★★★☆
China Sunsine Chemical Holdings (SGX:QES)	6.04%	★★★★★☆
Singapore Exchange (SGX:S68)	3.22%	★★★★★☆
Singapore Airlines (SGX:C6L)	7.34%	★★★★★☆
QAF (SGX:Q01)	6.10%	★★★★★☆
UOB-Kay Hian Holdings (SGX:U10)	6.30%	★★★★☆☆
Oversea-Chinese Banking (SGX:O39)	5.76%	★★★★☆☆
Delfi (SGX:P34)	6.99%	★★★★☆☆

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.

Singapore Airlines (SGX:C6L)

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

Overview: Singapore Airlines Limited, along with its subsidiaries, offers passenger and cargo air transportation services under the Singapore Airlines and Scoot brands across East Asia, the Americas, Europe, Southwest Pacific, West Asia, and Africa with a market cap of SGD23.32 billion.

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

Dividend Yield: 7.3%

Singapore Airlines recently approved a final dividend of S$0.38 per share for the year ended March 31, 2024. The company's dividend yield is in the top 25% of Singapore's market, and its dividends are covered by both earnings (75.9% payout ratio) and cash flows (45.9% cash payout ratio). However, its dividend track record has been volatile over the past decade despite recent increases. The stock trades at a favorable P/E ratio compared to peers and industry standards.

• Unlock comprehensive insights into our analysis of Singapore Airlines stock in this dividend report.
• Our comprehensive valuation report raises the possibility that Singapore Airlines is priced lower than what may be justified by its financials.

Boustead Singapore (SGX:F9D)

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

Overview: Boustead Singapore Limited, with a market cap of SGD482.25 million, is an investment holding company offering energy engineering, real estate, geospatial, and healthcare technology solutions across various regions including Singapore, Australia, Malaysia, the United States, Europe, Asia Pacific, the Americas, the Middle East and Africa.

Operations: Boustead Singapore Limited generates revenue from various segments including Geospatial (SGD212.67 million), Healthcare (SGD10.58 million), Energy Engineering (SGD174.41 million), and Real Estate Solutions (SGD369.46 million).

Dividend Yield: 5.4%

Boustead Singapore proposed a final tax-exempt dividend of S$0.04 per share for the year ended March 31, 2024, subject to shareholder approval at the upcoming AGM. The company’s dividends are well covered by earnings (40.9% payout ratio) and cash flows (28.8% cash payout ratio). However, its dividend history has been volatile over the past decade despite recent increases. Boustead trades at 84.8% below its estimated fair value, presenting potential value for investors seeking dividends in Singapore's market.

• Get an in-depth perspective on Boustead Singapore's performance by reading our dividend report here.
• Our valuation report here indicates Boustead Singapore may be overvalued.

China Sunsine Chemical Holdings (SGX:QES)

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

Overview: China Sunsine Chemical Holdings Ltd., with a market cap of SGD381.51 million, manufactures and sells specialty chemicals in China, the rest of Asia, the United States, Europe, and internationally.

Operations: China Sunsine Chemical Holdings Ltd. generates revenue primarily from Rubber Chemicals (CN¥4.39 billion), Heating Power (CN¥202.99 million), and Waste Treatment (CN¥25.06 million).

Dividend Yield: 6%

China Sunsine Chemical Holdings reported half-year sales of CNY 1.75 billion and net income of CNY 188.8 million, reflecting stable but slightly declining profitability compared to the previous year. The company's dividend payments have been volatile over the past decade, though they have increased overall. With a low payout ratio of 21.1% and a cash payout ratio of 34%, dividends are well-covered by earnings and cash flows, making them sustainable despite an unstable track record.

• Click to explore a detailed breakdown of our findings in China Sunsine Chemical Holdings' dividend report.
• The valuation report we've compiled suggests that China Sunsine Chemical Holdings' current price could be quite moderate.

Where To Now?

• Embark on your investment journey to our 19 Top SGX Dividend Stocks selection 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.
• Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor.

Curious About Other Options?

• 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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