Yahoo Finance 4 Singapore Blue-Chip Stocks Poised to Declare a Dividend When They Announce Their Earnings
The earnings season is in full swing and many REITs have reported their results and business updates.
Next up are the blue-chip stocks as they hand in their report card for 2023.
Blue-chip stocks are favoured by investors as they are large companies that have gone through numerous economic cycles.
Most of them also pay out a dividend.
Here are four Singapore blue-chip stocks that will announce their earnings soon and declare a dividend.
Singapore Technologies Engineering Ltd (SGX: S63)
Singapore Technologies Engineering, or STE, is a technology, defence, and engineering group serving the aerospace, smart city, defence, and public security segments.
The group is poised to report its 2023 results on the morning of 29 February.
Investors can look forward to a healthy report card from the engineering group based on its previous third quarter 2023 (3Q 2023) business update.
For the first nine months of 2023 (9M 2023), revenue rose 12% year on year to S$7.3 billion.
The commercial aerospace division saw the sharpest revenue increase at 30% year on year, boosted by a surge in air travel.
For 9M 2023, STE also snagged a total of S$11.7 billion in new contracts, lifting its order book to a high of S$27.5 billion as of 30 September 2023.
The group announced capacity expansion plans last year to power its growth, such as the development of airframe maintenance hangars in Florida and Singapore and the acquisition of a yard in Singapore for its ship repair business.
Last December, STE acquired D’Crypt for S$67.5 million from StarHub Ltd (SGX: CC3) to strengthen its cryptography and cybersecurity sub-segments.
SembCorp Industries Ltd (SGX: U96)
SembCorp Industries, or SCI, is an energy and urban solutions provider with a balanced energy portfolio of 20.5 GW and a project portfolio spanning more than 14,000 hectares across Asia.
SCI will release its 2023 earnings in the morning of 20 February.
The group has been actively growing its renewables portfolio in line with the objectives it communicated during its recent Investor Day.
In November 2023, SCI acquired 428 MW of wind assets in both China and India.
A month later, the utility group was awarded a 300 MW solar project in India as well as Singapore’s largest solar power project.
Just last month, SCI was awarded a 450 MW wind-solar hybrid project in India.
This week, the group announced the completion of the purchase of 228 MW of wind assets in India, bringing its gross renewables portfolio globally to 13.5 GW.
Venture Corporation Limited (SGX: V03)
Venture Corporation is a provider of technology products, services, and solutions.
The group reported a downbeat set of earnings for 9M 2023 because of the downturn in the semiconductor industry.
Revenue fell by 18.8% year on year to S$2.3 billion while net profit tumbled by 25.2% year on year to S$203.3 million.
Despite the weaker earnings, Venture Corporation has been paying out consistent dividends over several years.
The group raised its annual dividend from S$0.70 to S$0.75 in 2020 and has maintained this level of dividends despite the volatility within the semiconductor sector.
For the first half of 2023 (1H 2023), Venture continued to pay out an interim dividend of S$0.25, unchanged from a year ago, despite net profit declining by nearly 20% year on year.
The group will release its 2023 earnings on 22 February after the market closes.
Genting Singapore (SGX: G13)
Genting Singapore is the owner and operator of the integrated resort (IR) at Resorts World Sentosa (RWS).
RWS has six uniquely-themed hotels with around 1,600 hotel rooms, a casino, one of the world’s largest aquariums, a Universal Studios theme park, and a selection of dining, retail, and entertainment outlets.
Genting Singapore released an encouraging 3Q 2023 business update.
Total revenue jumped 33% year on year to S$689.9 million while net profit climbed 59% year on year to S$216.3 million.
The group will release its 2023 earnings on 22 February after the close of trading.
The Board of Directors has approved a total investment of around S$6.8 billion for the expansion of RWS and to make it the most sought-after tourism destination in Asia.
The new Waterfront development will commence construction this year and contribute 700 new hotel rooms to RWS.
The transformation of the Forum, Minion Land in Universal Studios Singapore, and the Singapore Oceanarium are progressing well and are expected to soft open in early 2025.
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Disclosure: Royston Yang does not own shares in any of the companies mentioned.
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