Yahoo Finance 4 Singapore Stocks Paying Dividends in March
Receiving dividends always puts a smile on my face.
This flow of passive income helps to boost my overall cash inflows and helps to augment my earned income.
You can enjoy the same, too, if you choose to include dividend-paying stocks within your investment portfolio.
Here are four Singapore stocks that are poised to pay out dividends this month.
Lendlease Global Commercial REIT (SGX: JYEU)
Lendlease Global Commercial REIT, or LREIT, is a REIT with a portfolio comprising Jem and 313@Somerset in Singapore and Sky Complex in Milan, Italy.
Jem is an office and retail property while 313@Somerset is a retail mall. Sky Complex consists of three Grade A office buildings.
LREIT’s portfolio value stood at S$3.65 billion as of 30 June 2023.
The retail cum commercial REIT pulled off a mixed performance for the first half of fiscal 2024 (1H FY2024) ending 31 December 2023.
Revenue increased by 17.9% year on year to S$119.9 million with net property income (NPI) jumping 22.2% year on year to S$93.4 million.
Distribution per unit (DPU), however, fell by 14.5% year on year to S$0.021 because of higher borrowing costs caused by higher interest rates.
The DPU will be paid on 27 March 2024.
LREIT’s overall portfolio occupancy stood at 87.9% as of 31 December 2023.
Tenant sales inched up 0.6% year on year with the portfolio posting a positive retail rental reversion of 15.7%.
The REIT also reported a high tenant retention rate of 80.6% by net lettable area.
LREIT’s gearing ratio stood at 40.5% with around 61% of its loans hedged to fixed rates.
Keppel REIT (SGX: K71U)
Keppel REIT owns a portfolio of prime commercial assets and has a portfolio value of around S$9 billion as of 31 December 2023.
The REIT is managed and sponsored by asset manager Keppel Ltd (SGX: BN4) and its portfolio is spread out across Singapore, Australia, South Korea, and Japan.
For 2023, the REIT’s property income rose 6.3% year on year to S$233.1 million.
NPI attributable to shareholders increased by 3% year on year to S$163.8 million.
Borrowing costs, however, rose 16% year on year to S$67 million, resulting in the office REIT’s DPU slipping by 2% year on year to S$0.058.
For the second half of 2023 (2H 2023), Keppel REIT’s DPU slid 1.7% year on year to S$0.029.
This DPU will be paid out on 15 March 2024.
Keppel REIT enjoys a high portfolio occupancy rate of 97.1% as of 31 December 2023.
It also sported a healthy aggregate leverage of 38.9% with a low all-in cost of debt of just 2.89%.
Around three-quarters of its debt is pegged to fixed rates.
Grand Banks Yachts (SGX: G50)
Grand Banks Yachts, or GBY, is a manufacturer of luxury recreational motor yachts.
The group manufactures yachts under the Grand Banks, Eastbay, and Palm Beach brands from its manufacturing yard at Pasir Gudang, Johor.
It also owns two service yards at Stuart, Florida, and New South Wales, Australia.
GBY reported a strong set of earnings for 1H FY2024.
Revenue rose 29.5% year on year to S$65 million in line with increased production activity.
Gross profit surged by 67.1% year on year to S$23.6 million while net profit shot up 91.7% year on year to S$6.9 million.
The yacht manufacturer generated a positive free cash flow of S$6.2 million for 1H FY2024, though this was slightly lower than the S$7.6 million churned out a year ago.
The group declared an interim dividend of S$0.005 that will be paid out on 27 March 2024.
GBY recorded 11 new boat orders in 1H FY2024 and remains confident of the long-term prospects of the luxury motor yacht market.
In line with this optimism, the group is expanding its Pasir Gudang yard which will lift production capacity by 25% and allow the business to construct bigger, sleeker, and more fuel-efficient models with reduced wait times.
Paragon REIT (SGX: SK6U)
Paragon REIT is a retail REIT with a portfolio of five assets in Singapore and Australia.
Its properties include Paragon, The Clementi Mall, and the Rail Mall in Singapore and a 50% interest in Westfield Marion Shopping Center and an 85% interest in Figtree Grove Shopping Center, both in Australia.
Paragon REIT also reported a mixed performance for 2023.
Gross revenue for the year inched up 1.8% year on year to S$288.9 million while NPI improved by 1.7% year on year to S$215.1 million.
DPU fell by 9.1% year on year to S$0.0502 because of rising interest costs.
For 2H 2023, the DPU stood at S$0.026 and will be paid on 22 March 2024.
Paragon REIT maintained a high portfolio occupancy rate of 98.1% across its portfolio.
It also registered a positive rental reversion of 6.3% for 2023 compared with a negative 4.1% in the 16 months ended 31 December 2022 (there was a change in the fiscal year-end for the REIT back in 2022).
Gearing was low at just 30% with 85% of its loans on fixed rates.
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Disclosure: Royston Yang does not own shares in any of the companies mentioned.
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