Yahoo Finance 5 Stocks Paying Out Dividends in April
Income investors invest to obtain a steady stream of passive income from dividends.
The good news is that Singapore’s stock market has a wide variety of dividend-paying stocks.
These range from blue-chip stocks to REITs and smaller companies with healthy cash flows.
We profile five Singapore stocks that are set to dish out dividends in April.
Riverstone Holdings (SGX: AP4)
Riverstone is a manufacturer of nitrile and natural rubber cleanroom gloves.
The group has six manufacturing facilities in Malaysia, China, and Thailand with an annual production capacity of 10.5 billion gloves.
Riverstone reported a downbeat set of earnings for 2023 but provided a positive outlook.
2023’s revenue fell by 27.4% year on year to RM 914.8 million while net profit tumbled by nearly 30% year on year to RM 220.4 million.
However, the group saw sequential improvement for its fourth quarter 2023 (4Q 2023) results with net profit surging by 60.7% year on year to RM 67.5 million.
The business proposed an ordinary final dividend of RM 0.075 and a special interim dividend of RM 0.05.
The special interim dividend will be paid on 5 April.
Management gave an upbeat outlook for this year with an anticipated recovery for cleanroom gloves along with continued customer wins for customised healthcare gloves.
Frasers Centrepoint Trust (SGX: J69U)
Frasers Centrepoint Trust, or FCT, is a retail REIT with a portfolio of nine suburban retail malls and an office building.
Its assets under management (AUM) stood at around S$6.5 billion as of 31 December 2023.
Back in January 2024, FCT announced that it would be increasing its stake in NEX Mall to 50% through an acquisition.
In line with this move, the manager launched an equity fundraising in late January that raised gross proceeds of around S$200 million.
The retail REIT declared an advance distribution of S$0.0425 for the period from 1 October 2023 to 4 February 2024 which will be paid on 2 April.
This acquisition looks set to boost the REIT’s distribution per unit.
Investors should also rejoice as FCT was recently added to the bellwether Straits Times Index (SGX: ^STI) after the latter’s March 2024 review.
DBS Group (SGX: D05)
DBS is Singapore’s largest bank and should be no stranger to investors.
The lender reported a strong set of earnings for 2023 as higher interest rates pushed up its net interest income.
Total income rose 22% year on year to S$20.2 billion on the back of a 33% year-on-year jump in net interest income.
Net profit climbed 23% year on year and surpassed the S$10 billion mark, coming in at S$10.1 billion.
DBS declared a final dividend of S$0.54, 26% higher than the S$0.42 paid out a year ago, bringing its 2023 dividend to S$1.92 per share.
This final dividend will be paid on 19 April 2024.
The bank also declared a 1-for-10 bonus issue with the bonus shares qualifying for the first interim dividend of 2024.
Aztech Global (SGX: 8AZ)
Aztech Global is an electronics design, engineering, and manufacturing solutions provider.
The group has four R&D centres in Singapore, Hong Kong and China and three manufacturing facilities in China and Malaysia.
Aztech Global reported a solid set of earnings for 2023.
Revenue rose 9.3% year on year to S$820.2 million, a new high.
Net profit surged by 48.8% year on year to S$67.2 million.
The group also generated a positive free cash flow of S$79.2 million for 2023.
A final cash dividend of S$0.05 was declared and will be paid on 30 April 2024.
Aztech Global secured new customers during 2023 dealing with smart baby monitoring, health-tech wearables, and respiratory monitoring devices.
Its order book as of 22 February 2024 stood at S$333.9 million.
Civmec Ltd (SGX: P9D)
Civmec is an Australian integrated construction and engineering services provider to the energy, resources, infrastructure, and oil and gas sectors.
The group’s capabilities include heavy engineering, shipbuilding, site civil works, maintenance, and industrial insulation, among others.
For Civmec’s fiscal 2024 first half ending 31 December 2023, revenue rose 17.5% year on year to A$492.3 million.
Net profit improved by 12.8% year on year to A$31.9 million.
An interim dividend of A$0.025 was declared, up 25% year on year from the prior year’s A$0.02.
This dividend will be paid on 15 April 2024.
Civmec also generated a positive free cash flow of A$88.5 million, an increase of 46.5% from the previous year’s A$60.4 million.
The engineering firm ended the year with A$1 billion in its order book, down about 9% from the A$1.1 billion registered as of 30 October 2023.
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Disclosure: Royston Yang owns shares of DBS Group.
The post 5 Stocks Paying Out Dividends in April appeared first on The Smart Investor.
