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Examining 3 SGX Dividend Stocks With Yields Up To 7.1%

Amidst global financial scrutiny and regulatory actions, as evidenced by recent settlements involving major banks like JP Morgan, investors in the Singapore market may seek stability through dividend stocks. These stocks can offer predictable returns and a measure of safety in uncertain economic times, making them an appealing option for those looking to maintain steady income streams.

Top 10 Dividend Stocks In Singapore

Name

Dividend Yield

Dividend Rating

Civmec (SGX:P9D)

6.23%

★★★★★★

Singapore Exchange (SGX:S68)

3.62%

★★★★★☆

Yangzijiang Shipbuilding (Holdings) (SGX:BS6)

3.38%

★★★★★☆

UOB-Kay Hian Holdings (SGX:U10)

6.97%

★★★★★☆

UOL Group (SGX:U14)

3.64%

★★★★★☆

BRC Asia (SGX:BEC)

7.58%

★★★★★☆

Bumitama Agri (SGX:P8Z)

6.84%

★★★★★☆

Singapore Airlines (SGX:C6L)

7.19%

★★★★★☆

YHI International (SGX:BPF)

6.63%

★★★★★☆

Sing Investments & Finance (SGX:S35)

6.12%

★★★★☆☆

Click here to see the full list of 20 stocks from our Top SGX Dividend Stocks screener.

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Below we spotlight a couple of our favorites from our exclusive screener.

Hour Glass

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

Overview: The Hour Glass Limited is an investment holding company specializing in the retail and distribution of watches, jewelry, and other luxury products across Singapore, Hong Kong, Japan, Australia, New Zealand, Malaysia, Thailand, and Vietnam with a market cap of SGD 1.03 billion.

Operations: The Hour Glass Limited generates SGD 1.13 billion primarily through the sale of watches, jewelry, and luxury items.

Dividend Yield: 5.1%

Hour Glass's dividend yield of S$5.06% trails behind the top 25% of Singaporean dividend stocks, which average a 6.17% yield. Despite a history of volatility and unreliability in its dividend payments over the past decade, the company maintains a sustainable payout structure with a low payout ratio of 31.9% and cash payout ratio of 42.3%. This indicates that dividends are well-supported by both earnings and cash flows, providing some stability despite past fluctuations.

SGX:AGS Dividend History as at May 2024
SGX:AGS Dividend History as at May 2024

Yangzijiang Shipbuilding (Holdings)

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

Overview: Yangzijiang Shipbuilding (Holdings) Ltd. is an investment holding company that specializes in shipbuilding, operating across Greater China, Canada, Japan, Italy, Greece, other European countries, and internationally with a market capitalization of approximately SGD 7.51 billion.

Operations: Yangzijiang Shipbuilding (Holdings) Ltd. generates revenue primarily through its shipbuilding segment, which accounted for CN¥22.79 billion, and its shipping operations, contributing CN¥1.02 billion.

Dividend Yield: 3.4%

Yangzijiang Shipbuilding (Holdings) Ltd. offers a stable dividend yield of 3.38%, though it's lower than the top 25% of Singaporean dividend stocks at 6.17%. With a payout ratio of 33.6% and a cash payout ratio of 19.1%, dividends are sustainably covered by both earnings and cash flows, evidenced by a recent increase in earnings by 57%. Recent board changes could impact governance dynamics, potentially influencing future financial strategies and dividend policies.

SGX:BS6 Dividend History as at May 2024
SGX:BS6 Dividend History as at May 2024

Singapore Airlines

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

Overview: Singapore Airlines Limited operates passenger and cargo air transportation services globally under the Singapore Airlines and Scoot brands, with a market capitalization of approximately SGD 23.82 billion.

Operations: Singapore Airlines Limited generates revenue primarily through its Full Service Carrier segment, which brought in SGD 16.18 billion, and its Low-Cost Carrier operations, which contributed SGD 2.45 billion, along with Engineering Services adding SGD 1.09 billion.

Dividend Yield: 7.2%

Singapore Airlines has shown a robust increase in sales, reaching SGD 19.01 billion for the fiscal year ending March 2024, up from SGD 17.77 billion the previous year, with net income also rising to SGD 2.67 billion. Despite this financial growth, dividends have been inconsistent over the past decade and are expected to face challenges given a forecasted average earnings decline of 20.7% annually over the next three years. However, dividends are currently well-supported by earnings and cash flows with a payout ratio of 75.9% and a cash payout ratio of 45.9%. Recent executive changes could influence future strategic directions impacting dividend stability.

SGX:C6L Dividend History as at May 2024
SGX:C6L Dividend History as at May 2024

Summing It All Up

Looking For Alternative Opportunities?

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.

Companies discussed in this article include SGX:AGS SGX:BS6 and SGX:C6L.

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