Yahoo Finance Forget Keppel Corporation: 4 Singapore Stocks That Provide a Higher Dividend Yield
Most investors would have heard of Keppel Corporation Limited (SGX: BN4).
The blue-chip group recently made headlines when it sold off its offshore and marine division to Seatrium Limited (SGX: S51) in exchange for a 54% stake in the latter.
Keppel also reported a strong set of earnings for 2022 and has maintained its annual dividend of S$0.33.
At a share price of S$6.45, the shares of Keppel provide a trailing dividend yield of 5.1%.
Though this may seem attractive, there are stocks out there with a higher dividend yield.
Some of these businesses have also raised their dividends in the most recent fiscal year, compared to Keppel which kept its dividend constant.
Here are four such stocks with higher dividend yields that you may consider adding to your buy watchlist.
CSE Global (SGX: 544)
CSE Global provides integrated engineering systems that help to reduce waste and allow for greener processes.
The group has a presence across 16 countries and has 57 offices around the world employing more than 1,800 employees.
For 2022, CSE Global saw its revenue rise 19% year on year to S$557.7 million but net profit plunged by 68.2% year on year to S$4.8 million.
Despite this, the engineering group maintained its final dividend of S$0.015, taking its 2022 full-year dividend to S$0.0275.
Shares of CSE Global provide an 8.1% trailing dividend yield.
There was good news for CSE Global’s 2023’s first quarter (1Q 2023) business update.
Revenue jumped by 35.5% year on year to S$159.4 million with year-on-year growth recorded across all geographic regions and industry sectors.
Although new orders received fell by 31.3% year on year to S$159.6 million, the group still maintained a nearly 40% higher order book backlog at S$480.2 million.
Civmec Ltd (SGX: P9D)
Civmec, headquartered in Australia, is an integrated, multi-disciplinary construction and engineering services provider serving the energy, resources, and infrastructure sectors.
The group has reported its latest operational update for the first nine months of its fiscal 2023 (9M FY2023).
Revenue inched up 4.2% year on year to A$606.6 million with net profit shooting up 23.4% year on year to A$42.9 million.
Civmec also saw operating cash flow more than quadruple year-on-year from A$13.9 million to A$67.7 million.
Its order book also inched up 0.9% in the last three months from A$1.18 billion as of 31 December 2022 to A$1.19 billion as of 31 March 2023.
Management reports that tendering activity across all sectors is “buoyant” for FY2024 and beyond, while engagement remains strong with new and existing clients on future projects.
The group declared an interim dividend of A$0.02 for 1H FY2023 (double what was paid out a year earlier) and a final dividend of A$0.02 for FY2022, taking the trailing 12-month dividend to A$0.04.
Shares of Civmec offer a trailing dividend yield of 5.2%.
YHI International Ltd (SGX: BPF)
YHI International is a global distributor of high-quality automotive and industrial products.
The group’s presence spans over 100 countries and YHI distributes tyres, alloy wheels, energy solutions and other industrial products to more than 5,000 customers.
2022 saw the group’s sales dip slightly by 3.1% year on year to S$430.9 million.
Net profit slid 2.1% year on year to S$20.7 million.
However, the group’s free cash flow surged from S$1.5 million a year ago to S$10.1 million in 2022.
YHI maintained its first and final dividend of S$0.036 for the year, giving its shares a historical dividend yield of 7.3%.
The group expects its wheel products business to see lower demand because of the global economic slowdown where businesses and customers are more cautious when spending.
However, its core tyres and energy distribution businesses are expected to remain resilient.
China Sunsine (SGX: QES)
China Sunsine is a speciality chemical producer that sells rubber accelerators, insoluble sulphur, and other vulcanising agents.
The group is the largest rubber accelerator producer in the world and the biggest insoluble sulphur producer in China.
For 2022, China Sunsine saw revenue inch up 3% year on year to RMB 3.8 billion.
Gross profit improved by 11% year on year to RMB 1.2 billion.
Net profit climbed by 27% year on year to RMB 642.4 million.
The chemicals company also generated a free cash flow of RMB 50.2 million for the year.
An ordinary dividend of S$0.01 and a special dividend of S$0.015 was declared, taking the total dividend for 2022 to S$0.03 after including the interim dividend of S$0.005.
China Sunsine’s shares offer a trailing dividend yield of 7.3%.
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Disclosure: Royston Yang does not own shares in any of the companies mentioned.
The post <strong>Forget Keppel Corporation: 4 Singapore Stocks That Provide a Higher Dividend Yield</strong> appeared first on The Smart Investor.
