4 Singapore Stocks Paying Out Dividends in April: Civmec Ltd

Civmec is an integrated construction and engineering service provider to the energy, resources, infrastructure, and marine cum defence sectors.

The group provides a range of services including heavy engineering, shipbuilding, site civil works, and maintenance.

Civmec reported an encouraging set of earnings for its fiscal 2023’s first half (1H FY2023) ending 31 December 2022.

Revenue rose 7.6% year on year to A$418.9 million with net profit jumping 25.1% year on year to A$28.3 million.

The group also managed to reduce its borrowings from A$74 million to A$50 million in the current period.

Its cash generated from operations catapulted from just A$3 million in 1H FY2022 to A$84 million in 1H FY2023.

The engineering group doubled its interim dividend from A$0.01 to A$0.02 and it will be paid out on 14 April 2023.

As of 31 December 2022, Civmec boasted an order book of A$1.2 billion, up 13% from the A$1 billion in the same period last year.

Last week, the group announced that it had secured another A$100 million of new contracts for clients in the resources sector.