Dividend Stocks [2023]
10 Best Dividend Stocks in Singapore 2023
Speaking of impressive, the 2023 performance of dividend stocks in Singapore has been nothing short of remarkable. This article will look at the top 10 best-performing SG dividend stocks in 2023. Detailed data will be provided to help you better understand their performances before making any decision.
What is a Dividend Stock?
A dividend stock is a type of investment where the company pays out a portion of its earnings to shareholders, typically in the form of cash or additional shares. These payments, known as dividends, provide investors with a steady income stream and can be an essential part of a well-rounded investment portfolio. In addition, the Payout ratio shows the percentage of a company's earnings paid out as dividends to shareholders.
Top 10 Dividend Stocks in Singapore 2023
Speaking of impressive, the 2023 performance of dividend stocks in Singapore has been nothing short of remarkable. To be more specific, it can be regarded as a year of unexpected triumphs despite the uncertain economic times. Among others, REITs have played an overwhelming role in the top 10 high-yield dividend stocks.
With a whopping dividend yield TTM of 7.37% and a year-to-date return of 14.96%, CapLand Ascendas REIT claims the crown, followed by two giants HongkongLand USD and Frasers L&C Tr that boast a high dividend yield of 6.51% and 6.46% respectively. OCBC Bank takes the fourth place and waves with its attractive dividend yield of 6.32%.
The top 3 dividend stocks in Singapore 2023 are CapLand Ascendas REIT, HongkongLand USD, and Frasers L&C Tr, followed by OCBC Bank, SIA, Venture, MapletreeInd Tr, JMH USD, MapletreeLog Tr, and CapLand IntCom T as of December 22nd 2023. More importantly, SIA and OCBC Bank are also entitled to Top 10 Performing SG stocks 2023 regarding their TTD increase as of December 18th 2023.
1. CapLand Ascendas REIT (A17U)
Company Profile
CapitaLand Ascendas REIT is a real estate investment trust focusing on the industrial and business space. As of Dec. 31, 2022, it held a SGD 16.4 billion portfolio of 220 properties across Singapore, Australia, Europe, and the U.S. The property types encompass business and science parks, high-specification industrial properties, data centers, light industrial properties, and logistics and distribution centers. The trust is externally managed by Ascendas Funds Management, a subsidiary of CapitaLand Investment, which owns an 18% stake in the trust.
Performance
Industry: REITs
Dividend Yield TTM: 7.37%
YTD Increase: +14.96%
H1 FY2023 Earnings Data:
Revenue: 718.11M
Revenue YoY Increase: +7.74%
EPS: 0.09
EPS YoY Increase: -8.81%
Dividends Distribution 2023
Pay Date: 31/08/2023 1 Share Dividends 0.01578SGD
Pay Date: 26/06/2023 1 Share Dividends 0.06141SGD
Pay Date: 07/03/2023 1 Share Dividends 0.07925SGD
2. HongkongLand USD (H78)
Company Profile
Hongkong Land is a property investor focusing on holding prime commercial assets in Hong Kong, mainland China and Singapore. It is the largest office landlord in Hong Kong’s Central Business District and the second largest in Hong Kong overall. The Central portfolio includes 4.1 million square feet of office space and 0.6 million square feet of retail space. The company also holds 1.6 million square feet of office space in Singapore. The company also has property development business in mainland China, Singapore, and Southeast Asia. Hongkong Land is dual listed on the London Stock Exchange and the Singapore Exchange. Jardine Matheson Holdings owns 53% of the company.
Industry: Real Estate
Dividend Yield TTM: +6.51%
YTD Increase: -22.83%
H1 FY2023 Earnings Data:
Revenue: 670.30M
Revenue YoY Increase: -25.02%
EPS: -0.15
EPS YoY Increase: -216.91%
Dividends Distribution 2023:
Pay Date: 11/10/2023 1 Share Dividends 0.06SGD
Pay Date: 10/05/2023 1 Share Dividends 0.16SGD
3. Frasers L&C Tr (BUOU)
Company Profile
Frasers Logistics & Commercial Trust was established following the merger between Frasers Logistics and Industrial Trust and Frasers Commercial Trust in April 2020. As of March 31, 2023, the trust has a diversified portfolio of 107 logistics, industrial and commercial properties valued at around SGD 6.7 billion across Singapore, Australia, Germany, the Netherlands, and the United Kingdom. The trust is externally managed by Frasers Logistics & Commercial Asset Management, a subsidiary of Frasers Property Limited, which owns around 21% of the trust.
Industry: REITs
Dividend Yield TTM: +6.46%
YTD Increase: -3.71%
FY2023 Annual Report Data:
Revenue: 420.78M
Revenue YoY Increase: -6.53%
EPS: -0.03
EPS YoY Increase: -114.11%
Dividends Distribution 2023:
Pay Date: 14/12/2023 1 Share Dividends 0.0352SGD
Pay Date: 15/06/2023 1 Share Dividends 0.0352SGD
4. OCBC Bank (O39)
Company Profile
Oversea-Chinese Banking, or OCBC, is the longest-established Singapore bank, founded by the merger of three local banks in 1932. The group's operations include consumer banking; wealth management and private banking (offering through its Bank of Singapore subsidiary); small to midsize enterprise and business banking; corporate and institutional banking; and insurance through majority owned Great Eastern.
Industry: Banks
Dividend Yield TTM: +6.32%
YTD Increase: 11.25%
Q3 FY2023 Earnings Data:
Revenue: 3.42B
Revenue YoY Increase: +13.13%
EPS: 0.47
EPS YoY Increase: +16.57%
Dividends Distribution 2023:
Pay Date: 25/08/2023 1 Share Dividends 0.4SGD
Pay Date: 19/05/2023 1 Share Dividends 0.4SGD
5. SIA (C6L)
Company Profile
Singapore Airlines is Singapore's flagship carrier and one of the region’s largest airlines in revenue and carrying capacity. The company’s hub is Changi Airport, providing regional and cross-continental passenger and cargo services destined to or transit through Singapore. The company operates under dual brands: the premium carrier, SIA, coupled with its wholly owned subsidiary, and the low-cost regional carrier Scoot. It also owns stakes in SATs and SIA Engineering.
Industry: Transportation
Dividend Yield TTM: +5.91%
YTD Increase: +24.85%
Q2 FY2024 Earnings Data:
Revenue: 4.68B
Revenue YoY Increase: +4.34%
EPS: 0.24
EPS YoY Increase: +26.81%
Dividends Distribution 2023:
Pay Date: 22/12/2023 1 Share Dividends 0.10SGD
Pay Date: 18/08/2023 1 Share Dividends 0.28SGD
6. Venture (V03)
Company Profile
Venture Corp Ltd is a Singapore-based company that provides technology services, products and solutions. It offers solutions such as supply chain management, product refurbishment, and technical support, product and process engineering and others. The company's reportable segments are Advanced Manufacturing and Design Solutions, and Technology Products and Design Solutions. It generates a majority of its revenue from the Advanced Manufacturing and Design Solutions segment. Geographically, the company generates a majority of its revenue from Asia excluding Singapore.
Industry: Hardware
Dividend Yield TTM: +5.60%
YTD Increase: -17.84%
H1 FY2023 Earnings Data:
Revenue: 1.58B
Revenue YoY Increase: -11.91%
EPS: 0.48
EPS YoY Increase: -19.73%
Dividends Distribution 2023:
Pay Date: 14/09/2023 1 Share Dividends 0.25SGD
Pay Date: 08/05/2023 1 Share Dividends 0.50SGD
7. MapletreeInd Tr (ME8U)
Company Profile
Mapletree Industrial Trust is a real estate investment trust focusing on industrial properties and data centers. Its property portfolio consists of 85 properties in Singapore and 56 properties in North America (including 13 data centers held through a joint venture with its sponsor, Mapletree Investments Private Limited). Types of property owned include data centers, high-tech buildings, business parks and general industrial. The trust is externally managed by Mapletree Industrial Trust Management Limited, a subsidiary of its sponsor, which owns around 31% stake in the trust.
Industry: REITs
Dividend Yield TTM: +5.49%
YTD Increase: +17.95%
Q2 FY2024 Earnings Data:
Revenue: 174.12M
Revenue YoY Increase: -0.79%
EPS: 0.03
EPS YoY Increase: -9.50%
Dividends Distribution 2023:
Pay Date: 05/23/2023 1 Share Dividends 0.0332SGD
Pay Date: 05/09/2023 1 Share Dividends 0.0091SGD
Pay Date: 06/07/2023 1 Share Dividends 0.0248SGD
Pay Date: 07/06/2023 1 Share Dividends 0.0333SGD
Pay Date: 14/03/2023 1 Share Dividends 0.0339SGD
8. JMH USD (J36)
Company Profile
Jardine Matheson Holdings Ltd is a conglomerate of businesses operating primarily in Greater China and Southeast Asia. The affiliates offer products and services in motor vehicles and related operations, property investment and development, food retailing, home furnishing, engineering and construction, transport services, insurance broking, restaurants, luxury hotels, financial services, heavy equipment, mining, and agribusiness. In terms of net income, the largest businesses within the group are Hong Kong Land and Dairy Farm, which are property investment firms and food retailers, respectively.
Industry: Conglomerates
Dividend Yield TTM: +5.42%
YTD Increase: -18.56%
H1 FY2023 Earnings Data:
Revenue: 18.3B
Revenue YoY Increase: +0.16%
EPS: 1.95
EPS YoY Increase: +32.65%
Dividends Distribution 2023:
Pay Date: 11/10/2023 1 Share Dividends 0.60SGD
Pay Date: 10/05/2023 1 Share Dividends 1.60SGD
9. MapletreeLog Tr (M44U)
Company Profile
Mapletree Logistics Trust is a real estate investment trust focusing on logistics properties. As of March 31, 2023, the trust had a SGD 12.8 billion portfolio of 185 properties, spread across Singapore, Hong Kong, Japan, China, South Korea, Australia, Malaysia, Vietnam, and India. The trust is externally managed by Mapletree Logistics Trust Management Ltd, a subsidiary of Mapletree Investments Pte Ltd, which owns around a 32% stake in the trust.
Industry: REITs
Dividend Yield TTM: +5.33%
YTD Increase: +12.69%
Q2 FY2024 Earnings Data:
Revenue: 186.69M
Revenue YoY Increase: +1.54%
EPS: 0.02
EPS YoY Increase: -2.56%
Dividends Distribution 2023:
Pay Date: 19/12/2023 1 Share Dividends 0.02268SGD
Pay Date: 19/09/2023 1 Share Dividends 0.02037SGD
Pay Date: 22/05/2023 1 Share Dividends 0.02502SGD
Pay Date: 13/03/2023 1 Share Dividends 0.02227SGD
10. CapLand IntCom T (C38U)
Company Profile
CapitaLand Integrated Commercial Trust was established following the merger between CapitaLand Mall Trust and CapitaLand Commercial Trust in October 2020. The trust has a diversified portfolio of 26 properties, which includes offices (mainly in the central business district), retail malls (includes urban and suburban malls), and integrated development. Most of its properties are located in Singapore, with assets in Germany and Australia making up less than 10% of its portfolio. The trust is externally managed by CapitaLand Integrated Commercial Trust Management; parent CapitaLand retains a 23% stake in CICT.
Industry: REITs
Dividend Yield TTM: +5.30%
YTD Increase: +3.44%
H1 FY2023 Earnings Data:
Revenue: 774.48M
Revenue YoY Increase: +12.68%
EPS: 0.06
EPS YoY Increase: -6.57%
Dividends Distribution 2023:
Pay Date: 15/09/2023 1 Share Dividends 0.0530SGD
Pay Date: 17/03/2023 1 Share Dividends 0.0536SGD
Summary
In 2023, REITs account for nearly half of the top 10 high-dividend stocks in Singapore, particularly CapLand Ascendas REIT, Frasers L&C Tr, and MapletreeInd Tr, showcasing robust performance and offering stable dividend returns. In addition to REITs, other companies like Singapore Telecommunications and Jardine Matheson Holdings also marked their presence in the high-dividend stock arena.
While REITs played a significant role in Singapore's high-dividend market in 2023, investors in 2024 should broaden their focus to include a wider range of market and economic factors, and how these may impact the dividend yields and overall performance of different stocks. Also, in an environment of interest rate cuts, prudent consideration should be given to the allocation of high-dividend stocks, with a comprehensive analysis of various factors to devise an appropriate investment strategy.
Source: SGX, Bloomberg, moomoo, sginvestors.io as of Dec 2023
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