SINGAPORE: Singapore’s stock market is a treasure trove of dividend-yielding options.
For investors looking to add to their portfolio of dividend-yielding options, here are five Singapore stocks that will give out dividends in April, according to The Smart Investor.
1. Riverstone Holdings
Riverstone Holdings, a prominent manufacturer of nitrile and natural rubber cleanroom gloves, boasts an extensive operational footprint spanning Malaysia, China, and Thailand.
In 2023, its sales fell by 27.4% to RM 914.8 million (approx. S$261.08 million), and its profit dropped by nearly 30% to RM 220.4 million (approx. S$62.90 million).
But things looked up in the last part of the year, with its profit shooting up by 60.7% to RM 67.5 million (approx. S$19.26 million) in the fourth quarter.
Riverstone is hopeful for 2024, expecting better demand and more customers, buoyed by anticipated recoveries in cleanroom gloves demand and continued customer acquisitions.
The company proposed an ordinary final dividend of RM 0.075 (approx. S$0.021) alongside a special interim dividend of RM 0.05 (approx. S$0.014), which will be paid on April 5.
2. Frasers Centrepoint Trust
Frasers Centrepoint Trust runs nine suburban retail malls and an office building, with assets under management totalling approximately S$6.5 billion.
They recently increased their stake in NEX Mall to 50% and raised around S$200 million. On April 2, 2024, REITs announced they were giving out an early payment of S$0.0425 for their performance from October 2023 to February 2024.
Getting included in the Straits Times Index also solidified its standing in the market, making its dividends even more appealing.
3. DBS Group
DBS Group, Singapore’s top banking institution, delivered a stellar financial performance in 2023.
In 2023, they made S$20.2 billion, 22% more than the year before, with a net profit of S$10.1 billion, a 23% increase year-on-year.
In light of its robust performance, DBS announced a final dividend of S$0.54 per share, up 26% from last year. This makes their total for 2023 S$1.92 per share. The final dividend will be given out on April 19.
Also, the bank declared a 1-for-10 bonus issue, with bonus shares qualifying for the first interim dividend of 2024, proving they’re all about rewarding their investors.
4. Aztech Global
Aztech Global, a prominent electronics design, engineering, and manufacturing player, achieved commendable financial results in 2023.
They made S$820.2 million in 2023, 9.3% more than the year before, and their profit shot up by 48.8% to S$67.2 million. Aztech Global generated a positive free cash flow of S$79.2 million, highlighting its robust financial position.
In line with its performance, the company announced a final cash dividend of S$0.05 per share, which will be given out on April 30.
This shows that they’re committed to giving back to their shareholders. Their order book of S$333.9 million as of February 22, 2024, indicates that they’re growing and can keep up with their dividends.
5. Civmec Ltd
Civmec Ltd, an Australian firm offering integrated construction and engineering services, delivered a commendable performance in its fiscal first half ending 31 December 2023.
They made A$492.3 million (approx. S$433.14 million) in the first half of their fiscal year ending in December 2023, 17.5% more than the year before, with a profit of A$31.9 million (approx. S$28.07 million), up by 12.8%.
Civmec declared an interim dividend of A$0.025 (approx. S$0.022) per share, 25% more than last year. This proves they’re focused on rewarding their investors. The dividend payout will be on April 15.
Despite a slight drop in their order book, which stood at A$1 billion (approx. S$880 million) at the close of the fiscal year, Civmec’s resilient performance and dividend distribution signal its strength in the market. /TISG
Read also: 3 Singapore game-changer stocks to watch out for in April
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