SINGAPORE: It’s February, and income investors have reasons to cheer with these three stocks paying out dividends in February 2024, according to The Smart Investor.
1. Suntec REIT
Suntec REIT, a retail and commercial Real Estate Investment Trust (REIT), operates across Singapore, Australia, and the UK, managing commercial properties, including Suntec City, Singapore’s largest integrated commercial development.
Despite reporting a mixed set of results for 2023, with gross revenue rising 8.3% year-on-year, the net property income slipped slightly by 0.8% to S$313.2 million.
The distribution per unit (DPU) for 2023 fell by 19.7% year-on-year to S$0.07135. However, the committed occupancy for Suntec REIT remains robust at 94.9% and 95.2% for its office and retail portfolios, respectively.
Investors holding Suntec REIT shares will see a dividend payout of S$0.01866 on Feb 28.
2. Jumbo Group Ltd
Jumbo Group, a well-known multi-concept food and beverage (F&B) operator, reported a stellar fiscal year 2023 ending Sept 30, 2023.
With a 54.7% year-on-year jump in revenue to S$178.8 million, a gross profit increase of 56.1% to S$117 million, and a net profit of S$14.2 million, Jumbo Group is on solid financial ground.
Investors in Jumbo Group will enjoy a dividend treat as a final dividend of S$0.01 will be paid out on Feb 2.
The company’s recent announcement of two new F&B outlets at Clarke Quay Central positions it well to attract footfall from both locals and tourists.
However, management did raise concerns about lower sales in China and increased operational costs in Singapore due to inflation.
3. Fraser & Neave Ltd
Fraser & Neave, a stalwart in the food and beverage industry, was impressed with its FY2023 earnings. The group, engaged in selling beverages such as milk and carbonated drinks, reported a 4.8% year-on-year increase in revenue to S$2.1 billion.
The trading profit improved by 18% to S$151.9 million, and net profit rose by 3% to S$133.3 million.
In celebration of its 140th anniversary, Fraser & Neave declared a final dividend of S$0.04, elevating the FY2023 dividend to S$0.055, up from the previous year’s S$0.05. Investors can look forward to receiving the S$0.04 dividend on Feb 16.
In addition, Fraser & Neave’s groundbreaking ceremony for its new integrated dairy farm in Negeri Sembilan, Malaysia, costing RM 1 billion, signifies the company’s commitment to expansion.
The farm is expected to accommodate 20,000 milking cows, with an anticipated annual production of 200 million litres of fresh milk.
The exclusive manufacturing and distribution rights for Nestle’s Bear Brand sterilised milk in Cambodia further solidify Fraser & Neave’s regional presence. /TISG
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