Top 3 SGX Dividend Stocks To Consider In August 2024

The Singapore market is navigating a complex landscape, influenced by global economic shifts and recent developments in cybersecurity. In this environment, dividend stocks can offer stability and consistent returns, making them an attractive option for investors seeking reliable income streams.

Top 10 Dividend Stocks in Singapore

Click here to see the full list of 18 stocks from our Top SGX Dividend Stocks screener.

Let’s take a closer look at some of our picks from the companies we researched.

Simply Wall St dividend rating: ★★★★☆☆

Overview: The Hour Glass Limited is an investment company engaged in the retail and distribution of watches, jewelry and other luxury products in various countries including Singapore, Hong Kong, Japan, Australia, New Zealand, Malaysia, Thailand and Vietnam, with a market capitalization of SGD 972.16 million.

Operation: The Hour Glass Limited generates SGD 1.13 billion from the sale and distribution of watches, jewelry and other luxury products.

Dividend yield: 5.3%

Hour Glass has a mixed dividend profile, with payments increasing over the past decade but showing volatility. The company’s dividends are well covered by both earnings (payout ratio: 33.5%) and cash flow (cash payout ratio: 46.2%). Recent management changes and a share buyback program could impact future payments, but the current final dividend of SGD0.06 per share remains stable for now, subject to shareholder approval at the upcoming AGM on 29 July 2024.

The story continues

Simply Wall St dividend rating: ★★★★★☆

Overview: Civmec Limited (SGX:P9D) is an investment company providing construction and engineering services to the energy, resources, infrastructure, maritime and defence sectors in Australia with a market capitalisation of SGD454.29 million.

Operation: Civmec Limited generates revenue from various sectors in Australia, including AUD46.02 million from energy, AUD752.82 million from resources and AUD105.52 million from infrastructure, marine and defence.

Dividend yield: 5.4%

Civmec recently changed its name to Civmec Singapore Limited and ratified a new constitution. The company announced a joint venture with Austal Limited for the LAND8710 Phase 2 project, strengthening its strategic position. Recent contract awards total A$174 million, including major projects in shipbuilding and maintenance. Civmec’s dividend yield of 5.36% is lower than top payers, but remains reliable and well covered by earnings (45.4%) and cash flows (27%).

Simply Wall St dividend rating: ★★★★★☆

Overview: Singapore Exchange Limited operates an integrated securities and derivatives exchange, associated clearing houses and an electricity market in Singapore, with a market capitalisation of SGD 10.67 billion.

Operation: Singapore Exchange Limited generates revenue from four main segments: Equities – Cash (SGD 334.94 million), Platform and Other (SGD 240.20 million), Equities – Derivatives (SGD 334.05 million) and Fixed Income, Foreign Exchange and Commodities (SGD 322.50 million).

Dividend yield: 3.6%

Singapore Exchange Limited reported revenue of S$1.23 billion and net income of S$597.91 million for the year ended 30 June 2024, reflecting steady growth. The company offers a reliable dividend yield of 3.61%, which has been stable and growing over the past decade. Dividends are well covered by earnings (payout ratio: 61.7%) and cash flows (cash payout ratio: 69.8%). However, the yield is lower compared to top dividend payers in the Singapore market.

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This article from Simply Wall St is general in nature. We comment solely on historical data and analyst forecasts, using an objective methodology. Our articles are not intended as financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your objectives or financial situation. We aim to provide you with a long-term analysis driven by fundamental data. Please note that our analysis may not take into account the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in the shares mentioned.

The companies discussed in this article include SGX:AGS, SGX:P9D, and SGX:S68.

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