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With the annual general meeting season over last month, it’s no surprise that shareholders have approved the payment of dividends for companies that declared them.
Dividends represent a tangible return on your investment and also constitute a passive income stream that can supplement your retirement.
In particular, blue-chip stocks are well-known for paying out dividends and have also earned a reputation for being sturdy businesses that can weather economic storms.
Income-seeking investors should scour through the blue-chip space to identify good stocks to accumulate based on their recent earnings and dividend declarations.
We present five Singapore blue-chip stocks that are slated to pay out dividends this month.
Singapore Exchange Limited (SGX: S68)
Singapore Exchange Limited, or SGX, is Singapore’s sole stock exchange operator.
The group maintains a platform for the buying and selling of securities such as equities, fixed income, and derivatives.
For SGX’s fiscal 2023’s first half (1H FY2023) ending 31 December 2022, revenue rose 10% year on year to S$571 million.
Net profit surged by 30% year on year to S$285 million.
However, after adjusting for one-off items, net profit would have been 7% higher year on year at S$237 million.
An interim quarterly dividend of S$0.08 was declared that was paid on 24 February.
For the third quarter of fiscal 2023, SGX has declared another S$0.08 dividend that will be paid on 15 May.
The annualised dividend comes up to S$0.32, giving SGX’s shares a forward dividend yield of 3.3%.
The bourse operator’s multi-asset platform saw its daily average volume rise 10% year on year for 1H FY2023, with growth across the asset classes of equities, foreign exchange (FX) and commodities.
The group continues to expand its FX platforms, products and customer base and targets an average daily volume of US$100 billion in the medium term.
Genting Singapore Limited (SGX: G13)
Genting Singapore is the owner and operator of the integrated resort (IR) at Resorts World Sentosa (RWS).
RWS is a leading tourism destination with around 1,600 hotel rooms, a casino, one of the world’s largest aquariums, and a Universal Studios theme park.
For 2022, Genting saw a sharp 62% year on year surge in revenue as tourists and locals flocked to the IR’s attractions.
Operating profit doubled year on year from S$227.8 million to S$456.3 million.
Net profit soared 85% year on year to S$340.1 million.
The IR operator declared a final dividend of S$0.02, double what it paid out a year ago.
This dividend is payable on 24 May this year.
Genting Singapore plans to relaunch its newly-renovated Festive Hotel with the addition of 389 rooms to the IR’s inventory.
China’s reopening should also bring in a further influx of tourists to the IR, benefitting the group’s top and bottom lines.
CapitaLand Investment Limited (SGX: 9CI)
CapitaLand Investment Limited, or CLI, is a real estate investment manager with S$132 billion of assets under management and S$88 billion of funds under management as of 31 December 2022.
Revenue improved by 25.4% year on year for 2022 to S$2.9 billion with the group’s core net profit increasing by 22.5% year on year to S$609 million.
In line with the good results, CLI declared a cash dividend of S$0.12 and a special dividend-in-specie of 0.057 units of CapitaLand Ascott Trust (SGX: HMN), or CLAS, per share of CLI.
The CLAS special dividend amounted to around S$0.059, bringing the total dividend to S$0.179.
The cash dividend is slated for payment on 10 May.
CLI’s wholly-owned lodging business, The Ascott Limited, recently announced its new target of doubling its fee revenue to more than S$500 million over the next five years.
Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6)
Yangzijiang Shipbuilding, or YZJ, is one of the largest private shipbuilding companies in China.
The group owns five shipyards in Jiangsu province and produces a broad range of commercial vessels.
2022 saw YZJ’s revenue climb 37% year on year to RMB 20.7 billion with gross profit jumping 53% year on year to RMB 3.2 billion.
Net profit increased by 31% year on year to RMB 2.6 billion.
The shipbuilder declared a S$0.05 final dividend that will be paid out on 25 May.
During its fiscal 2023’s first quarter (1Q 2023) business update, YZJ announced that its order book had hit a historic high of US$10.98 billion.
The group had secured order wins of US$1.18 billion for 1Q 2023, making good progress on its 2023 target of snagging US$3 billion of orders.
DBS Group (SGX: D05)
DBS Group is Singapore’s largest bank by market capitalisation.
The group released an impressive set of earnings for 1Q 2023 as the bank reported a record-high net profit of S$2.57 billion.
An interim dividend of S$0.42 was declared and will be paid out on 22 May.
CEO Piyush Gupta believes that business momentum should stay healthy and expects the lender to post loan growth of between 3% to 5% year on year.
Fee income is also projected to improve by high single digits year on year for 2023.
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Disclosure: Royston Yang owns shares of Singapore Exchange Limited and DBS Group.
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