The Singapore stock market has shown resilience amid global economic uncertainties, with the Straits Times Index maintaining steady performance. In such a stable environment, dividend stocks can offer attractive returns for investors seeking income and stability. A good dividend stock in this context is one that not only provides consistent payouts but also demonstrates strong fundamentals and growth potential in line with current market conditions.

Top 10 Dividend Stocks In Singapore

Click here to see the full list of 19 stocks from our Top SGX Dividend Stocks screener.

Here we highlight a subset of our preferred stocks from the screener.

Singapore Airlines

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Singapore Airlines Limited, with a market cap of SGD22.25 billion, operates passenger and cargo air transportation services through its Singapore Airlines and Scoot brands across East Asia, the Americas, Europe, Southwest Pacific, West Asia, and Africa.

Operations: Singapore Airlines Limited generates revenue through its Full Service Carrier (SGD16.18 billion), Low-Cost Carrier (SGD2.45 billion), and Engineering Services (SGD1.09 billion) segments.

Dividend Yield: 7.7%

Singapore Airlines offers a mixed picture for dividend investors. The company's dividends are well-covered by both earnings (payout ratio: 75.9%) and cash flows (cash payout ratio: 45.9%). However, the dividend track record has been unstable over the past decade despite recent increases. A recent share buyback program authorized up to 148.88 million shares, potentially enhancing shareholder value but not necessarily indicating long-term dividend stability given forecasted earnings declines of 20.2% per year over the next three years.

• Click here to discover the nuances of Singapore Airlines with our detailed analytical dividend report.

• The valuation report we've compiled suggests that Singapore Airlines' current price could be quite moderate.

Nordic Group

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Nordic Group Limited (SGX:MR7) is an investment holding company providing global solutions in system integration, maintenance, repair, overhaul, trading, precision engineering, scaffolding, insulation, petrochemical and environmental engineering as well as cleanroom and air and water engineering with a market cap of SGD133.70 million.

Operations: Nordic Group Limited generates revenue primarily from Project Services amounting to SGD69.93 million and Maintenance Services totaling SGD83.13 million.

Dividend Yield: 4.7%

Nordic Group's dividend payments have been volatile over the past decade, with a recent decrease in interim dividends to 0.8526 Singapore cents per share. Despite this, the company's dividends are well-covered by earnings (payout ratio: 40%) and cash flows (cash payout ratio: 32.7%). Trading at 46.4% below its estimated fair value, Nordic Group presents a potentially undervalued opportunity for investors seeking dividend income, though its unstable track record warrants caution.

• Delve into the full analysis dividend report here for a deeper understanding of Nordic Group.

• According our valuation report, there's an indication that Nordic Group's share price might be on the cheaper side.

Bumitama Agri

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Bumitama Agri Ltd. is an investment holding company involved in the production and trade of crude palm oil, palm kernel, and related products for refineries in Indonesia, with a market cap of SGD1.24 billion.

Operations: Bumitama Agri Ltd. generates revenue primarily from its Plantations and Palm Oil Mills segment, amounting to IDR15.55 trillion.

Dividend Yield: 6.7%

Bumitama Agri's dividend yield stands at 6.7%, placing it in the top 25% of SG market payers. Despite a volatile dividend history, recent payouts are well-covered by earnings (payout ratio: 47.2%) and cash flows (cash payout ratio: 54.8%). The company reported H1 sales of IDR 7.60 trillion but saw a decline in net income to IDR 856.79 billion from IDR 1.19 trillion last year, reflecting potential future earnings challenges for dividend sustainability.

• Click to explore a detailed breakdown of our findings in Bumitama Agri's dividend report.

• Upon reviewing our latest valuation report, Bumitama Agri's share price might be too pessimistic.

Next Steps

• Click this link to deep-dive into the 19 companies within our Top SGX Dividend Stocks screener.

• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.

• Join a community of smart investors by using Simply Wall St. It's free and delivers expert-level analysis on worldwide markets.

Interested In Other Possibilities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.

• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.

• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include SGX:C6L SGX:MR7 and SGX:P8Z.

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