3 Dependable Singapore Blue-Chip Stocks with Dividend Yields of 5.1% or Higher

Royston Yang
·5-min read
Waterway Point
Waterway Point

You may be wondering about the allure associated with blue-chip stocks.

Blue-chip stocks are so-named because of their long track record of braving through various economic cycles.

They are also larger companies that can withstand challenges and possess a competitive edge in terms of their business model and management team.

The great news is, most blue-chip stocks also pay out a dividend.

This dividend can help you to build a steady stream of passive income that will supplement your earned income.

Here are three reliable Singapore blue-chip stocks that sport dividend yields of 5.1% or more.

DBS Group (SGX: D05)

DBS needs no introduction as it is well-known for being Singapore’s largest bank by market capitalisation.

The lender provides a comprehensive range of services that includes banking, insurance, and investments.

DBS recently announced a sparkling set of earnings for the third quarter of 2024 (3Q 2024) which saw its net profit surpass S$3 billion for the first time.

For the quarter, total income rose 11% year on year to S$5.7 billion on the back of a 3% year-on-year increase in net interest income.

Fee and commission income contributed to the increase in total income by jumping 32% year on year to S$1.1 billion.

Operating profit before allowances improved by 11% year on year to S$3.5 billion as expenses rose just 10% year on year.

Net profit came in at S$3 billion, up 17% year on year.

DBS declared a quarterly dividend of S$0.54 for 3Q 2024, bringing its annualised dividend per share to S$2.16.

At a share price of S$42.75, this represents a forward dividend yield of 5.1%.

Meanwhile, the board also established a new S$3 billion share buyback programme which will provide a permanent lift to earnings per share and help to raise the bank’s return on equity.

For its 2025 outlook, the bank expects group net interest income to remain around 2024’s levels but net profit will drip below this year because of the imposition of a new global minimum tax rate of 15%.

Mapletree Logistics Trust (SGX: M44U)

Mapletree Logistics Trust, or MLT, is an industrial REIT with a portfolio of 186 properties across eight countries.

The REIT boasts assets under management (AUM) of S$13.4 billion as of 30 September 2024.

MLT reported a downbeat set of earnings for the first half of fiscal 2025 (1H FY2025) ending 30 September 2024.

Gross revenue dipped by 1.1% year on year to S$365 million while net property income (NPI) fell by 1.5% year on year to S$315.3 million.

Borrowing costs increased by 8.8% year on year to S$78.3 million due to overall higher interest rates.

The increase led to distribution per unit (DPU) falling by 9.8% year on year to S$0.04095.

MLT’s trailing 12-month DPU stood at S$0.08559, giving its units a trailing distribution yield of 6.6%.

Despite the DPU drop, MLT maintained a healthy portfolio occupancy rate of 96%.

However, its rental reversion rate turned negative for the second quarter of fiscal 2025 at -0.6% and was dragged down by China.

Excluding China, the REIT would have reported a positive rental reversion of 3.6%.

Frasers Centrepoint Trust (SGX: J69U)

Frasers Centrepoint Trust, or FCT, is a retail REIT with a portfolio of nine suburban malls and an office building.

The REIT’s AUM was approximately S$7.1 billion and its retail portfolio had around 2.7 million square feet of net lettable area.

FCT delivered a resilient set of earnings for its fiscal 2024 (FY2024) ending 30 September 2024.

Gross revenue and NPI fell by 4.9% and 4.6%, respectively, to S$351.7 million and S$253.4 million.

DPU, however, experienced a gentler drop, falling by just 0.9% year on year to S$0.12042.

FCT’s shares provide a trailing distribution yield of 5.7%.

The retail REIT displayed strong operating metrics all around.

Its retail portfolio committed occupancy stood high at 99.7% with FY2024’s tenant sales and shopper traffic up 1.2% and 4.2% year on year, respectively.

Rental reversion came in positive at 7.7% for FY2024, higher than the prior year’s 4.7%, and was supported by healthy leasing demand.

FCT maintained a moderate level of gearing at 38.5% with an average all-in cost of debt of 4.1%.

Around 71.4% of the REIT’s loans are hedged to fixed rates.

Its Tampines 1 asset enhancement initiative (AEI) was completed in August with 100% committed mall occupancy.

More than 9,000 square feet of net lettable area was created and deployed to prime retail floors.

This AEI generated a return on investment exceeding 8%.

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Disclosure: Royston Yang owns shares of DBS Group.

The post 3 Dependable Singapore Blue-Chip Stocks with Dividend Yields of 5.1% or Higher appeared first on The Smart Investor.

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