Investors often prefer stocks yielding high payouts because of their stability. Being one of the most stable countries in Asia, Singapore’s best dividend stocks may be a wise purchase for the conservative investor.
Singapore provides a type of safety which is hard to find elsewhere in the region. There’s a strong rule of law, but more importantly, the Singapore Dollar is one of Asia’s most stable currencies.
Buying assets denominated in Vietnamese Dong or Indonesian Rupiah is probably much riskier.
These three companies are among Singapore’s best dividend stocks and have the highest yields on the nation’s stock market. Both of them are large, and two of them are state-owned companies. But they all have strong dividend yields in the mid-single digits.
1. Jardine Cycle and Carriage (5.73% Yield)
Singapore’s highest dividend yielding stock is also one of the country’s largest conglomerates. Jardine Cycle and Carriage (SGX: C07) was renamed from Cycle and Carriage following its merger with the Jardine Matheson Group.
They mostly sell and distribution brands such as Kia, Mercedes-Benz, and Mitsubishi in Singapore. Jardine Cycle and Carriage pays a massive yield of 5.73%, putting it at the top of this list.
2. Starhub (4.88% Yield)
Starhub Limited (SGX: CC3) is a telecommunications company which offers a full range of services including television, internet and mobile service.
The company is the sole operator of cable television in Singapore. Along with Temasek Holdings, Singapore’s only terrestrial television operator, Starhub holds a monopoly on Singaporean TV service.
3. Singapore Telecom (4.73% Yield)
Singapore Telecom (SGX: T48), more commonly known as Singtel, is the second telecommunications firm on this list. The company operates in many places including Thailand, India, The Philippines, and Indonesia.
With over 477 million mobile network subscribers worldwide, Singtel is not only the largest mobile phone operator in Singapore, but one of the largest in the world.
While local investors have lately been bearish on Singapore stocks, attractive valuations and high payouts should help equities in the city-state perform well in the future.
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