SGX-listed Singapore Telecommunications, or Singtel (SG:Z74) offers a lucrative dividend yield of 5.58%, significantly higher than the sector average. Singtel is one of the four major mobile network operators in Singapore as well as the country’s prime fixed-line operator.
Not just that, analysts have rated Z74 stock a Strong Buy. Regarding share price appreciation, analysts predict the stock could have a roughly 35% upside potential over the next twelve months.
To find this high dividend-yielding stock, we used the TipRanks’ Top Singapore Dividend Stocks tool. This tool is useful for screening stocks from a particular market and analyzing them across various parameters. It is available across 10 different markets on TipRanks.
Singtel Offers Attractive Dividends
For the six months ending September 30, 2023, Singtel approved an interim dividend of S$0.052 per share, higher than the prior-year dividend of S$0.046 per share. The payment date for the same is set for December 8. Notably, Singtel recently expanded its dividend policy to pay ordinary dividends between 70% to 90% of its underlying net profit, up from the earlier range of 60% to 80%.
For its first-half results for the fiscal year 2024, Singtel reported robust net profit growth and meaningful underlying profit growth. Singtel boasts a strong presence both in its home country and international markets, supported by meaningful acquisitions. The company’s vast offerings across mobile, home, and enterprise solutions have created a solid brand.
Is Singtel a Good Stock to Buy?
With eight unanimous Buys, Z74 stock commands a Strong Buy consensus rating on TipRanks. The Singtel share price forecast of S$3.08 implies 35.1% upside potential from current levels. Year-to-date, Singtel shares have lost 5.8%.
