Using the TipRanks Top Singapore Dividend Stocks tool, we have shortlisted the top three companies with dividend yields of more than 5%.
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SGX-listed companies Golden Agri-Resources (SG:E5H), Keppel Corporation Limited (SG:BN4), and Singapore Technologies Engineering (SG:S63) not only have higher dividend yields but also have upside potential in their share prices.
This tool helps investors compare these companies on various parameters such as analysts’ consensus, target price, smart score, etc. It gives a quick and precise summary while comparing the stocks, making it easy to choose the better stock or stocks for further research.
Let’s have a look at some details.
Golden Agri-Resources (GAR)
GAR is a leading palm oil plantation company with products available in around 100 countries.
The company tops the chart in the Singapore market with a dividend yield of 7.6%. With a huge demand for palm oil globally, the company’s revenue and profitability are growing, ensuring a stable dividend payment for its shareholders. The company distributes 30% of its underlying profits as dividends.
For 2022, the company declared an interim dividend of S$0.008 per share and a final dividend of S$.0099 per share.
Golden Agri-Resources Target Price
According to TipRanks’ rating consensus, E5H stock has a Hold rating.
The average target price is S$0.31, implying an upside potential of 19.3% from the current price level.
Keppel Corporation Limited
Keppel is a group company that operates in the marine, infrastructure, energy, asset management, and urban development sectors through its subsidiaries.
Keppel has a dividend yield of 5.97% as compared to its sector’s average of 1.63%. Despite having a tough time in 2022, the company declared a total dividend of S$0.33 per share, similar to the amount paid in 2021. On a year-over-year basis, the company saw a decline of 9% in its net profits of S$926.7 million in 2022.
What is the Target Price for Keppel Corp?
BN4 stock has a Moderate Buy rating on TipRanks, based on four Buy and one Sell recommendations.
The average target price of S$9.39 suggests a huge upside of almost 70% from the current price level.
Singapore Technologies Engineering (ST Engineering)
ST Engineering is a Singapore-based company that provides technology and engineering solutions to a wide range of businesses in aerospace, smart cities, defense, public security, and more.
The company is way ahead of its peers with a dividend yield of 5.04%. In 2022, the company announced a total dividend of S$0.16 per share, higher than S$0.15 paid in 2021.
ST Engineering Share Price Target
According to TipRanks consensus forecast, S63 stock has a Strong Buy rating. It is based on seven Buy and one Sell recommendations.
The target price of S$4.03 is 13.3% higher than the current price level.
Final Thoughts
As a value investor, if you want to boost your dividend income, these three stocks provide a good opportunity in the Singapore market. Along with higher payouts, these stocks also offer capital appreciation in their share prices.