SGX-listed Oversea-Chinese Banking Corp. Ltd., or OCBC (SG:O39), and Singapore Airlines Limited, or SIA (SG:C6L), are popular stocks in the market known for their steady dividend income. These stocks present solid choices for investors seeking to supplement their income within their investment portfolios. Analysts have assigned a Moderate Buy rating to OCBC, with a potential upside of approximately 15%. Meanwhile, SIA has received a Hold rating from analysts, indicating a growth potential of 24%.
Here we have used the TipRanks Top Singapore Dividend Stocks tool to screen these companies from the Singapore market. This tool simplifies the process of screening and selecting high-yield dividend stocks within a specific market while evaluating them against various parameters.
Let’s take a look at these companies in detail.
What is the Dividend Payout for OCBC in 2023?
OCBC Bank is the oldest and one of the largest banks in Singapore. With a robust footprint in regional markets, the bank regards China as its second-most profitable region.
OCBC continues to attract investors with its impressive dividend yield of 6.29%, which significantly exceeds the sector average of 2.1%. The bank announced an interim dividend of S$0.40 per share for the first half of 2023, representing a 43% increase from S$0.28. This decision aligns with a payout ratio of 50% based on the group’s net profit for the first half.
Furthermore, the bank’s remarkable performance in their robust Q2 2023 earnings report establishes the bank as an attractive option among local bank stocks. The bank has reported record-breaking profits of S$1.71 billion in the first half of 2023.
The bank will publish its Q3 2023 earnings report on November 10, 2023.
What is the Target Price for OCBC Share?
According to TipRanks’ rating consensus, O39 stock has a Moderate Buy rating backed by a total of 10 recommendations from analysts. This includes six Buy and four Hols ratings. The OCBC share price target is S$14.51, which is 14% higher than the current price level.
What is the Dividend for SIA 2023?
SIA is a well-known global airline and holds the position of the flagship carrier for Singapore. The company operates flights to approximately 107 destinations across the globe, with a particularly strong presence in Asian regions.
SIA offers a dividend yield of 6.28%, surpassing the industry’s average rate, making it a preferred choice for investors focused on generating income.
The company reinstated its dividend policy following a three-year hiatus in 2023, aligning with record-breaking financial results driven by the recovery of global travel. The last dividend distribution by the company was in 2019. For FY23, the total dividend amounted to S$0.38 per share, split into two parts: an interim dividend of S$0.10 paid in December 2022 and a final dividend of S$0.28 paid in August 2023.
Is Singapore Airlines Stock a Good Buy?
C6L stock has received a Hold rating on TipRanks, backed by one Buy, one Hold, and two Sell recommendations. The SIA share price target is S$7.56, which shows a change of 24% from the current level.
Year-to-date, the stock has been trading up by 15%.
