Three SGX Dividend Shares for your 2023 Portfolio
Global Markets

Three SGX Dividend Shares for your 2023 Portfolio

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These three shares from the Singapore markets could be a great addition for value investors with their above-average dividend yields.

SGX-listed companies Golden Agri-Resources (SG:E5H), CapitaLand Integrated Commercial Trust (SG:C38U), and OCBC (SG:O39) have higher dividend yields than their respective sector averages. This makes them popular picks among investors looking for good dividend payments from their portfolios.

Choosing the right dividend shares is quite easy with a variety of tools from TipRanks. Investors can choose the ideal stock with the help of tools like Top Dividend Stocks, Dividend Calculator, Dividend Calendar, and more.

Let’s have a look at these companies in detail.

Golden Agri-Resources (GAR)

GAR is among the leading palm oil companies in the world, with operations in 12 countries. The company has a brand portfolio of 30 products.

Last month, the company reported its annual results for 2022 with a 12% growth in revenues of $11.4 billion. The company posted a record growth of 53% in its underlying profits of $922 million, up from $603 million in 2021.

The company announced a final dividend of S$0.0099, which takes the total dividend for 2022 to S$.0179. This year’s dividend was the company’s biggest ever and was 12% higher than the previous year.

Moving forward, the company is well-positioned to benefit from the rising demand for palm oil globally. This will help the company to maintain and grow its profitability and dividend payments.

Golden Agri Resources Share Price Target

According to TipRanks’ rating consensus, E5H has a Moderate Buy rating.

The average target price is S$0.31, which is 9% higher than the current price level.

Oversea-Chinese Banking Corporation Limited (OCBC Bank)

OCBC is one of the oldest banks in Singapore which provides banking, asset management, insurance, and treasury services in 19 countries.

The bank’s annual results for 2022 depicted growth from its diversified portfolio and higher cost efficiency amid a changing environment. OCBC’s net profit increased by 18% to S$5.75 billion, as compared to S$4.86 billion in 2021. The net interest income grew by 31% during the year to S$7.6 billion as a result of rate hikes by the government. However, the non-interest income declined by 16% to S$4 billion.

During its results presentation, the management announced a final dividend of S$0.4 per share, which is 43% higher than the previous year’s. The total dividend for 2022 is S$0.68 per share, significantly up from S$0.15 in 2021.

Is OCBC a Buy Now?

OCBC stock has a Strong Buy rating on TipRanks, based on seven Buy and One Hold recommendations.

The average share price target of S$14.70 suggests an upside of 18.8% to the current price.

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CapitaLand Integrated Commercial Trust (CICT)

CICT is a real estate management trust in Singapore that invests in office spaces and commercial properties.

The company’s performance in 2022 was driven by acquisitions and operational efficiency. In 2022, the company’s revenues grew by 10.5%, and net property income was up by 9.7% on a year-over-year basis. The company is optimistic about 2023 numbers as post-pandemic recovery in the real estate market will further drive its rental income.

Talking about its dividends, the company has a yield of 4%, as compared to the sector average of 2.1%.

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CICT has CapitaLand Investment Limited (SG:9CI) as a strong sponsor, which provides assurance to its investors for future dividends.

CapitaLand Integrated REIT Share Price Target

C38U has a Strong Buy rating on TipRanks based on all six Buy recommendations.

The average target price is S$2.23, which is almost 20% higher than the current trading price.

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Regular income in the form of dividends is really important for investors losing hope in the current trading environment. These three SGX shares are good options to provide stability to investors’ portfolios.

All three shares, E5H, C38U, and O39, reported good numbers in their 2022 annual results, which reaffirmed their consistent dividend payments.



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