Income investors are always on the lookout for solid, dividend-paying stocks.
The best ones are those that not only pay out consistent, dependable dividends, but also raise them over the years.
By owning such companies and then reinvesting their dividends through compounding, income investors can build up a growing flow of dividends that can sustain them through their retirement.
Speaking of increased dividends, here are three attractive Singapore stocks that hiked their dividends by 36% or more this earnings season.
If you are searching for reliable cash flow, these three stocks could end up on your buy watchlist.
SATS Ltd (SGX: S58)
SATS is a provider of ground handling, air cargo handling services, and airline food catering.
Together with Worldwide Flight Services (WFS), which was acquired in 2023, the combined entity operates more than 215 stations across 27 countries.
The airline caterer reported a sparkling set of earnings for its fiscal 2025 (FY2025) ending 31 March 2025.
Revenue rose 13% year on year to S$5.8 billion while operating profit shot up 94.8% year on year to S$475.7 million.
Net profit soared more than fourfold year on year from S$56.4 million to S$243.8 million.
The ground handler also generated a strong positive free cash flow of S$669.4 million, more than double the S$326.5 million churned out in FY2024.
A final dividend of S$0.035 was declared, taking the total FY2025 dividend to S$0.05.
FY2025’s dividend was more than triple the S$0.015 paid out in FY2024 as the blue-chip group emerged from the pandemic.
SATS also reported robust operating statistics with the number of flights handled rising 5.8% year on year to 635,000.
Cargo handled climbed 15.1% year on year to 9 million tonnes while total aviation meals served jumped 21.1% year on year to 65.6 million.
The group will continue to invest in modernising Singapore’s Hub, expand the Marine Bay Cruise Centre (MBCC), and extend its operations.
In mid-May, SATS committed over S$250 million to upgrade and transform its capabilities at Changi Airport, with S$150 million spent over five years to renew and expand its SG Hub ground support fleet and the remainder to upgrade cargo operations.
MBCC will be undergoing its most extensive upgrade since 2012 to prepare the property for a higher volume of visitors in the future.
DBS Group (SGX: D05)
DBS should be a familiar name to many Singaporeans, being the country’s largest bank by market capitalisation.
The lender provides a comprehensive range of banking, insurance, and investment services to both individuals and corporations.
DBS reported a commendable set of earnings for the first quarter of 2025 (1Q 2025).
Commercial book net interest income (NII) rose 2% year on year to S$3.7 billion, despite the bank’s net interest margin (NIM) falling from 2.14% to 2.12% over the same period.
The 2% year-on-year growth in customer loans to S$435.3 billion helped to offset the lower NIM and helped NII to post a small year-on-year increase.
Commission and fee income climbed 22% year on year to S$1.3 billion on higher wealth management fees and card spending.
As a result, DBS’s total income rose 6% year on year to S$5.9 billion.
Net profit for the bank, however, came in at S$2.9 billion, down 2% year on year.
The lower profit was because of the implementation of a global minimum tax rate of 15%.
DBS upped its interim dividend to S$0.75 for 1Q 2025, comprising a core ordinary dividend of S$0.60 and a capital return dividend of S$0.15.
The total dividend was almost 39% higher than the S$0.54 paid out in the previous corresponding period.
With Trump’s tariffs in place, DBS expects heightened uncertainty, trade disruptions, and a possible global growth slowdown.
However, the bank still sees continued wealth inflows and has identified new growth sectors and opportunities to thrive despite these challenges.
Boustead Singapore (SGX: F9D)
Boustead Singapore, or BSL, is a conglomerate with four distinct divisions – energy engineering, real estate, geospatial technology, and healthcare.
BSL reported a mixed set of earnings for FY2025.
Revenue fell 31% year on year to S$527.1 million because of significantly lower revenue recognised for Real Estate, along with lower revenue for energy engineering.
Net profit, however, surged 48% year on year to S$95 million because of a one-off S$29 million gain from the transfer of Boustead Projects’ fund management business to UIB (Unified Industrial) in exchange for a shareholding in UIB.
After adjusting for these one-off items, core net profit would have risen 8% year on year to S$68.6 million.
The conglomerate also generated a positive free cash flow of S$68 million for FY2025, albeit a quarter lower than FY2024’s S$91.5 million.
BSL declared a final dividend of S$0.04 and a special dividend of S$0.02 in light of reasonable profitability and a healthy cash balance, taking the total FY2025 dividend to S$0.075.
This total dividend was 36.4% higher than the S$0.055 paid out for FY2024.
The group secured a total of S$377 million in new engineering contracts in FY2025, along with major variation orders, which was more than double what was secured in FY2024.
Its engineering order backlog stood at around S$349 million as of 31 March 2025.
Boost your portfolio’s returns with 5 SGX stocks that promise both stability and steady growth. We bring you the names of these rock-solid stocks, including why they could drive massive dividends over the next few years. If you’re looking to invest for retirement, this guide is a must-read. Click HERE to download now.
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Disclosure: Royston Yang owns shares of DBS Group and Boustead Singapore.
