Blue-chip stocks are well-loved not just for their stability, but also their ability to continue to grow amid tough times.
These are the reasons why such stocks form the bedrock of many investors’ portfolios.
The great thing is – many of them also pay out a dividend to boot, allowing you to enjoy a steady stream of passive income.
What’s even better than receiving a dividend is to enjoy an increasing dividend as the higher payout helps you to beat inflation.
We feature four attractive Singapore blue-chip stocks that recently upped their dividends.
DBS Group (SGX: D05)
DBS is Singapore’s largest bank by market capitalisation.
The lender reported a robust set of earnings for 2024 as elevated interest rates boosted its business.
For 2024, commercial book net interest income rose 5% year on year to S$15 billion.
Commercial book net fee and commission income jumped 23% year on year to S$4.2 billion.
As a result, the bank’s total income grew 10% year on year to S$22.3 billion.
Net profit came in at S$11.3 billion, a record high and 12% higher than the previous year.
In line with the good results, the Board upped DBS’s quarterly dividend to S$0.60, S$0.06 higher than the previous payout of S$0.54.
With this increase, 2024’s total dividend stood at S$2.22, up 27% year on year.
In addition, the Board is also looking at managing the lender’s excess capital and will be paying out a capital return dividend of S$0.15 per share per quarter over 2025.
DBS expects 2025’s net interest income to be slightly above 2024’s, boosted by loan growth but offset by a decline in net interest margins.
Net profit, though, should be below last year because of a global minimum tax rate of 15%.
CapitaLand Integrated Commercial Trust (SGX: C38U)
CapitaLand Integrated Commercial Trust, or CICT, is a retail and commercial REIT with a portfolio of 26 properties across Singapore (21), Germany (2), and Australia (3).
The REIT’s assets under management (AUM) stood at S$26 billion as of 31 December 2024.
CICT delivered a resilient performance for 2024 with gross revenue rising 1.7% year on year to S$1.6 billion.
Net property income (NPI) increased by 3.4% year on year to S$1.15 billion while distribution per unit (DPU) inched up 1.2% year on year to S$0.1088.
The REIT reported solid operating metrics with portfolio committed occupancy at 96.7%.
Demand for its properties stayed high as evidenced by a positive rental reversion of 8.8% for its retail division and 11.1% for its office segment.
Tenant sales and shopper traffic were also healthy, rising by 3.4% and 8.7% year on year, respectively, for 2024.
CICT has two ongoing asset enhancement initiatives (AEIs) at the IMM Building in Singapore and Gallileo in Germany.
These AEIs should be completed by the end of this year and deliver sustainable growth for the REIT.
CapitaLand Ascendas REIT (SGX: A17U)
CapitaLand Ascendas REIT, or CLAR, is Singapore’s oldest industrial REIT and owns a portfolio of 229 properties.
The REIT’s AUM stood at S$16.8 billion as of 31 December 2024.
CLAR reported an admirable set of earnings for 2024 with gross revenue climbing 2.9% year on year to S$1.5 billion, contributed by better operating performance and acquisitions completed in 2023.
NPI increased by 2.6% year on year to S$1.05 billion while DPU crept up 0.3% year on year to S$0.15205.
Like CICT, CLAR also reported encouraging operating statistics.
Portfolio occupancy was healthy at 92.8% and the portfolio enjoyed a positive rental reversion of 11.6%.
The industrial REIT also completed two acquisitions for 2024 along with two small AEIs, and also divested four properties in Singapore (3) and Australia (1) for S$177 million.
CLAR still has eight ongoing AEIs worth S$803.6 million that will be progressively completed from 1Q 2025 through to 1Q 2028.
Singapore Exchange Limited (SGX: S68)
Singapore Exchange Limited, or SGX, is Singapore’s sole stock exchange operator.
The group operates a platform for the buying and selling of a wide variety of securities such as derivatives, equities, and bonds.
For the first half of fiscal 2025 (1H FY2025) ending 31 December 2024, SGX saw its revenue jump 15.6% year on year to S$646.4 million.
Net profit (excluding exceptional items) climbed 27.3% year on year to S$320.1 million.
In tandem with the good results, SGX upped its quarterly dividend to S$0.09 from S$0.085 previously.
The bourse operator’s annualised dividend per share now stands at S$0.36.
Management has set a target to grow its dividend per share by mid-single-digit % per year in the medium term.
It is also confident of achieving revenue growth of between 6% to 8% per annum in the medium term.
Our FREE report, ‘7 Singapore Blue-Chip Stocks That Can Pay You for Life,’ reveals stable, dividend-paying stocks with a history of strong returns—even in uncertain markets. Get insights on Singapore’s most dependable blue-chips and see how they can offer you steady income. Download it today to start building your portfolio with confidence.
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Disclosure: Royston Yang owns shares of DBS Group and Singapore Exchange Limited.
