In an unpredictable market with uncertain interest rates, dividends offer a safe harbour with potential long-term returns.
Need some examples?
Here are four Singapore-listed companies — Haw Par (SGX:H02), Singapore Technologies Engineering (SGX:S63) or ST Engineering, Singapore Exchange (SGX:S68) or SGX, and United Overseas Bank (SGX:U11) or UOB — that are positioned to be reliable dividend payers for the next 10 years.
Haw Par Corporation
Haw Par is a Singaporean manufacturing and investment company which deals in healthcare, pharmaceuticals, leisure products, and property.
Best known as the owner of Tiger Balm, the company is a steady dividend payer with strong cash reserves and recurring dividend income from its stakes in United Overseas Bank (SGX: U11 and UOL Group (SGX: U14).
Specifically, its dividend per share (DPS) has grown by 7.2% over the last 10 years, with a dividend yield of 2.7% (excluding its special dividend), lower than the STI’s trailing twelve months (TTM) yield of around 4%.
Haw Par also has a healthy payout ratio of around 35% over its TTM, while maintaining a large cash balance at $700 million.
The company’s healthy financials allow it to consistently provide shareholders with a reliable stream of dividends.
ST Engineering
ST Engineering is a conglomerate with global exposure in the technology, defense, aerospace, and digital solutions industries.
The group has paid growing dividends over the past decade, supported by its strong order books and recurring contracts.
ST Engineering has guided for a dividend payout of S$0.18 per share in 2025, and has revised its dividend policy to pay out one-third of its year-on-year increase in net profit as incremental dividends from 2026 onwards.
Since 2020, the Singaporean conglomerate has grown its earnings per share (EPS) at a compounded annual growth rate of around 9% and its operating profit by 13.4%.
Looking ahead, ST Engineering possesses an overall order book of S$31.2 billion, with S$9.1 billion in new contracts won in the first half of 2025 (1H2025) and a further S$4.9 billion in 3Q2025.
Apart from that, roughly 45% of its 1H2025 sales are defense-related, giving it stability due to its numerous contracts with the Singapore government.
Singapore Exchange (SGX)
SGX is the only stock exchange operator in Singapore, operating equity, fixed income, currency, and commodity markets.
The company stands out as a dividend stalwart benefiting from recurring trading income, with strong margins and cash flow enabling stable or growing dividends, even during market volatility.
SGX’s dividend per share has grown by nearly S$0.10 in the past 10 years, reaching S$0.37.5 per share for its fiscal year ending 30 June 2025 (FY2025).
Currently, its dividend yield is 2.2%.
As for its earnings, about 56% of SGX’s revenue comes from fixed income, currencies, and commodities (FICC), and derivatives, which are strong generators of revenue growth despite their volatility.
SGX also sports a high operating margin at 54.2%, an indication of its position as the sole bourse operator in Singapore.
United Overseas Bank (UOB)
UOB is one of three major banks in Singapore which pay a dividend, supported by stable earnings and its recent Southeast Asian expansion.
The local bank has a track record of keeping dividends stable even during periods of economic downturn.
In fact, its dividend per share has steadily increased since the pandemic, from S$0.78 in 2020 to S$2.30 in 2024 (including S$0.50 in special dividends).
For 1H2025, UOB paid out S$0.85.
Simultaneously, the local bank has been performing excellently in recent years, with a return on equity in 2Q2025 of 11%, while net profit grew to a record S$6 billion in 2024.
In terms of dividend sustainability, UOB has a capital position well above regulatory requirements, with a Common Equity Tier 1 (CET1) ratio of 15.3% in 2Q2025.
This was driven by strong earnings and robust internal capital generation despite high dividend payouts, making UOB an astute choice amongst dividend-paying stocks.
Combined with its strong capital base and expansion plans, UOB is a candidate for investors looking for a long-term dividend compounder.
What This Means for Investors
Good dividend stocks like Haw Par, ST Engineering, SGX, and UOB have steady cash flows, prudent management, and are resilient to market conditions.
Therefore, investors building a long-term dividend portfolio should heavily consider the aforementioned four stocks, due to their ability to consistently create value for shareholders.
Get Smart: Pick Dependable Stocks
Haw Par Corporation, ST Engineering, SGX, and UOB are positioned to continuously grow profits in the following years due to their excellent financial positions relative to the market.
This makes them excellent dividend stocks to own in the long term, especially for investors who desire consistency and sustainable returns.
We’ve found 5 SGX-listed dividend stocks with strong track records in turbulent markets. If you want consistency in an uncertain world, start here.
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Disclosure: Daniel does not own shares in any of the companies mentioned.
