Income investors have a plethora of choices when it comes to dividend-paying stocks on the Singapore Stock Exchange.
They can choose to buy anything from REITs and solid blue-chip stocks to smaller, fast-growing companies that are paying out a portion of their earnings.
A useful method to filter out potential dividend stock ideas is to look for companies that are paying out dividends soon.
Investors can then review their recent earnings report to assess the sustainability of the dividend payment.
They can also look at the prospects for the business to determine if these dividends may be increased in future.
Here are four Singapore stocks dishing out dividends in November that could end up on your buy watchlist.
iFAST Corporation Limited (SGX: AIY)
iFAST is a financial technology (fintech) company operating a platform for the buying and selling of investment products such as unit trusts, equities, exchange-traded funds, and bonds.
The group recently announced a sparkling set of earnings for the third quarter of 2023 (3Q 2023).
Total revenue increased by 23.8% year on year to S$66.2 million while operating profit more than tripled year on year from S$3.1 million to S$11.2 million.
Net profit soared four-fold year on year to S$8.5 million.
The fintech declared an interim dividend of S$0.013, similar to a year ago, that will be paid on 17 November.
The group’s assets under administration (AUA) also reached a new all-time high of S$19.12 billion as of 30 September 2023.
For 2023, iFAST expects profitability to be substantially better than in 2022 while revenue and profitability next year are expected to show “robust growth” compared with 2023.
Investors should note that the group has started to see contributions from its Hong Kong ePension division in 3Q 2023, and is working with partners and parties to ensure that onboarding proceeds smoothly in 2Q 2024.
CEO Lim Chung Chun has remarked that with the projected increase in profits, there is room for an increase in dividends next year.
Grand Banks Yachts (SGX: G50)
Grand Banks Yachts is a manufacturer of luxury recreational motor yachts under the Grand Banks, Eastbay, and Palm Beach brands.
The group owns a manufacturing yard at Pasir Gudang, Johor, as well as service yards in Florida, USA and New South Wales, Australia.
Back in August, Grand Banks reported a net profit of S$10.1 million for its fiscal 2023 (FY2023) ending 30 June 2023 which was the highest in a decade.
Back then, the group also reported 19 new boat orders that brought its net order book to S$159.4 million.
The yacht manufacturer proposed a final dividend of S$0.01 that will be paid on 17 November.
Grand Banks’ momentum has carried over into the first quarter of fiscal 2024 (1Q FY2024).
In its latest business update, the group reported a 38.5% year on year jump in revenue to S$31 million.
Net profit more than doubled year on year to S$2.8 million.
Five new built-to-order boats were secured during 1Q FY2024, with the group’s net order book at S$148.8 million as of 30 September 2023.
Micro-Mechanics Holdings (SGX: 5DD)
Micro-Mechanics Holdings, or MMH, designs and manufactures high-precision tools and parts for the wafer fabrication and assembly processes of the semiconductor industry.
For FY2023, MMH saw revenue fall 18.7% year on year to S$67 million principally because of a slowdown in the semiconductor sector.
Net profit halved from S$19.8 million to S$9.8 million.
A final dividend of S$0.03 was declared and will be paid on 17 November.
This level of dividend was lower than the prior year’s final dividend of S$0.06 and the special dividend of S$0.02.
The situation has not improved in 1Q FY2024 with net profit sliding by 36.4% year on year to S$2.7 million on the back of a 21.5% year-on-year decline in revenue to S$15.9 million.
However, the business did generate a positive free cash flow of around S$2.9 million for the quarter.
Tiong Woon Corporation Holding Ltd (SGX: BQM)
Tiong Woon is an integrated heavy lift specialist supporting the oil and gas, petrochemical, infrastructure, and construction industries.
Its FY2023 results saw revenue rise 11% year on year to S$135.8 million.
Net profit climbed 38% year on year to S$15.7 million.
The group also generated a positive free cash flow of S$39.9 million, up 68.2% from a year ago.
In line with the good results, Tiong Woon has declared a total final and special dividend of S$0.01, double what was paid out in FY2022.
These dividends will be paid on 22 November.
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Disclosure: Royston Yang owns shares of iFAST Corporation and Micro-Mechanics.
