Income investors are always on the lookout for solid dividend stocks to purchase.
The recent earnings season has thrown up several interesting companies that not only increased their dividends but also reported healthy business prospects.
Dividends are an effective source of passive income that you can rely on to supplement your earned income or to sustain your lifestyle once you retire.
We shine the spotlight on five Singapore companies that increased their dividends during the recent earnings season.
ComfortDelGro Corporation (SGX: C52)
ComfortDelGro Corporation, or CDG, is a multi-modal transport operator with a comprehensive suite of transportation solutions.
The group’s extensive network comprises public transport solutions such as buses and rail, along with point-to-point taxis and private hire cars.
CDG reported an encouraging set of earnings for 1H 2025 with revenue rising 14.4% year on year to S$2.4 billion, with contributions from newly-acquired A2B and Addison Lee.
Operating profit grew 22.8% year on year to S$172.5 million, partially boosted by a S$7 million net gain on disposal.
Net profit improved by 11.2% year on year to S$106 million.
Capital expenditure, however, was elevated because of the purchase of a fleet of 452 Metroline buses and 174 EV buses in London, resulting in negative free cash flow for 1H 2025.
In line with the good results, CDG upped its interim dividend by 11.1% year on year to S$0.0391.
Management expects the London public bus contracts to be renewed at better margins.
The Stockholm E40 metro contract should also start contributing to group revenue from November 2025.
However, its B2C taxi and private hire segment will remain under pressure from intense competition from ride-hailing companies such as Grab (NASDAQ: GRAB).
HRNetGroup (SGX: CHZ)
HRNetGroup is a leading recruitment and staffing firm with over 900 consultants spread across 18 Asian cities.
The group operates 20 brands such as HRnetOne, Recruit Express, and PeopleFirst, among others.
For 1H 2025, revenue inched up 3.4% year on year to S$295.5 million, but gross profit dipped by 2.8% year on year to S$61.2 million.
Flexible Staffing revenue increased by 4.1% year on year to S$265.8 million and was offset by a 3.3% year-on-year decline in revenue from Professional Recruitment to S$27.7 million.
Gross margin was dragged down by higher contributions from lower-margin international markets.
However, net profit climbed 29.2% year on year to S$28 million, boosted by higher “other income” of S$15.8 million versus S$6.5 million.
HRNetGroup’s interim dividend went from S$0.0187 last year to S$0.02 for 1H 2025.
The outlook remains uncertain with Trump’s tariffs likely to negatively impact hiring in the group’s key markets.
HRNetGroup will strengthen its focus on the higher-value segment, particularly in strategic and senior-level roles.
PropNex (SGX: OYY)
PropNex is Singapore’s largest real estate agency with more than 13,000 salespersons.
The group offers services such as real estate brokerage, training, and consultancy.
For 1H 2024, the group delivered a stellar performance with revenue surging 73.3% year on year to S$598.9 million.
Net profit more than doubled year on year from S$19 million to S$42.3 million.
Revenue shot up because of commission income from project marketing services, along with higher agency service income.
PropNex declared a record interim dividend of S$0.05, more than double the S$0.0225 that was paid out last year.
Looking ahead, management is optimistic about private home sales and expects a gradual recovery in market sentiment and buying appetite.
Recent government land sales tenders also saw increased participation as a “risk-on” attitude seems to reflect increased confidence in the property market.
Bumitama Agri (SGX: P8Z)
Bumitama Agri manages around 190,000 hectares of oil palm plantation in Indonesia.
The group also operates 17 mills with a total processing capacity of 6.99 million metric tonnes annually.
The agri company reported a sparkling set of earnings for 1H 2025.
Revenue climbed 28.2% year on year to IDR 9.7 trillion while gross profit leapt 43% year on year to IDR 2.6 trillion.
Net profit increased by nearly 48% year on year to IDR 1.27 trillion.
Bumitama Agri more than tripled its interim dividend from S$0.012 to S$0.0363.
Production of oil palm picked up in the second quarter of 2025, resulting in a larger year-on-year jump for 1H 2025.
The group also managed to sell its crude palm oil (CPO) at prices which were 22% higher year on year.
Palm oil has demonstrated resilience and is supported by strong fundamentals as the commodity regains market share from other oil substitutes.
VICOM (SGX: WJP)
VICOM is a leading provider of test and inspection services.
Aside from providing vehicle inspection, VICOM also provides a comprehensive range of inspection and testing services in fields such as mechanical, biochemical, and civil engineering.
The group reported a commendable set of earnings for 1H 2025 with revenue rising 24.1% year on year to S$69.8 million.
Operating profit improved by 12.3% year on year to S$18.9 million, while net profit climbed 10.2% year on year to S$15.6 million.
An interim dividend of S$0.031 was declared, higher than the previous year’s S$0.028.
VICOM expects satisfactory performance for 2H 2025, with demand for vehicle testing expected to be strong.
Non-vehicle testing demand should remain stable, although the knock-on effects from Trump’s tariffs are still uncertain.
The world’s gotten unpredictable, but some Singapore companies have quietly kept thriving. You’ve probably seen them in your daily life. And yes, they’ve kept paying dividends through it all. Meet 5 resilient stocks built to navigate global storms. Get the free report here and see how they’ve done it.
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Disclosure: Royston Yang owns shares of VICOM.
