The earnings season is here again, and it’s the first earnings season where companies report on the first quarter of 2025.
May is a good month for income investors as most companies have a 31 December year-end and pay out dividends after their annual general meetings in April.
If you are looking to boost your stream of dividend income, here are five Singapore stocks that are paying out dividends in May.
CapitaLand Investment Limited (SGX: 9CI)
CapitaLand Investment Limited, or CLI, is a global real estate manager with S$136 billion of assets under management and S$117 billion of funds under management as of 31 December 2024.
The real estate manager reported a mixed set of results for 2024.
Revenue inched up 1% year on year to S$2.8 billion while net profit shot up 165% year on year to S$479 million.
However, core net profit (excluding portfolio gains, unrealised revaluation gains/losses and impairments, fell by 10% year on year to S$510 million.
CLI declared a final dividend of S$0.12 and a special dividend-in-specie of 0.031 units of CapitaLand Integrated Commercial Trust (SGX: C38U) per share.
This cash dividend will be paid on 13 May.
CLI’s FUM grew nearly 20% year on year for 2024, and the blue-chip group divested S$5.5 billion worth of assets last year.
Core net profit is shifting towards a recurring fee-driven earnings model while private funds add upside potential through carried interest.
New funds, along with mergers and acquisitions, provide growing scale for CLI’s platform.
Credit Bureau Asia (SGX: TCU)
Credit Bureau Asia, or CBA, provides risk and credit information solutions to an extensive client base that includes banks, multinational corporations, government bodies, and telecommunication companies.
CBA reported a commendable set of earnings for 2024.
Revenue climbed 10.2% year on year to S$59.7 million while net profit increased by 14.2% year on year to S$11.2 million.
The group also generated a positive free cash flow of S$28.6 million last year, up 15.1% from the previous year.
The risk solutions provider declared a final dividend of S$0.02, unchanged from a year ago.
This dividend will be paid on 30 May.
Together with the interim dividend of S$0.02, CBA paid out a total of S$0.04 for 2024, up from S$0.037 in the prior year.
The group renewed its collaboration with Dun & Bradstreet for another five years with effect from 1 January 2024.
Meanwhile, management is also exploring acquiring more businesses in the region to expand its footprint.
Food Empire (SGX: F03)
Food Empire is a food and beverage (F&B) manufacturing and distribution company with a portfolio of snack foods, instant beverages, and food ingredients.
The group operates nine manufacturing facilities in six countries and has 23 offices worldwide.
For 2024, the group also reported a mixed result.
Total revenue rose 11.9% year on year to US$476.3 million but normalised net profit fell by 11.4% year on year to US$50 million.
The F&B business eked out a small positive free cash flow of US$1.1 million for the year.
A final dividend of S$0.06 and special dividend of S$0.02 were declared, taking the total dividend for 2024 to S$0.08.
This dividend was lower than the previous year’s S$0.10, and will be paid out on 14 May.
Management sees stronger growth from Asia and is readying commercial and strategic initiatives to tap into this growth.
Food Empire’s regional expansions strategy consists of investments in new production facilities in Asia.
A new coffee-mix production facility in Kazakhstan will be ready by the end of 2025.
Ho Bee Land (SGX: H13)
Ho Bee Land, or HBL, has property investments and developments in Singapore, Australia, China, the UK, and Germany.
The group develops luxury homes in Singapore and also has a portfolio of eight investment properties in London.
The property group reported a sturdy set of results for 2024 as revenue gained 19% year on year to S$528 million.
Net profit came in at S$109.6 million, a sharp turnaround from the net loss of S$259.8 million a year ago.
The group generated a positive free cash flow of S$254.2 million last year.
A first and final dividend of S$0.04 was declared, 33% higher than the S$0.03 paid out in the previous year.
This dividend will be paid on 23 May.
Olam Group (SGX: VC2)
Olam Group is a leading food and agri-business that supplies food, feed, and ingredients to 22,000 customers worldwide.
The commodity group’s value chain spans over 60 countries and includes farming, processing, and distribution.
Olam reported a mixed set of results for 2024 as sales increased 16.3% year on year to S$56.2 million.
Higher finance costs and share of losses from joint ventures and associates ate into its profit, causing net profit to plunge 69% year on year to S$86.4 million.
The commodity group declared a final dividend of S$0.03, 25% lower than the S$0.04 paid out last year.
This dividend will be paid on 14 May.
The total dividend for 2024 stood at S$0.06, lower than the S$0.07 paid for 2023.
Olam expects to see continued uncertainty this year, triggered by geopolitical tensions along with the Ukraine-Russia and Middle Eastern conflicts.
Trump’s recent tariff announcement could also dampen consumer demand, which will act as a headwind for Olam Group.
Headlines screaming uncertainty got you frozen? You’re not alone. But while others panic, savvy investors are seizing the moment. Our dynamic webinar, “How to Invest US$20,000 Amid the Great Uncertainty,” cuts through the fear and delivers bold, actionable strategies you can implement now. Discover where stability and growth potential are hiding in plain sight. This isn’t about waiting; it’s about winning. Click here to reserve your spot!
Explore Singapore’s top “evergreen” stocks with our FREE report. It spotlights 7 Singapore blue-chip stocks with solid dividends and growth potential. Click here to download it now to create a flow of dividend income, regardless of market conditions.
Follow us on Facebook and Telegram for the latest investing news and analyses!
Disclosure: Royston Yang does not own shares in any of the companies mentioned.
