Income investors thrive on receiving dividends that act as a useful source of passive income.
The good news is that the Singapore stock market has many companies that dish out consistent dividends.
These dividends have the added benefit of being tax-free.
Here are five Singapore stocks that are paying out dividends in November.
GuocoLand Limited (SGX: F17)
GuocoLand is a real estate group that develops, invests, and manages a portfolio of quality commercial and mixed-use assets that provide stable rental income.
The group’s investment properties were valued at S$6.5 billion as of 30 June 2024 and are located in Singapore, China, and Malaysia.
GuocoLand reported a mixed set of earnings for its fiscal 2024 (FY2024) ending 30 June 2024.
Revenue rose 18% year on year to S$1.8 billion while operating profit increased by 13% year on year to S$320 million.
Net profit, however, tumbled 38% year on year to S$129 million because of higher financing costs, lower fair value gain on investment properties, and the weaker environment in China.
A final dividend of S$0.06 was declared which will be paid out on 19 November.
GuocoLand continued making progress on Guoco Midtown II which is expected to complete in the first half of fiscal 2025 (1H FY2025).
When this mixed-use property is completed, it will add to the group’s stream of recurring rental income.
Meanwhile, GuocoLand’s Lentor Modern retail mall is slated to open in 2026 and is already 41% leased as of 30 June 2024.
At its upcoming Thomson Road development, GuocoLand will spearhead a new residential development which will incorporate a biodiversity-sensitive design approach.
It will also mark the property company’s second Green Mark Platinum residential project.
Micro-Mechanics (Holdings) (SGX: 5DD)
Micro-Mechanics (Holdings), or MMH, designs and manufactures high precision parts and tools for the wafer fabrication and assembly processes of the semiconductor industry.
The group reported a downbeat set of earnings for FY2024 as the global semiconductor industry worked through excess inventory.
Revenue fell by 13.6% year on year to S$57.9 million while operating profit slid 13.9% year on year to S$11.9 million.
Net profit came in 17.7% lower than the prior fiscal year at S$8 million.
Despite the dip in net profit, MMH managed to generate a positive free cash flow of S$12.1 million.
A final dividend of S$0.03 was declared and will be paid out on 18 November.
MMH is working on several key initiatives to prepare itself for the upturn.
It plans to achieve profitability for its US subsidiary after streamlining its cost structure.
Also, since the beginning of FY2025, the division has seen a rebound in orders.
MMH is also working on its “Five-Star Factory” initiative to accelerate excellence and improve efficiency across its manufacturing plants
Suntec REIT (SGX: T82U)
Suntec REIT is a retail cum commercial REIT that holds stakes in Suntec City as well as interests in One Raffles Quay, Marina Bay Financial Centre, and Suntec Singapore Convention Centre.
The REIT also owns interests in commercial properties in Australia and the UK.
Suntec REIT announced a downbeat set of earnings for the third quarter of 2024 (3Q 2024).
Gross revenue slipped 4.6% year on year to S$117.7 million while net property income fell by 5.7% year on year to S$79.8 million.
The REIT’s distribution per unit (DPU) tumbled 11.9% year on year to S$0.0158.
This DPU will be paid on 28 November 2024.
The REIT maintained a high committed portfolio occupancy of 95.6% for its office portfolio and 97.7% for its retail portfolio.
Suntec REIT also completed asset enhancement initiatives when it refurbished office lobbies at One Raffles Quay North and South Tower lobbies.
Spindex Industries Ltd (SGX: 564)
Spindex Industries is a precision engineering manufacturer with competencies in turning, machining, grinding, surface treatments, and mechanical sub-assemblies.
The group has its headquarters in Singapore and owns four production facilities in China, Malaysia, and Vietnam.
Spindex reported a mixed set of earnings for FY2024 with revenue dipping by 1.7% year on year to S$180.3 million.
Operating profit, however, shot up 34.9% year on year to S$20.5 million while net profit surged 43.8% year on year to S$15.6 million.
The manufacturer managed to generate a positive free cash flow of S$13.9 million for FY2024.
A final dividend of S$0.027 was declared, more than five times higher than the prior year’s S$0.005.
This dividend will be paid out on 18 November.
The group believes it has a strong financial position and will invest to maximise production efficiency while capitalising on opportunities for business expansion.
Tai Sin Electric (SGX: 500)
Tai Sin Electric develops and markets a comprehensive range of high-quality electric cables through a distribution network serving many industries.
The group also provides electrical cabling and wiring solutions for industrial, commercial, residential, and infrastructure projects.
Tai Sin reported a downbeat set of earnings for FY2024 with revenue falling 5% year on year to S$400.7 million.
Gross profit inched just slightly lower year on year at S$66.4 million, down from S$66.7 million.
Net profit fell by 12.3% year on year to S$14.7 million as other operating expenses shot up.
A final dividend of S$0.016 was declared, same as the year before.
This dividend will be paid on 13 November.
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Disclosure: Royston Yang owns shares of Suntec REIT and Micro-Mechanics.
