Investors are generally split into two camps – growth investors and income investors.
Typically, growth investors look for fast-growing companies to enjoy capital gains when their share prices rise.
Such growth companies usually pay either a small dividend, or none at all.
On the flip side, income investors make dividends their main focus and seek out stocks that dish out generous payouts.
But why not have the best of both worlds?
Here are five choice stocks that not only display steady growth but also paid out higher dividends.
CapitaLand Integrated Commercial Trust (SGX: C38U)
CapitaLand Integrated Commercial Trust, or CICT, is a retail and commercial REIT with a portfolio of 21 properties in Singapore, two in Frankfurt, and three in Australia.
The REIT’s assets under management (AUM) stood at S$24.5 billion as of 31 December 2023.
CICT has steadily grown its asset base in the last three years. Back in 2020, its AUM stood at just S$22.3 billion.
For the first half of 2024 (1H 2024), the REIT reported a resilient set of earnings despite the presence of elevated interest rates.
Gross revenue inched up 2.2% year on year to S$792 million while net property income rose 5.4% year on year to S$582.4 million.
CICT’s distribution per unit increased by 2.5% year on year to S$0.0543 for 1H 2024.
The REIT is engaged in several asset enhancement initiatives for both IMM Building in Singapore and The Gallileo in Frankfurt.
Once completed, these refurbished assets should bring in higher rental income for CICT.
Sembcorp Industries (SGX: U96)
Sembcorp Industries, or SCI, is an energy and urban solutions provider.
The blue-chip group has a balanced energy portfolio of 21.2 GW across 10 countries with urban development projects that span over 14,000 hectares.
Although revenue for 1H 2024 fell by 12% year on year to S$3.2 billion, the group’s net profit edged up 2% year on year to S$540 million.
SCI also declared an interim dividend of S$0.06, higher than the S$0.05 that was paid out a year ago.
The utility group continued to see its gross renewables capacity rise, going from 12.9 GW at the end of 2023 to 14.4 GW for 1H 2024.
Management’s target is to raise installed capacity to 25 GW by 2028.
Meanwhile, SCI also announced its new urban strategy targeting 18,000 hectares of land area by 2028, up from the current 14,000 hectares.
It will also focus on increasing the gross floor area of its industrial properties from around 130,000 square metres presently to 1.5 million square metres by 2028.
iFAST Corporation Limited (SGX: AIY)
iFAST is a financial technology company operating an online platform that allows customers to buy and sell unit trusts, equities, and bonds.
The group demonstrated stellar growth for 1H 2024 with net revenue soaring 90.2% year on year to S$119.5 million.
Operating profit leapt more than fourfold year on year from S$9.1 million to S$38.6 million.
Net profit came in at S$30.5 million, up 364% year on year.
The fintech declared a second interim dividend of S$0.015, a jump from the prior year’s dividend of S$0.011.
iFAST also saw its assets under administration surge to a new all-time high of S$22.37 billion.
The group believes that its Hong Kong ePension division will be an important growth driver for this year and the next.
iFAST also expects its digital bank division, iFAST Global Bank, to be another important growth driver for 2025.
Tiong Woon Corporation (SGX: BQM)
Tiong Woon is an integrated heavy lift specialist and service provider supporting the oil and gas, petrochemical, infrastructure, and construction sectors.
The group announced a good set of earnings for the fiscal 2024 (FY2024) ending 30 June 2024.
Revenue rose 5% year on year to S$143.1 million while gross profit increased 9% year on year to S$59 million.
Net profit increased 17% year on year to S$18.3 million.
Tiong Woon declared a final dividend of S$0.006 and a special dividend of S$0.009, taking total FY2024 dividend to S$0.015, higher than the S$0.01 it paid out a year ago.
Despite macroeconomic challenges, the group maintains an optimistic outlook as customer demand for heavy lift and haulage solutions is projected to remain resilient in Singapore.
Genting Singapore (SGX: G13)
Genting Singapore owns and operates Resorts World Sentosa (RWS), an integrated resort (IR) that boasts a casino, six hotels with around 1,600 hotel rooms, a Universal Studios Singapore theme park, a SEA aquarium, and a wide selection of dining, retail, and entertainment options.
The IR operator reported a stellar set of earnings for 1H 2024.
Revenue jumped 25% year on year to S$1.36 billion while operating profit rose 29% year on year to S$450.9 million.
Net profit also increased by 29% year on year to S$356.9 million.
In line with the strong results, Genting Singapore declared an interim dividend of S$0.02, higher than the S$0.015 that was paid out in the previous year.
RWS continues to refresh and rejuvenate its offerings and RWS 2.0, which is a major redevelopment of the IR, is proceeding well.
The first phase of the Illumination’s Minion Land and the Singapore Oceanarium remain on track for a soft opening in early 2025.
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Disclosure: Royston Yang owns shares of iFAST Corporation.
