A quick scan of the SGX turns up yields that appear far more attractive than Central Provident Fund (CPF) savings or Treasury bills (T-bills).
But a high yield can mean two things.
With strong fundamentals, it can be an income opportunity backed by sustainable cash generation and room for dividend growth.
With weakening fundamentals, it can be a value trap, with dividend cut risk and further share-price downside.
A falling share price can inflate yields even as earnings and cash flow deteriorate.
For income investors, the task is separating genuine opportunities from dividend traps.
We screen five high-yielding stocks to see what supports their payouts and what puts them at risk.
| Company / REIT | Ticker | Share Price* | Dividend / DPU | Dividend / Distribution Yield |
|---|---|---|---|---|
| Keppel Infrastructure Trust | SGX: A7RU | S$0.49 | S$0.0396 (TTM) | 8.1% |
| Genting Singapore | SGX: G13 | S$0.61 | S$0.04 (annual) | 6.6% |
| Asian Pay Television Trust | SGX: S7OU | S$0.07 | S$0.0080 (FY2026 guidance) | 11.4% (forward) |
| Sasseur REIT | SGX: CRPU | S$0.63 | S$0.03366 (1H2026) | 10.2% (trailing) |
| Singapore Airlines | SGX: C6L | S$6.95 | S$0.37 (FY2025/2026) | 5.3% |
*Note: Share prices as at 6 Nov 2026.
Keppel Infrastructure Trust (SGX: A7RU), or KIT
KIT owns essential infrastructure, from wind farms to gas pipelines, and its payouts are supported by long-term contracts with cost pass-through.
Its trailing 12-month distribution per unit (DPU) is S$0.0396, which has grown about 1% a year, giving a yield of 8.1% at a unit price of S$0.49 as at 6 November 2026.
Interest cover is 8.3 times, about 79% of debt is fixed and FY2026 refinancing is secured.
Future growth is expected from a subsea cable vessel due to enter service around end-2026, bolt-on acquisitions at Ixom and Ventura, and about S$700 million of debt capacity for acquisitions.
KIT’s distributions are backed by recurring cash flows, but net gearing rose to 44.2% from 38.7% at the end of 2025, so further debt-funded deals need watching.
Genting Singapore Limited (SGX: G13)
Genting Singapore operates Resorts World Sentosa (RWS), an integrated resort with casino gaming.
Its annual dividend of S$0.04 gives a yield of about 6.6% at a share price of S$0.61 as at 6 November 2026.
The balance sheet is strong, with S$2.9 billion in cash and no bank borrowings.
However, 1H2026 free cash flow was only S$21.1 million against the S$241.8 million FY2025 final dividend paid in the same half.
Capex is high because of RWS 2.0, which is scheduled for completion in 2030.
Moderating tourism arrivals, measured consumer spending and RWS 2.0 redevelopment weigh on profit and cash flow now, with longer stays and more non-gaming spending as the intended payoff.
While the dividend yield looks attractive and the cash pile is solid, the business environment and RWS 2.0 are worth watching.
Asian Pay Television Trust (SGX: S7OU), or APTT
APTT owns Taiwan Broadband Communications, a cable operator across five Taiwan franchise areas where about 90% of its revenue is subscription-based.
Its FY2026 distribution guidance of S$0.0080 per unit is 24% below FY2025’s S$0.0105.
At a unit price of S$0.07 as at 6 November 2026, that is a forward yield of 11.4%.
Both revenue and EBITDA have been falling as cheaper IPTV and streaming pull subscribers from basic cable TV faster than the broadband income can grow.
Net debt was 7.6 times EBITDA as at 31 March 2026, and about 25% of debt is unhedged.
As at 30 June 2026, cash was S$48.7 million against S$1.07 billion of gross debt.
Operating cash flow of S$63.4 million covers the S$9.5 million paid to unitholders more than six times.
If EBITDA keeps falling, debt repayment competes with the distribution, and the high yield suggests the market expects DPU to fall.
Sasseur Real Estate Investment Trust (SGX: CRPU)
Sasseur REIT owns four outlet malls in Chongqing, Hefei and Kunming.
At a unit price of S$0.63 as at 6 November 2026, it trades at 0.77 times its net asset value of S$0.82, for a trailing distribution yield of 10.2%.
DPU rose 10.2% to S$0.03366 in 1H2026.
Rent has a fixed component that rises 3% a year and a variable part tied to outlet sales, which grew 7.4% in 1H2026 but only 2.1% in the second quarter.
Occupancy slipped to 97.2% in 2Q2026 from 98.5% in 1Q2026 as the Hefei outlet reconfigured its tenants.
No tenant is above 5% of gross revenue, but leases are short, with 56.7% of gross revenue expiring in 2026.
Gearing is 25.6%, interest cover is 5.6 times and all loans are in renminbi, matching its renminbi income.
The yield is largely protected by low debt, and the risks to watch are short leases and slowing sales.
Singapore Airlines Limited (SGX: C6L), or SIA
SIA is Singapore’s flagship carrier, and FY2025/2026 was a strong year.
Operating profit rose 39% to S$2.4 billion on higher yields and lower fuel costs.
Its FY2025/2026 dividend was S$0.37, down from S$0.40, made up of S$0.27 in ordinary and S$0.10 in special dividends.
At S$6.95 as at 6 November 2026, the yield is 5.3%.
Excluding the special dividend, the yield is 3.9%, a better guide to what SIA can sustain.
Free cash flow of about S$2.5 billion covered the roughly S$1.2 billion payout twice over.
Jet fuel prices then surged on the Middle East conflict.
In 1QFY2026/2027, net fuel cost rose 78.5%, leading to a S$76 million net loss.
Cash of S$9.1 billion covers the gap for now, though debt edged up to S$10.7 billion.
In this case, a dividend funded by peak-cycle profits can look safer than it really is.
Get Smart: Don’t Let the Yield Fool You
High yields can be attractive, but an investor needs to judge each payout by the quality of its earnings, cash flows, balance sheet and future prospects.
KIT and Sasseur REIT have contracted or growing income supporting their payouts, though gearing and short leases need watching.
Genting Singapore paid out far more than its free cash flow, while APTT has already cut its distribution, and SIA’s payout depends on fuel prices.
Some yields are high because the market expects a cut, as APTT’s guidance shows.
Hence, a yield only matters if the company can continue to sustain or grow its dividends.
Retirement doesn’t happen overnight. It’s built one decision at a time.
We found 6 SGX companies that have paid dividends every year for more than 20 years, through the Global Financial Crisis, COVID-19, and rising interest rates.
If you’re building long-term income for retirement, this free report is a great place to start. Download your copy today.
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Disclosure: SweeS. T. does not own share in any of the companies mentioned.
