The CPF Ordinary Account offers a guaranteed 2.5% a year.
It is a floor worth respecting.
It is also a floor worth beating, if you can do so without taking on undue risk.
Three Singapore-listed companies clear that bar today.
Each pays a dividend yield above 2.5%.
Each carries no debt.
And each sits on a pile of cash that funds its payout from strength rather than borrowing.
These three names show why free cash flow matters.
HRnetGroup (SGX: CHZ)
Let’s start with the highest yield of the trio: HRnetGroup, a recruitment and staffing firm operating across Asian cities.
At S$0.74, HRnet shares offer a 5.7% dividend yield.
For the full year ended 31 December 2025, revenue rose 3.0% year on year (YoY) to S$584.0 million, and profit attributable to owners climbed 15.0% to S$51.2 million.
The dividend followed the direction of its profit.
HRnet declared a total dividend of S$0.042 for FY2025, up 5.0% from S$0.040 a year ago.
This payout rests on real cash.
The group generated free cash flow of S$52.0 million during the year, up 5.3%.
It held S$262.9 million in cash and zero debt as at 31 December 2025.
That cash position alone dwarfs the annual dividend bill several times over.
Management is steering Professional Recruitment towards higher-value executive search while building recurring revenue through Octomate, its workforce-management platform.
VICOM (SGX: WJP)
Next comes the strongest quarter of the three.
At S$1.80, VICOM shares provide a 4.7% dividend yield.
This testing and inspection services provider, a subsidiary of ComfortDelGro Corporation (SGX: C52), delivered a sharp first quarter for 2026 (1Q2026).
Revenue rose 11.5% YoY to S$37.2 million, while net profit attributable to owners jumped 33.6% to S$10.0 million.
The profit growth outpaced revenue for a reason.
Operating margin expanded to 32.4% from 27.0% a year ago, showing the operating leverage in the business.
VICOM carried S$59.9 million in cash and no debt as at 31 March 2026.
Free cash flow came in at S$2.2 million for the quarter, down from S$4.5 million a year ago.
The dip traces to S$11.6 million in capital expenditure on the Jalan Papan integrated testing centre, an investment in future capacity rather than a sign of strain.
One point for dividend investors to note is that VICOM declared no dividend for the first quarter, in keeping with its practice of paying at the half-year and full-year marks.
Credit Bureau Asia (SGX: TCU)
The last name still clears the CPF hurdle.
At S$1.13, CBA shares sport a 3.7% dividend yield.
Credit Bureau Asia (CBA) supplies credit and risk information to banks, financial institutions, and government bodies across Southeast Asia.
Its FY2025 was steadier than spectacular.
Revenue edged up 0.7% YoY to S$60.1 million.
However, profit attributable to owners fell 4.4% to S$10.7 million, weighed by lower interest income, a softer contribution from its Cambodia joint venture, and higher staff costs.
Nonetheless, the dividend held firm through the softer year.
CBA declared a FY2025 total of S$0.042 per share, up from S$0.040 a year ago.
The balance sheet explains the confidence: the group carries no debt.
As at 31 December 2025, cash and bank balances stood at S$46.5 million, with a further S$24.7 million in treasury bills and money market funds, bringing total liquid assets to S$71.1 million.
Free cash flow of S$27.2 million, though down 4.9%, covered the payout with room to spare.
Get Smart: The balance sheet does the heavy lifting
Three companies.
Three yields above the CPF Ordinary Account’s 2.5%.
Not one of them borrows to pay you.
That last point carries weight.
A dividend funded by cash and free cash flow can survive a lean year.
HRnet raised its payout through a strong one, while CBA held its payout through a soft one.
Both leaned on the same thing: money in the bank and no lender to answer to.
A yield above 2.5% is easy to find.
A yield above 2.5% backed by net cash and real cash flow is worth holding.
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Disclosure: Calvina L. does not own shares of any companies mentioned. Chin Hui Leong contributed to the article and owns shares of HRnetGroup, VICOM, and CBA.
