For investors, the receipt of dividends can feel like receiving a red packet from their invested company.
Unlike red packets though, while a bigger dividend is nice, the reliability of it is all the more important–especially during market downturns.
We highlight four types of dividend-paying Singapore stocks and examine why their payouts are reliable.
What Makes a Dividend “Reliable”
A consistent dividend payer is usually a company that consistently generates cash and has a low payout ratio.
Combine these with a conservative balance sheet, and the company is well-positioned to support its dividends across market cycles.
Dividend sustainability is key here, not just a big headline yield.
Singapore Exchange Limited (SGX: S68) — Market Infrastructure Anchor
Being the only approved financial exchange in Singapore, Singapore Exchange, or SGX, owns a monopolistic position in Singapore’s financial markets.
This regulated ability to levy a “toll” on financial market activities in Singapore has seen the exchange grow revenue and cash flows steadily over the years.
Similarly, the bourse operator has paid a steadily growing dividend annually over the past 20 years. For the six months ending 31 December 2025 (1HFY2026), SGX has an annualised payout ratio of 65.1%. The company’s leverage, defined as gross debt over EBITDA, is also low at 0.8.
SGX is a market infrastructure company that could be a wonderful anchor for income portfolios.
Keppel DC REIT (SGX: AJBU) – A REIT With Predictable Cash Flow
You can’t really have a reliable income portfolio without having at least a REIT, given the regular payouts they provide.
Introducing Keppel DC REIT, a pure-play data centre REIT in Singapore.
Its occupancy has consistently been high, most recently coming in at 95.8% at the end of 2025.
Keppel DC REIT has various lease structures for its assets, including triple-net leases. Also, around half of its portfolio have rent payments with annual rental escalations.
mpressively, the data centre operator has a conservative balance sheet, with an aggregate leverage ratio of 35.3% as of 31 December 2025.
Like other names in this article, Keppel DC REIT has a long history of paying a dividend – it has paid an annual dividend stretching back to 2015.
ST Engineering Limited (SGX: S63) — Blue-Chip with Dividend Growth
ST Engineering, or STE, has been able to grow its revenue and earnings over time at a steady clip through its key operating segments of commercial aerospace (CA), Defence & Public Security (DPS).
For example, STE’s net income has gradually increased from S$484.5 million in 2016 to S$768.6 million as of the 12 months ended 30 June 2025.
STE’s dividend payout ratio has been high, averaging at 85% over the past five years. The leverage on the balance sheet is also high, with a debt-to-equity ratio of 2.0. But its consistent dividend payments are likely to persist, perhaps even grow, in the foreseeable future as earnings pick up.
Valuetronics Holdings Limited (SGX: BN2) — Cash-Rich Balance Sheet
Finally, we highlight a technology company that stands out with its net cash position.
As of 30 September 2025, Valuetronics has zero debt and a cash position amounting to HKD$1,106 million (S$177 million). Even more noteworthy is that this figure represents around half of its market cap!
Valuetronics’ net cash position provides flexibility for management; they can elect to buy back shares, pay dividends, or reinvest in their business. And that’s what management has been doing. Their capital allocation policy is to distribute 30%-50% of earnings as dividends. Remaining cash is allocated to grow the business and conduct opportunistic share buybacks.
Valuetronics’ robust cash position allows the continuation of dividend payments even during market downturns.
What Dividend Investors Should Watch
Although we highlight these four names to consider for stable dividend payments, we caution that investors still have to watch for some factors.
These factors include changes to their announced dividend policies and fluctuating economic cycles.
Get Smart: Let Consistency Deliver the Ang Pows
In all, we believe that to receive consistent Ang Pow dividends, one has to invest in businesses that can produce cash day in, day out, regardless of market conditions.
As long as you own businesses that can produce cash reliably, the Ang Pow dividends will come by themselves.
Many Singapore stocks fall behind inflation, which means your money quietly loses strength over time. Dividend stocks have a very different track record. Some continued delivering 6% to 13% every year across the toughest market conditions.
In this FREE report, discover 5 crisis-tested dividend stocks that kept rewarding investors while the market struggled. Download your dividend investing guide now.
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Disclosure: Wilson.H does not own shares in any of the companies mentioned.
