Three SGX dividend stocks for your 2023 portfolio
SGX listed companies Golden Agri-Resources (SG:E5H), Capital Land Integrated Commercial Trust (SG:C38U), andOCBC (SG:O39) have higher dividend yields than their respective industry averages. This makes them a popular choice among investors looking for good dividend payments from their portfolios.
Picking the right dividend stocks is easy with a variety of tools from TipRanks. Tools like top dividend stocks, dividend calculators, dividend calendars and more serve as the perfect guide for investors to choose the right stock.
Let’s look at these companies in detail.
Golden Agricultural Resources (GAR)
GAR is one of the world’s leading palm oil companies and operates in 12 countries. The company has a brand portfolio of 30 products.
Last month, the company announced its full-year results for 2022, with revenue growing 12% to $11.4 billion. The company reported record 53% growth in its underlying earnings of $922 million, up from $603 million in 2021.
The Company announced a final dividend of S$0.0099, bringing the total dividend for 2022 to S$0.0179. This year’s dividend was the company’s highest yet, and was up 12% year over year.
Going forward, the company is well positioned to benefit from the increasing global demand for palm oil. This will help the company maintain and increase its profitability and dividend payments.
Price target for Golden Agri Resources stock
According to TipRanks rating consensus, E5H has a Moderate Buy rating.
The average price target is S$0.31, which is 9% above the current price level.
Oversea-Chinese Banking Corporation Limited (OCBC Bank)
OCBC is one of Singapore’s oldest banks, offering banking, wealth management, insurance and treasury services in 19 countries.
The bank’s full-year results for 2022 showed growth from its diversified portfolio and increased cost efficiencies in a changing environment. OCBC net income increased 18% to S$5.75 billion versus S$4.86 billion S$ in 2021. Net interest income rose 31% over the year to S$7.6 billion on the back of government rate hikes. However, noninterest income declined 16% to S$4 billion.
During its earnings, management announced a final dividend of S$0.4 per share, which is 43% higher than last year. The total dividend for 2022 is S$0.68 per share, up significantly from S$0.15 in 2021.
Is OCBC a buy it now?
OCBC stock has a strong buy rating on TipRanks based on seven buy and one-hold recommendations.
The average target price of S$14.70 suggests an 18.8% increase from the current price.
CapitaLand Integrated Commercial Trust (CICT)
CICT is a real estate management trust in Singapore that invests in office space and commercial real estate.
The company’s performance in 2022 was driven by acquisitions and operational efficiencies. In 2022, the company’s revenue grew 10.5% and net property income grew 9.7% year over year. The company is bullish on 2023 figures as the post-pandemic real estate market recovery will continue to boost its rental income.
As for its dividends, the company has a yield of 4%, compared to the industry average of 2.1%.
CICT has CapitaLand Investment Limited (SG:9CI) as a strong sponsor that gives its investors security for future dividends.
CapitaLand Integrated REIT stock price target
C38U has a strong buy rating on TipRanks based on all six buy recommendations.
The average price target is S$2.23, which is almost 20% above the current trading price.
Regular income in the form of dividends is really important for investors who are losing hope in the current trading environment. These three SGX stocks are good options for adding stability to investors’ portfolios.
All three stocks, E5H, C38U, and O39, reported strong numbers in their 2022 full-year results, confirming their consistent dividend payments.