Top SGX Dividend Stocks To Consider In October 2024

As we approach the final quarter of 2024, investors are seeking stable and reliable dividend stocks to add to their portfolios. Singapore's stock exchange, SGX, is home to several promising companies that have demonstrated strong financial performance and dividend growth. This article highlights the top SGX dividend stocks to consider in October 2024, based on their recent performance and strategic initiatives.


1. DBS Group Holdings (SGX:D05)
DBS Group Holdings, the largest bank in Singapore and Southeast Asia, has consistently delivered impressive financial results. In 2023, DBS reported a record high net profit of S$10.3 billion and declared a dividend of S$0.54 per share. Despite facing challenges such as ATM service disruptions, analysts remain optimistic about the bank's long-term prospects. DBS' commitment to rewarding investors through regular and growing dividend payments makes it an attractive choice for dividend-seeking investors.

2. United Overseas Bank Ltd (SGX:U11)
United Overseas Bank (UOB) has positioned itself as a significant player in the banking sector, particularly after acquiring Citigroup's consumer business in several Southeast Asian countries. In 2023, UOB reported a net profit of S$6.1 billion and declared an interim dividend of S$0.85 per share, reflecting a notable increase from the previous year. UOB's strategic acquisitions and expansion plans have contributed to its strong financial performance and dividend growth.

3. Oversea-Chinese Banking Corporation (SGX:O39)
Oversea-Chinese Banking Corporation (OCBC) has embarked on a rebranding journey and implemented various initiatives to drive revenue growth. In 2023, OCBC reported a robust 27% surge in profits, reaching S$7.02 billion, and declared a dividend of S$0.82 per share. OCBC's strategic focus on generating incremental revenue and investing in staff development has contributed to its impressive financial performance and dividend growth.

4. Singapore Telecommunications (SGX:Z74)
Singapore Telecommunications (Singtel) has maintained a stable dividend policy despite facing challenges in its core business. In 2023, Singtel reported an 82.6% increase in H1 profit and declared a final dividend of S$0.052 per share. Singtel's diverse investment portfolio across the region and its plans to grow its core business make it an attractive dividend stock to consider.

5. ST Engineering (SGX:S63)
ST Engineering is a homegrown company with a strong track record in the defense and engineering sectors. In 2023, ST Engineering reported a net profit of S$1.1 billion and declared a dividend of S$0.12 per share. The company's strategic focus on innovation and expansion in its core businesses has contributed to its strong financial performance and dividend growth.


In conclusion, the top SGX dividend stocks to consider in October 2024 are DBS Group Holdings, United Overseas Bank Ltd, Oversea-Chinese Banking Corporation, Singapore Telecommunications, and ST Engineering. These companies have demonstrated strong financial performance, strategic initiatives, and dividend growth, making them attractive choices for investors seeking stable and reliable dividend stocks. As always, it is essential to conduct thorough research and consult with a financial advisor before making any investment decisions.