2022 SG Dividend List

We are at a good time to look at the annual dividend list again and as market cycle goes, we are back in the doldrums and therefore see a lot more names just in our beloved little red dot. The criteria have to be added so that we can down to a manageable list.

For the first time in a long while, I used the PE cap to limit the number of names. I put a cap at 20x meaning that any stock trading at more than 20x will be cut out. Surprisingly, I still get so many names that we need have two lists below (ranked by market cap). This year, we see a lot of property names and new names which, to be honest, I have not studied and would not be able to comment.

At the top of the market cap range, we start with Thai Beverage at close to SGD18bn market cap. I have owned this name for a while and I believe this is perhaps one of the rare compounders we can find on SGX. The numbers speak for themselves, double digits margins and double digit ROEs. I would argue that at 16x price earnings, this name is not expensive. Top Glove of Malaysia is another superb company but the numbers do look strange with ROE over 100% and dividend over 20%. That said, we know its strengths and kudos to the managers who brought the company to such global success over time. Alas, both of these strong names are not home grown Singapore companies. 

The second part of the list goes down the market cap and again, there are many unfamiliar names. But one familiar one did stand out - Bukit Sembawang. This is a well-known property play currently trading below book but with ROA at 10% and ROE at 13.5%. It also offers a decent dividend yield of 6.5%. On surface, it definitely looks like a good bargain. Perhaps someone will take them out like what happened with SPH and SPH Reit.

Next up, let's see if we can find more interesting names in the other markets!

As usual, here's the past lists:

2021 Dividend List - HK!

2021 Dividend List

2020 Dividend List
2019 Dividend List
2018 Dividend List - Part 4
2018 Dividend List - Part 3
2018 Dividend List - Part 2
2018 Dividend List - Part 1
2017 Oct Dividend List - Part 2
2017 Oct Dividend List - Part 1

2017 Mar Dividend List

2016 Dividend List - Part 2

2016 Dividend List - Part 1

2015 Dividend List - Part 2

2015 Dividend List - Part 1

2014 Dividend List

2013 Dividend List - Part 2

2013 Dividend List - Part 1

2012 Dividend List

2011 Dividend List

2010 Dividend List

2009 Dividend List

Huat Ah!