OCBC Investment Research
9 June 2025
Top Singapore Dividend Stocks and REITs 2025: The Ultimate Guide for Yield Investors
Singapore’s stock market continues to present attractive opportunities for income-focused investors, with numerous companies and REITs offering dividend yields above 6%. In this comprehensive 2025 guide, we delve into the highest-yielding stocks and REITs, analyze key financial metrics, and provide a detailed overview of the market to help investors make informed decisions.
Why Dividend Yield Matters for Singapore Investors
Dividend yield indicates the annual return investors receive from holding a stock, calculated as the annual dividends per share divided by the share price. With the Straits Times Index as a benchmark, Singapore’s market offers a multitude of stocks and REITs with yields that can significantly outperform traditional fixed-income instruments.
Singapore Stocks with Dividend Yields Above 6%
Below is a full list of Singapore-listed companies and trusts with forecasted dividend yields greater than 6%, based on Bloomberg consensus for the next financial year. The companies are analyzed both alphabetically and by yield, offering investors a granular view of their options.
| Code | Company | Price (6 Jun 25) | Market Cap (US\$m) | P/E Ratio (F1) | Dividend Yield (Hist) | Dividend Yield (F1) | Dividend Yield (F2) | Eqy Beta |
|---|---|---|---|---|---|---|---|---|
| AAREIT SP | AIMS AMP Capital Indus REIT | SGD 1.310 | 831 | 7.7 | 0.7% | 7.7% | 7.3% | 0.7 |
| APAC SP | APAC Realty Ltd | SGD 0.460 | 127 | 6.5 | 0.7% | 4.6% | 6.5% | 0.7 |
| BRC SP | BRC Asia | SGD 3.130 | 663 | 6.2 | 0.7% | 4.5% | 6.2% | 0.7 |
| BAL SP | Bumitama Agri Ltd | SGD 0.750 | 1,038 | 7.5 | 0.5% | 8.6% | 7.5% | 0.5 |
| CLAS SP | CapitaLand Ascott Trust | SGD 0.870 | 2,582 | 6.9 | 0.7% | 4.0% | 6.9% | 0.7 |
| CLCT SP | CapitaLand China Trust | SGD 0.685 | 919 | 7.8 | 1.0% | 7.8% | 7.8% | 1.0 |
| CLINT SP | CapitaLand India Trust | SGD 1.010 | 1,071 | 7.1 | 0.7% | 6.3% | 7.1% | 0.7 |
| CDREIT SP | CDL Hospitality Trusts | SGD 0.780 | 767 | 6.8 | 1.0% | 7.2% | 6.8% | 1.0 |
| DBS SP | DBS Group Holdings | SGD 45.120 | 100,279 | 6.7 | 1.2% | 6.6% | 6.7% | 1.2 |
| DHLT SP | Daiwa House Logistics Trust | SGD 0.565 | 307 | 8.7 | 0.5% | 8.3% | 8.7% | 0.5 |
| ELITE SP | Elite UK REIT | GBP 0.340 | 272 | 8.8 | 0.6% | 8.6% | 8.8% | 0.6 |
| EREIT SP | ESR-REIT | SGD 2.250 | 1,409 | 9.3 | 0.9% | 8.7% | 9.3% | 0.9 |
| FEHT SP | Far East Hospitality Trust | SGD 0.570 | 888 | 6.7 | 0.7% | 7.4% | 6.7% | 0.7 |
| FIRT SP | First REIT | SGD 0.265 | 441 | 8.9 | 0.6% | 8.6% | 8.9% | 0.6 |
| FR SP | First Resources | SGD 1.420 | 1,710 | 7.3 | 0.7% | 6.9% | 7.3% | 0.7 |
| FLT SP | Frasers Logistics & Commercial | SGD 0.810 | 2,388 | 7.4 | 1.0% | 7.4% | 7.4% | 1.0 |
| HRNET SP | HRnetgroup Ltd | SGD 0.680 | 517 | 6.0 | 0.5% | 5.9% | 6.0% | 0.5 |
| HPHT SP | Hutchison Port Holdings Trust | USD 0.155 | 1,368 | 9.5 | 0.7% | 11.8% | 9.5% | 0.7 |
| KREIT SP | K-REIT Asia | SGD 0.865 | 2,623 | 6.3 | 0.7% | 6.4% | 6.3% | 0.7 |
| LREIT SP | Lendlease Global Commercial REIT | SGD 0.485 | 922 | 7.4 | 0.8% | 7.4% | 7.4% | 0.8 |
| MINT SP | Mapletree Industrial Trust | SGD 1.930 | 4,299 | 6.8 | 0.7% | 6.9% | 6.8% | 0.7 |
| MLT SP | Mapletree Logistics Trust | SGD 1.110 | 4,417 | 6.7 | 1.1% | 7.0% | 6.7% | 1.1 |
| MPACT SP | Mapletree Pan Asia Commercial | SGD 1.190 | 4,915 | 6.7 | 1.0% | 6.5% | 6.7% | 1.0 |
| NETLINK SP | NETLINK NBN TRUST | SGD 0.870 | 2,619 | 6.2 | 0.4% | 6.2% | 6.2% | 0.4 |
| OUEREIT SP | OUE Real Estate Investment Trust | SGD 0.280 | 1,177 | 7.3 | 0.8% | 8.2% | 7.3% | 0.8 |
| PROP SP | Propnex Ltd | SGD 1.040 | 598 | 6.4 | 0.7% | 5.0% | 6.4% | 0.7 |
| RSTON SP | Riverstone Holdings | SGD 0.680 | 783 | 7.5 | 0.5% | 5.4% | 7.5% | 0.5 |
| SASSR SP | Sasseur Real Estate Investment Trust | SGD 0.625 | 615 | 9.5 | 0.8% | 9.3% | 9.5% | 0.8 |
| SGREIT SP | Starhill Global REIT | SGD 0.505 | 910 | 7.5 | 0.7% | 7.1% | 7.5% | 0.7 |
| STH SP | StarHub | SGD 1.130 | 1,525 | 6.1 | 0.5% | 5.4% | 6.1% | 0.5 |
| SERT SP | Stoneweg European Real Estate | EUR 1.610 | 1,044 | 8.1 | 0.6% | 8.7% | 8.1% | 0.6 |
| UHU SP | United Hampshire US REIT | USD 0.440 | 260 | 10.0 | 0.7% | 5.9% | 10.0% | 0.7 |
| UOB SP | United Overseas Bank | SGD 35.250 | 45,811 | 6.2 | 1.1% | 5.1% | 6.2% | 1.1 |
| VMS SP | Venture Corp | SGD 11.170 | 2,481 | 6.6 | 1.0% | 6.8% | 6.6% | 1.0 |
Singapore REITs: The Powerhouses of Dividend Yield
Singapore’s REIT sector remains a magnet for yield-seeking investors, with several trusts offering yields above 7% and some exceeding 9%. Here’s a closer look at the top REIT performers, their yields, and additional key metrics.
| Code | Company | Price (6 Jun 25) | Dividend Yield (F1) | P/Bk Ratio |
|---|---|---|---|---|
| MUST SP | Manulife US Real Estate Invest | USD 0.064 | 36.5% | 0.27 |
| UHU SP | United Hampshire US REIT | USD 0.440 | 10.0% | 0.59 |
| SASSR SP | Sasseur Real Estate Investment Trust | SGD 0.625 | 9.5% | 0.76 |
| EREIT SP | ESR-REIT | SGD 2.250 | 9.3% | 0.83 |
| FIRT SP | First REIT | SGD 0.265 | 8.9% | – |
| ELITE SP | Elite UK REIT | GBP 0.340 | 8.8% | 0.83 |
| DHLT SP | Daiwa House Logistics Trust | SGD 0.565 | 8.7% | 0.83 |
| SERT SP | Stoneweg European Real Estate | EUR 1.610 | 8.1% | 0.78 |
| CLCT SP | CapitaLand China Trust | SGD 0.685 | 7.8% | 0.63 |
| SGREIT SP | Starhill Global REIT | SGD 0.505 | 7.5% | 0.70 |
Spotlight on STI Component Stocks with Strong Dividend Yield
The Straits Times Index (STI) includes several blue-chip stocks that offer robust dividend yields, making them attractive for both local and global investors. Notable names and their forecasted yields include:
- Frasers Logistics & Commercial Trust (FLT SP): 7.4%
- Mapletree Industrial Trust (MINT SP): 6.7%
- DBS Group Holdings (DBS SP): 6.7%
- Mapletree Logistics Trust (MLT SP): 6.7%
- Mapletree Pan Asia Commercial Trust (MPACT SP): 6.7%
- Venture Corporation (VMS SP): 6.6%
- United Overseas Bank (UOB SP): 6.2%
- OCBC (OCBC SP): 5.9%
- CapitaLand Ascendas REIT (CLAR SP): 5.8%
- Jardine Cycle & Carriage (JCNC SP): 5.7%
- Genting Singapore (GENS SP): 5.7%
- Frasers Centrepoint Trust (FCT SP): 5.6%
- Wilmar International (WIL SP): 5.6%
Detailed Analysis: Major Dividend Stocks and REITs
AIMS AMP Capital Industrial REIT (AAREIT SP)
- Share Price: SGD 1.310
- Market Cap: US\$831 million
- P/E Ratio (F1): 7.7x
- Dividend Yield (F1): 7.7%
- A mid-cap REIT with a strong industrial property base, offering stability and attractive yield for income-focused portfolios.
APAC Realty Ltd (APAC SP)
- Share Price: SGD 0.460
- Market Cap: US\$127 million
- P/E Ratio (F1): 6.5x
- Dividend Yield (F1): 6.5%
- Focused on real estate brokerage and services, offering a solid yield despite its smaller market capitalization.
BRC Asia (BRC SP)
- Share Price: SGD 3.130
- Market Cap: US\$663 million
- P/E Ratio (F1): 6.2x
- Dividend Yield (F1): 6.2%
- Steel and construction solutions provider with a reliable dividend record.
Bumitama Agri Ltd (BAL SP)
- Share Price: SGD 0.750
- Market Cap: US\$1,038 million
- P/E Ratio (F1): 7.5x
- Dividend Yield (F1): 7.5%
- Agricultural producer with a notable yield and strong sector fundamentals.
CapitaLand Ascott Trust (CLAS SP)
- Share Price: SGD 0.870
- Market Cap: US\$2,582 million
- P/E Ratio (F1): 6.9x
- Dividend Yield (F1): 6.9%
- Specialized in serviced residences and hotels, CLAS benefits from a strong hospitality recovery trend.
CapitaLand China Trust (CLCT SP)
- Share Price: SGD 0.685
- Market Cap: US\$919 million
- P/E Ratio (F1): 7.8x
- Dividend Yield (F1): 7.8%
CapitaLand India Trust (CLINT SP)
- Share Price: SGD 1.010
- Market Cap: US\$1,071 million
- P/E Ratio (F1): 7.1x
- Dividend Yield (F1): 7.1%
CDL Hospitality Trusts (CDREIT SP)
- Share Price: SGD 0.780
- Market Cap: US\$767 million
- P/E Ratio (F1): 6.8x
- Dividend Yield (F1): 6.8%
DBS Group Holdings (DBS SP)
- Share Price: SGD 45.120
- Market Cap: US\$100,279 million
- P/E Ratio (F1): 6.7x
- Dividend Yield (F1): 6.7%
- Singapore’s largest bank continues to deliver industry-leading yield and strong capital ratios.
Key Observations and Minor Points
- Hutchison Port Holdings Trust (HPHT SP) offers a standout historical yield of 11.8%, though its forward yield moderates to 9.5%.
- United Hampshire US REIT (UHU SP) and Sasseur REIT (SASSR SP) are among the highest yielders in the REIT space, at 10.0% and 9.5% respectively.
- Manulife US REIT (MUST SP) shows an anomalously high forecasted yield (36.5%), indicating likely special factors or distressed pricing.
- Beta values across these stocks indicate that most high-yield names are at or below the market beta of 1.0, suggesting lower volatility relative to the general market.
- The property and logistics REIT sector is particularly prominent among top yielders, followed by banks and select industrials.
Definitions of Key Financial Terms
- Dividend Yield: Annual dividends per share divided by price per share, shown as a percentage.
- Equity Beta: A measure of volatility relative to the Straits Times Index; above 1.0 means higher volatility, below 1.0 means lower volatility.
- Market Capitalisation: The total market value of all outstanding shares.
- P/E Ratio: Price/Earnings ratio, or share price divided by earnings per share.
Conclusion: Maximizing Yield in Singapore’s 2025 Market
Singapore’s equity and REIT markets remain a reliable avenue for dividend investors, with a wide spectrum of choices spanning blue-chip banks, real estate, logistics, and industrials. With yields often surpassing 7%, and in some cases approaching double digits, the current landscape offers compelling options for conservative and growth-focused income portfolios alike. Investors are, however, advised to consider not just yield, but also company fundamentals, risk (beta), and sector trends when making allocation decisions.
OCBC Investment Research, 9 June 2025
