Wednesday, August 13th, 2025

Financial Analysis Report

OCBC Investment Research
11 August 2025

Singapore Dividend Yield Powerhouses: Top Stocks and REITs Offering Over 6% Yields in 2025

Singapore’s equity market remains a haven for yield-seeking investors, with a wealth of stocks and REITs delivering attractive dividend yields. According to OCBC Investment Research’s latest report released on 11 August 2025, numerous companies and trusts across the SGX are now forecasted to offer forward dividend yields exceeding 6%. This comprehensive guide details the top dividend plays, spanning from high-yield REITs to blue-chip STI constituents, and provides vital financial ratios and analyst recommendations for each.

Understanding Key Financial Metrics

  • Dividend Yield: Annual dividend as a percentage of share price, indicating potential returns from income.
  • Equity Beta: Risk measure compared to the Straits Times Index (STI); above 1.0 means more volatile, below 1.0 less volatile.
  • Market Capitalisation: Total valuation of a company based on current share price and outstanding shares.
  • P/E Ratio: Price-to-earnings ratio, a key valuation metric.

High Dividend Yield Stocks (Over 6%): Detailed Analysis

Code Company Currency Price (8 Aug 25) Market Cap (US\$m) P/E (F1) Dividend Yield (F1 %) Dividend Yield (F2 %) Buy Hold Sell Total Recommendations
BAL SP Bumitama Agri Ltd SGD 0.820 1,100 8.1 7.1 8 2 2 0 4
CLAS SP CapitaLand Ascott Trust SGD 0.875 2,589 5.8 7.0 18 7 2 1 10
CLCT SP CapitaLand China Trust SGD 0.725 975 6.9 7.1 16 1 2 0 3
CLINT SP CapitaLand India Trust SGD 1.140 1,199 7.0 6.4 16 4 0 0 4
DHLT SP Daiwa House Logistics Trust SGD 0.580 313 7.8 8.5 14 1 0 0 1
DCREIT SP Digital Core REIT Mgmt USD 0.520 675 7.0 6.9 23 5 0 0 5
ELITE SP Elite UK REIT GBP 0.340 280 9.7 8.7 10 6 0 0 6
EREIT SP ESR-REIT SGD 2.700 1,679 8.4 7.9 20 4 1 0 5
FEHT SP Far East Hospitality Trust SGD 0.580 913 7.8 6.4 19 4 2 1 7
FIRT SP First REIT SGD 0.275 451 8.6 8.4 0 2 0 0 2
FR SP First Resources SGD 1.550 1,857 6.4 7.1 6 0 0 6
FLT SP Frasers Logistics & Commercial SGD 0.885 2,582 6.8 6.8 20 8 4 0 12
HPHT SP Hutchison Port Holdings Trust USD 0.210 1,829 6.1 7.3 1 2 0 3
KIT SP Keppel Infrastructure Trust SGD 0.425 2,036 9.2 9.3 24 2 1 0 3
LREIT SP Lendlease Global Commercial REIT SGD 0.575 1,066 6.4 6.6 18 5 2 0 7
MINT SP Mapletree Industrial Trust SGD 1.990 4,439 6.6 6.5 16 8 6 1 15
MLT SP Mapletree Logistics Trust SGD 1.160 4,542 6.9 6.3 7 7 1 15
NETLINK SP NETLINK NBN TRUST SGD 0.900 2,729 6.0 6.0 35 6 1 0 7
OUEREIT SP OUE Real Estate Investment Trust SGD 0.320 1,373 7.0 6.3 18 4 1 0 5
RSTON SP Riverstone Holdings SGD 0.690 796 5.3 7.3 14 3 1 0 4
SASSR SP Sasseur Real Estate Investment Trust SGD 0.685 669 8.6 8.8 11 6 0 0 6
SGREIT SP Starhill Global REIT SGD 0.535 957 6.9 7.1 13 3 0 1 4
SERT SP Stoneweg Europe Stapled Trust EUR 1.580 1,032 8.9 8.4 12 5 0 0 5
UHU SP United Hampshire US REIT USD 0.475 281 8.6 9.3 2 0 0 2

Singapore REITs: High-Yield Leaders Ranked by Dividend Yield

REITs remain a core attraction in Singapore’s income investment landscape. The following REITs are especially notable for their forecasted yields, financial resilience, and analyst attention:

  • United Hampshire US REIT (UHU SP): Leading the pack with an F1 yield of 9.3% and F2 yield of 9.3%. Market cap is USD 281m with a low equity beta of 0.7, indicating lower volatility.
  • Elite UK REIT (ELITE SP): Offers an F1 yield of 8.8%, supported by a very attractive historical yield of 9.7% and a market cap of GBP 275m.
  • Sasseur REIT (SASSR SP): Delivers an F1 yield of 8.8%, with a market cap of SGD 669m and low volatility (beta 0.8).
  • Daiwa House Logistics Trust (DHLT SP): F1 yield stands at 8.4%, with a market cap of SGD 316m and beta of 0.5.
  • First REIT (FIRT SP): Consistently high yields, F1 at 8.4% and F2 at 8.4%, with a market cap of SGD 451m.
  • Stoneweg Europe Stapled Trust (SERT SP): F1 yield of 8.4%, EUR 1,032m market cap, and low beta of 0.6.
  • ESR-REIT (EREIT SP): F1 yield of 7.9%, large market cap of SGD 1,679m, and very low beta (0.8).
  • Starhill Global REIT (SGREIT SP): F1 yield of 7.1%, market cap SGD 957m.
  • CapitaLand China Trust (CLCT SP): F1 yield of 7.1%, market cap SGD 975m, and beta of 1.0.
  • CapitaLand Ascott Trust (CLAS SP): F1 yield of 7.0%, market cap SGD 2,589m.

Singapore STI Stocks with Robust Dividend Yields

Several Straits Times Index (STI) constituents are also delivering strong yields, combining blue-chip stability with income potential:

  • DBS Group Holdings (DBS SP): F1 yield at 6.0%, market cap SGD 111,724m, beta 1.2.
  • United Overseas Bank (UOB SP): F1 yield at 6.0%, market cap SGD 45,848m, beta 1.1.
  • OCBC (OCBC SP): F1 yield at 5.8%, market cap SGD 58,647m, beta 1.0.
  • Venture Corp (VMS SP): F1 yield at 5.8%, market cap SGD 2,922m, beta 0.9.
  • Frasers Logistics & Commercial Trust (FLT SP): F1 yield at 6.9%, market cap SGD 2,567m, beta 0.9.
  • Mapletree Industrial Trust (MINT SP): F1 yield at 6.5%, market cap SGD 4,417m, beta 0.7.
  • Mapletree Logistics Trust (MLT SP): F1 yield at 6.2%, market cap SGD 4,581m, beta 1.0.
  • Mapletree Pan Asia Commercial Trust (MPACT SP): F1 yield at 6.0%, market cap SGD 5,414m, beta 1.0.
  • CapitaLand Ascendas REIT (CLAR SP): F1 yield at 5.6%, market cap SGD 9,714m, beta 0.8.
  • Wilmar International (WIL SP): F1 yield at 5.6%, market cap SGD 14,379m, beta 0.7.

Sectoral Highlights and Observations

  • REITs Dominate High-Yield List: The majority of top-yielding entities are REITs, reflecting the sector’s strong cash flow and distribution mandates.
  • Financials Offer Stability and Yield: Leading banks (DBS, UOB, OCBC) combine high yields with large market caps, attracting institutional and retail investors.
  • Industrial and Logistic Trusts: Mapletree and Frasers trusts stand out for their consistent performance, moderate risk profile, and robust distribution outlook.
  • International Exposure: Several high-yielding trusts own assets overseas, such as Elite UK REIT, United Hampshire US REIT, and Stoneweg Europe Stapled Trust, providing diversification.
  • Strong Analyst Consensus: Many of these stocks and trusts enjoy broad analyst coverage, with a majority receiving “Buy” or “Hold” recommendations.

Key Financial Definitions

  • Dividend Yield: Calculated as annual dividend per share divided by current share price, expressed as a percentage.
  • Equity Beta: Measures volatility relative to the market (STI = 1.0). Higher beta means higher risk.
  • Market Capitalisation: Number of outstanding shares multiplied by current share price, indicating total company value.
  • P/E Ratio: Share price divided by earnings per share. Used to assess valuation relative to profits.

Conclusion: Navigating Singapore’s High Dividend Landscape

Singapore’s stock market continues to deliver compelling dividend opportunities for investors seeking yield, stability, and diversification. The dominance of REITs, supported by blue-chip banks and industrial stalwarts, positions Singapore as a leading market for income strategies. With yields above 6% widely available, investors are well-placed to pursue robust passive income amidst a dynamic economic backdrop.

For investors seeking to maximize yield while managing risk, a diversified approach across top-yielding REITs and select STI constituents is advisable. Always consider individual risk appetite, consult financial professionals, and review company fundamentals before making investment decisions.

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