The current stock market has been bullish, with many sectors on a bull run. Amid all this bullishness, it’s worth remembering that steady, income-generating investments still play a crucial role in a well-balanced portfolio.
In this environment, we wanted to highlight a few reliable blue-chip stocks that stand out not for their price swings, but for their consistency — companies that have delivered at least a 5% dividend and maintained uninterrupted payouts over the past decade.
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For this, we look at the Straits Times Index Constituents and share 10 stocks that have consistently delivered at least 5% in dividends.
1-3) Mapletree REITs – MIT (SGX:ME8U), MLT (M44U) & MPACT (SGX: N2IU)
Mapletree has three REITs in the STI, namely Mapletree Industrial Trust (SGX:ME8U), Mapletree Logistics Trust (M44U) and Mapletree Pan Asia Commercial Trust (SGX: N2IU).
4-5) CapitaLand REITs- CLAR (SGX:A17U) & CICT (SGX:C38U)
CapitaLand has two REITs in the STI, namely CapitaLand Ascendas REIT (SGX:A17U) and CapitaLand Integrated Commercial Trust (SGX:C38U).
6) Frasers Centrepoint Trust (SGX: J69U)
Fraser also has two REITs in the STI, namely Frasers Centrepoint Trust (SGX: J69U) and Frasers Logistics & Commercial Trust (SGX:BUOU)
Many of these REITs are known for decent yields. However, REITs are particularly sensitive to interest rates, property cycles, occupancy, and financing. Some may have skipped, reduced, or cut distributions in severe downturns (e.g. during COVID, lockdowns etc.). Therefore a full 10-year perfect history is something hard to achieve.
Most of these REITs in the STI have a relatively strong DPU growth history, raising or at least maintain its DPU over time, even in the face of macro-headwinds like high interest rates and inflation.
These REITs are also backed by the three biggest/strongest sponsors in the market, Being backed by Mapletree, CapitaLand and Frasers, giving credibility and stability, plus access to quality assets and favorable financing.
These REITs also tend to manage their portfolio by selling older / less efficient assets, and redeploying capital into better, higher-yielding ones. This helps keep returns up.
7) Genting Singapore (SGX:G13)
Genting Singapore has consistently paid out a dividend of 3.5 to 4 cents per share except during the pandemic years. Tourist arrivals are since recovered, which helps gaming & non-gaming income. But some quarters have shown weaker performance due to renovations, attractions closed for construction (as part of RWS 2.0), and also effects from volatility in win/take rates and mass-market segment underperformance.
With Singapore fast becoming a strong events hub, international visitor arrivals are helping non-gaming parts of RWS (theme parks, hotels, entertainment) recover. That gives revenue diversification beyond just gaming.
There are only two IR (Integrated Resorts) with casinos in Singapore. This gives Genting Singapore a degree of moat and competitive advantage — though it still faces stiff competition from the other IR (Marina Bay Sands).
RWS 2.0 aims to add attractions, upgrade existing ones, expand hotel capacity, etc. Once completed, these could drive more non-gaming foot traffic, improve visitor experience, and boost yields. This helps balance more volatile gaming revenue.
The RWS 2.0 expansion is capital-intensive. That means high investment outlays, potentially large depreciation / financing costs, and in the meantime, some attractions are closed for renovation which reduces revenue. These factors can suppress cash flow and make income more volatile.
Marina Bay Sands is a strong competitor in Singapore for both gaming and non-gaming segments. Some analysts note that Genting is losing mass-market share or not growing as fast in certain segments.
Genting currently has a net asset value of nearly $0.69 per share with no debt and nearly $0.30 of its net asset value in cash.
With Genting trading at $0.72, this means that excluding cash, the rest of the business is valued at about $0.42.
8) Venture Corporation (SGX:V03)
Venture currently trades at very favourable valuations when compared to the last decade. The company currently holds about $1.1 billion in cash which is approximately $3.7 per share in cash, which means that at a market capitalisation of $4.1 billion, the business is valued at about $3.0 billion or about 1x Price to revenue.
Venture is an end-to-end OEM play with capabilities in R&D, product industrialisation, supply chain solutions and effectively the entire product lifecycle management.
The free cash flow is healthy, even if revenue has had some softness over the years. Ongoing capital spending is expected to be low, which supports cash that can go toward dividends.
Longer-term growth drivers remain intact, though the consumer lifestyle segment remains a drag in the near-term. While near-term weakness persists in the consumer lifestyle segment due to longer product cycles, Venture continues to strengthen its positioning and gain market share across other technology domains, laying the groundwork for a more broad-based recovery with growth coming from certain segments such as data centres, testing & measurement and semiconductors.
Risks remain present with continued near-term macroeconomic uncertainties as a result of structural shifts away from China coupled with trade tariffs.
9) Thai Beverage (SGX:Y92)
ThaiBev operates across multiple segments — alcoholic drinks (spirits, beer), non-alcoholic beverages, and food.
It has both domestic operations in Thailand, and assets such as Sabeco which is a major beer company in Vietnam.
The company’s exposure across beer, spirits, non-alcoholic beverages, food means it’s somewhat diversified and some segments can offset others. For example, beer seems to have done well in some periods even when spirits or non-alcoholic drinks lag.
Spirits and non-alcoholic beverages have faced margin pressure with rising costs arising from raw materials as well as added marketing to keep up against competition. Moreover, alcohol consumption has trended lower and some markets have exhibited weak consumer demand.
Beverage companies are sensitive to agricultural commodity input costs (grains, sugar, packaging), fuel / logistics, energy costs. In softening consumer demand periods, cost increases can squeeze margins. Also exchange rate effects if importing inputs or operating in multiple currencies.
Beer & spirits are somewhat discretionary. If consumer spending weakens due to inflation or recessionary fears, demand can drop or people may trade down to cheaper brands.
ThaiBev has underperformed over the past decade as a result of competition and consumption trends and has also not yet been able to spin off its beer segment even though it has been in the works for more than 5 years, thus continuing to carry the high debt load of the acquisition of Sabeco.
10) UOB Limited (SGX:U11)
UOB has been showing fairly good growth in income, consistent lending activity, and a strong CET1 capital position underpinning its strong financials. This gives comfort for dividend safety.
In terms of business growth, UOB has been focused on ASEAN/regional expansion & income diversification with growth in various segments including from fee income, wealth management, cross-border trade, providing sources of income beyond just interest margins and thus hedging across economic cycles.
UOB has been returning surplus capital via special dividends or share buybacks. This also appeals to investors who want more than just regular dividend yield.
Note that while we talk about UOB here, the other two local banks DBS & OCBC also exhibit similar profiles.
Why These Kinds of Stocks Appeal
Having a reliable income stream is an important consideration for many investors (especially retirees, income-oriented ones), and a steady dividend yield of ~5% or more is attractive. These stocks often provide cash returns even if share prices are volatile.
All of these 10 stocks are in real economy sectors (REITs, property, established industrials, financials) rather than speculative growth. They tend to have more stable cash flows, which can cushion downside in weak markets.
Companies that commit to paying dividends and avoid missing them often have disciplined capital allocation. That signals good governance. Also, when yields are high, the chance of returns via dividends + modest share price appreciation can be quite attractive, especially in a low interest rate environment and where there is a premium on high yielding assets.
Even if share price growth is modest, the high yield contributes significantly to total return. In some cases, share prices may also appreciate due to asset growth, rental / leasing improvements (for REITs), or operational expansions.
Chris shares how he picks the best dividend stocks for his early retirement portfolio that helped him retire at 39. Discover how with him live.
