As we step into the second quarter of 2025, dividend-focused investors and business owners in Singapore are closely monitoring payout announcements. Dividend distributions play a key role in generating passive income and understanding company profitability. In April 2025, major Singaporean firms including Keppel, Singapore Airlines (SIA), DBS Bank, Singtel, and OCBC have confirmed their dividend disbursement schedules.
Dividend payouts reflect the financial health and strategy of a company. In Singapore, they also serve as a trust-building mechanism between shareholders and corporates, offering consistent returns to investors while showcasing fiscal discipline.
Understanding Singapore’s Dividend System
Dividends are essentially a portion of a company’s earnings distributed to shareholders, typically in the form of cash or additional shares. They’re not just rewards—they reflect the company’s profitability, investor commitment, and growth strategy.
In Singapore, dividends can be tax-exempt or taxable, depending on whether they are sourced locally or internationally. Most Singapore-listed companies issue tax-exempt dividends due to the country’s one-tier corporate tax system. However, foreign-sourced dividends may still be taxable based on jurisdiction.
There are several types of dividends, including:
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Ordinary dividends (regular payouts)
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Special dividends (one-off payments)
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Interim and final dividends
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Real estate and REIT distributions
Key Dividend Policy Highlights for 2025
Singapore corporates continue to focus on sustainable and strategic dividend policies. As of the close of the financial year on 31 March 2024, the average dividend yield reached 15%, up from 9.9% the previous year—a 52.3% increase.
This year’s dividend strategy includes:
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A core dividend range of 70–90% of underlying profits
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A value realization component of 3–6% per annum
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Capital returns funded by asset recycling initiatives and surplus capital
The next major tranche will be paid on 20 April 2025, at 1.9 cents per share, following AGM approval.
April 2025 Dividend Payout Table
| Company | Annual Yield (%) | Quarterly Dividend | Payment Date | Notes |
|---|---|---|---|---|
| Keppel Ltd | 5.56 | 0.08 SGD | 20 April 2025 | Strong Q1 margins; capital at 6.11 SGD |
| SIA | 5.84 | S$0.50 per share | 8 April 2025 | Payout ratio at 76%; above industry average |
| DBS Group | 5.60 | 0.50 SGD | April 2025 (TBA) | 35.60 SGD capital; includes international exposure |
| Singtel | 7.9 (incl. special) | 0.079 SGD | 20 August 2024* | Includes 2% special dividend in tranches |
| OCBC | 5.75 | S$0.44 | August 2024, April 2025 | 6% growth announced; final quarter payout expected |
*Next payout after April is August 2024 for Singtel. April 2025 announcements are expected soon.
Company-Specific Updates
Keppel Limited Dividend Overview
Keppel Corporation, headquartered in Keppel Bay Tower, has remained a consistent performer in sectors like property, infrastructure, and asset management. The company’s current dividend yield stands at 5.56%, reflecting steady growth and a solid quarterly dividend of 0.08 SGD. Keppel’s resilient capital base, recorded at 6.11 SGD, reinforces its dividend sustainability.
Singapore Airlines (SIA) Dividend Overview
SIA has shown strong shareholder returns with a 5.84% dividend yield. The company issued S$0.50 per share in its final quarter. The next dividend is slated for 8 April 2025, with a stable payout ratio of 76%, beating the industry average of 4.6%. Despite past market turbulence, SIA has stabilized with a forward-looking payout structure.
DBS Group Dividend Overview
DBS Bank, one of Asia’s top-tier banks, maintains a dividend yield of 5.60% and a capital valuation of 35.60 SGD. Dividends are taxable due to the bank’s global investment profile. A quarterly dividend of 0.50 SGD remains in line with the group’s long-standing shareholder return commitment.
Singtel Dividend Overview
Singtel plans to pay its ordinary dividend of 7.9% on 20 August 2024, comprising a 6% core dividend and 1.9% in value realization. Investors registered before 1 August 2024 are eligible. Additionally, a 2% special dividend will be split into two tranches, likely stretching into early 2025.
OCBC Dividend Overview
OCBC’s dividend framework includes two major disbursements. Shareholders with positions as of 12 August 2024 are set to receive S$0.44 per share, following a May 2024 payout of S$0.42. With a reported 5.75% yield, OCBC has also confirmed a 6% dividend growth as part of its full-year outlook.
Conclusion
Singapore’s major companies continue to reward investors with stable and, in many cases, increasing dividend yields in 2025. From Keppel’s consistent returns to Singtel’s special tranches and SIA’s recovery, the April 2025 dividend calendar reflects strong fundamentals. Whether you’re a business owner or long-term investor, staying informed on dividend policies and payout dates ensures smarter financial decisions in a dynamic market.
FAQs
What are the key dividend payout dates in April 2025?
The most notable dividend dates include 8 April 2025 for SIA and 20 April 2025 for Keppel, with others expected to finalize dates soon.
Are Singapore dividends taxable?
Most Singapore-based dividends are tax-exempt due to the one-tier tax system, but internationally sourced dividends may be taxable depending on origin and agreements.
What is a core dividend?
A core dividend is the regular, recurring portion of a company’s payout, typically calculated as a percentage of annual profits.
How often are dividends paid?
Most companies pay quarterly or semi-annually, though some offer special or interim dividends depending on financial performance.
Who qualifies for dividend payouts?
Shareholders registered before the ex-dividend date are entitled to receive payouts. This varies by company and payment cycle.
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