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Singapore’s dividend landscape in 2025 offers a solid foundation for income-focused investors. With consistent yields, favorable tax treatment, and rising payouts from financial giants like DBS, OCBC, UOB, SIA, and SGX, the city-state continues to be an attractive dividend hub in Asia.
1. Dividend Policies in Singapore: An Investor-Centric Approach
Singapore’s corporate laws permit companies to distribute dividends from profits, incentivizing long-term investment and shareholder loyalty. Dividends may be classified as taxable or non-taxable, depending on their source and type.
Non-Taxable Dividends:
- Paid by Singapore-resident companies
- REIT distributions
- Certain foreign-sourced dividends
Taxable Dividends:
- Typically those paid by foreign entities not covered under tax treaties
2. 2025 Dividend Yields: A Company-by-Company Breakdown
DBS Bank
- Dividend Yield (2025): ~6.1%
- Bonus Shares: Issued to shareholders holding DBS stock for over 10 years
- Share Price Target (Median): SGD 44.95
- Notable: Final quarter dividend up 53% YoY, showing strong confidence
Singapore Airlines (SIA)
- Expected Yield: 5.84% (Trailing 12-month)
- Q2 Earnings Release: Nov 8, 2025
- 2025 Earnings Forecast: $0.73 per share
- Notable: Dividend increase linked to 50% YoY profit growth
OCBC Bank
- Dividend Yield (2025): 6.18%
- 5-Year Avg Yield: 5.07%
- Share Price Target (Median): SGD 17.795
- Total Assets: S$151 billion
- Notable: Continues outperforming with high dividend stability
United Overseas Bank (UOB)
- Dividend Yield (2025): 5.69%
- Dividend Payout (April 2025): SGD 1.19
- Share Price Target (Median): SGD 39.125
- Notable: Semi-annual dividends with consistent growth outlook
Singapore Exchange (SGX)
- Dividend Yield (2025): 3.71%
- Earnings per Share: SGD 0.53
- 1H FY2025 Results: Expected Feb 6
- Notable: Lower yield, but SGX remains a defensive dividend pick
3. Payout Dates & Strategy
Dividend payout schedules differ across companies and may depend on profit cycles, policy changes, or market sentiment. However, all companies mentioned follow clear, investor-friendly schedules, with semi-annual or quarterly disbursements.
4. Tax Treatment: Why Singapore Remains Attractive
- Resident company dividends are non-taxable for shareholders
- No dividend withholding tax in most cases
- Clear distinction between taxable and non-taxable income provides predictability
Expert Take
“In 2025, Singapore’s dividend-paying companies not only offer attractive yields but also demonstrate balance sheet strength and policy consistency. For long-term investors, this environment offers a combination of income security and capital appreciation potential.”
With yields as high as 6.1%, bonus shares, and predictable payouts, Singapore’s top corporates are rewarding shareholders well in 2025. In an era of rising global volatility, Singapore continues to deliver on its promise of being Asia’s most investor-friendly dividend jurisdiction.
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