Dividends are the key to helping you enjoy a secure and comfortable retirement.

This inflow of passive income is a good way to augment your active income and support your lifestyle as you enter your golden years.

However, it’s important to look for stocks that can consistently raise their dividends to keep ahead of inflation.

By owning such companies, you can see your dividend income steadily increase over the years.

Here are four Singapore stocks that raised their dividends sharply during the recent earnings season.

Grand Venture

Grand Venture Technology, or GVT, is a solutions and services provider for the manufacture of complex precision machining, sheet metal components, and mechatronic modules.

The group owns manufacturing plants in Singapore, Malaysia, and China.

GVT reported a robust set of earnings for 2024 with revenue leaping 43.3% year on year to S$159.5 million.

All three of the group’s divisions enjoyed year-on-year revenue increases.

Net profit for the group soared 96.4% year on year to S$10.9 million.

GVT eked out a small positive free cash flow of S$280,000 for the year.

The group proposed a final dividend of S$0.003, triple the S$0.001 that was paid out for 2023.

There could be more growth to come.

GVT provided revenue guidance of between S$90 million and S$96 million for the first half of 2025, representing year-on-year growth of between 31.7% and 40.5%.

SEMBCORP INDUSTRIES LTD

Sembcorp Industries, or SCI, is an energy and urban solutions provider.

The blue-chip group owns a balanced energy portfolio of 25.1 GW and its urban development projects span 14,400 hectares across Asia.

SCI reported a mixed set of earnings for 2024.

Its revenue fell by 9% year on year to S$6.4 billion, mainly because of a planned major maintenance of a cogeneration plant in Singapore along with a sharp 34% year-on-year decline in wholesale electricity prices during 2024.

Net profit (before exceptional items) remained flat year on year at S$1 billion.

Despite the flat profit, management expressed confidence in the group’s future performance and ability to generate sustainable returns.

SCI proposed a final dividend of S$0.17, more than double the S$0.08 paid out for 2023.

For 2024, the total dividend stood at S$0.23, up significantly from the previous year’s S$0.13.

SCI achieved healthy growth in its renewables portfolio, adding 4.1 GW of capacity since early 2024.

As of February 2025, its gross renewables capacity stood at 17 GW and its 2028 target is for this number to increase to 25 GW.

Its Integrated Urban Solutions division also achieved higher land sales in Vietnam and Indonesia and increased its land bank in Vietnam with three new investment licences.

YZJ Shipbldg SGD

Yangzijiang Shipbuilding, or YZJ, is one of China’s largest non-state-owned shipbuilding companies.

The group owns and operates four shipyards in Jiangsu province that can manufacture a wide range of vessels such as containerships, oil tankers, and gas carriers.

For 2024, revenue grew 5.5% year on year to RMB 13.5 billion.

Gross profit improved by 25% year on year to RMB 4.1 billion while net profit surged 50.5% year on year to RMB 3.6 billion.

The shipbuilder’s free cash flow generation also shot up 65.7% year on year to RMB 11.9 billion in 2024.

The group declared a final dividend of S$0.12, 85% higher than the S$0.065 paid out a year ago.

YZJ secured total orders of US$14.6 billion for 2024, more than tripling its 2024 target of US$4.5 billion.

Its outstanding order book stood at US$24.4 billion as of 31 December 2024.

The group has outlined its expansion plan, Project Hongyuan, by acquiring land adjacent to its Xinfu yard.

This new project will cost RMB 3 billion and the new production base will be equipped with state-of-the-art shipbuilding facilities that can construct sophisticated vessels such as dual-fuel ships and high-end gas carriers.

Golden Agri-Res

Golden Agri-Resources, or GAR, is an integrated agribusiness and manages a palm oil plantation of over 536,000 hectares as of 31 December 2024.

GAR’s products are sold to a diversified customer base in over 110 countries.

For 2024, the agribusiness reported a sparkling set of earnings.

Revenue rose 12% year on year to S$10.9 million while gross profit increased by 11% year on year to S$2.1 million.

Net profit soared 84% year on year to S$365 million but GAR’s underlying net profit improved 27% year on year to S$416 million.

A final dividend of S$0.00804 was declared, up 31.2% year on year from the S$0.00613 paid out a year ago.

Management intends to fortify its position as a leading integrated agribusiness by achieving operational excellence for its upstream operations.

It will focus on margin enhancement for its downstream business through advanced R&D on fats and oils, and shifting its product portfolio towards quality and healthier alternatives and sustainably-produced products.