Dividends are an investor’s best friend, as they represent a tangible return on your investment.

Blue-chip stocks are renowned not only for their stability and resilience but also for consistently paying dividends.

These dividends provide a stream of useful passive income that can help you to enjoy a comfortable retirement.

Here are four Singapore blue-chip stocks that recently upped their dividends by double-digit percentages.

DBS Group

DBS is Singapore’s largest bank by market capitalisation and offers a comprehensive range of banking, insurance, and investment services.

The lender reported a sterling set of earnings for 2024 with total income rising 10% year on year to S$22.3 billion.

The increase occurred on the back of a 5% year-on-year increase in commercial book net interest income.

Profit before allowances improved by 11% year on year to S$13.4 billion.

Net profit climbed 12% year on year to S$11.3 billion.

In line with the good results, DBS increased its quarterly dividend to S$0.60 per share, 22.4% higher than the S$0.49 that was paid out for the fourth quarter of 2023.

In addition, the board also plans to introduce a capital return dividend of S$0.15 per share per quarter.

DBS expects to pay out a similar amount of capital through either a share buyback or capital return dividend, barring unforeseen circumstances.

The bank gave a sanguine outlook for 2025 with the expectation for a slight decline in net interest margin, offset by positive loan growth.

However, the skies have darkened considerably with the announcement of global tariffs by President Trump, so the bank may have to reassess its prospects for this year.

Sembcorp Industries

Sembcorp Industries, or SCI, is an energy and urban solutions provider with a balanced energy portfolio of 25.1 GW and urban development projects spanning 14,400 hectares across Asia.

SCI reported a mixed set of results for 2024 with revenue falling 9% year on year to S$6.4 billion and net profit staying flat year on year at S$1 billion.

The fall in revenue can be attributed to the major planned maintenance shutdown of a cogeneration plant and falling electricity prices.

Despite the financial numbers, SCI hiked its final dividend by 112.5% year on year from S$0.08 to S$0.17.

For 2024, the total dividend stood at S$0.23, a 77% increase from the S$0.13 paid out for 2023.

CEO Wong Kim Yin said that the dividend increase signals management’s confidence in SCI’s long-term future performance and ability to generate sustainable returns.

Meanwhile, the utility specialist also announced a strategic reorganisation along with planned initiatives to propel the company to greater heights.

Singtel

Singtel is Singapore’s largest telecommunication company (telco) offering a broad range of services including mobile, broadband, and pay TV.

For the first half of fiscal 2025 (1H FY2025) ending 30 September 2024, Singtel saw its operating revenue remain stable year on year at S$7 billion.

Operating profit, however, surged 27% year on year to S$738 million, led by Optus and NCS.

The telco’s underlying net profit increased by 6% year on year to S$1.2 billion.

Singtel declared a core interim dividend of S$0.056 along with a value realisation dividend (VRD) of S$0.014, taking the total dividend for 1H FY2025 to S$0.07.

This total dividend is 34.6% above the S$0.052 that was paid out for 1H FY2024.

The VRD comes from Singtel’s capital recycling efforts in selling off non-core assets and will be a component of the telco’s total dividends moving forward.

In line with its ST28 strategic vision, Singtel plans to scale its growth engines and continue its focus on active capital management.

Yangzijiang Shipbuilding

Yangzijiang Shipbuilding, or YZJ, is one of the largest non-state-owned shipbuilding companies in China with four shipyards in Jiangsu.

The group produces a broad range of commercial vessels including large containerships, bulk carriers, and gas carriers.

YZJ announced a sparkling set of earnings for 2024 with revenue rising 10.1% year on year to RMB 26.5 billion.

Gross profit shot up 40.6% year on year to RMB 7.6 billion.

Net profit soared 61.7% year on year to RMB 6.6 billion.

In tandem with its strong results, the shipbuilder hiked its final dividend by 84.6% year on year from S$0.065 to S$0.12.

YZJ snagged total order wins of US$14.6 billion for 2024, more than three times its target of US$4.5 billion.

The group ended the year with a record order book of US$24.4 billion, 68% higher than the previous year’s US$14.5 billion.