Dividends

3 Local Bank Stocks That Pay You Good Dividends

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Here are 3 local bank stocks that pay you good dividends. They are DBS (SGX:D05), UOB (SGX:U11) and OCBC Bank (SGX:O39). Out of the 3 Singapore local banks, I currently held OCBC Bank in my stock portfolio.

DBS, UOB and OCBC Bank are paying out their dividends in the month of May. How much dividend are these 3 banks paying in 2023? What is the current dividend yield of each bank? Last, which bank has the highest current dividend yield? Let us take a look below.

DBS (SGX:D05)

DBS dividend payout date is on 22nd May 2023. The Ex-Dividend date is on 9th May 2023. This is DBS Q1 interim dividend of S$0.42.

In FY22, DBS paid a total dividend of S$2. This includes a special dividend of S$0.50 paid in April 2023.

DBS Share Price 12 May 2023

Based on the current share price of S$30.66 and FY22 full year dividend of S$2, this translate to a current dividend yield of 6.52%. If we exclude the special dividend, the current dividend yield would have been 4.89%.

UOB (SGX:U11)

UOB dividend payout date is on 12th May 2023. UOB ex dividend date is on 28th April 2023. This is UOB FY22 final dividend of S$0.75.

UOB Share Price 12 May 2023

Based on UOB’s current share price of S$27.77 and FY22 full year dividend of S$1.35, this translate to a current dividend yield of 4.86%.

OCBC Bank (SGX:O39)

OCBC dividend payout date is on 19th May 2023. OCBC ex dividend date is on 8th May 2023. This is OCBC’s FY22 final dividend of S$0.40.

OCBC Share Price 12 May 2023

Based on OCBC current share price of S$12.25 and FY22 full year dividend of S$0.68, this translate to a current dividend yield of 5.55%.

Summary of 3 Local Bank Stocks That Pay You Good Dividends

If we exclude DBS special dividend payout in FY22, OCBC bank has the most attractive current dividend yield at 5.55% among the 3 local Singapore banks.

Having said that, we should not solely depend on current dividend yield to invest. You should do further analysis.

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