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The SIA shares price sits at around S$6.55 as of 21 September 2026. Since the SIA shares price changes throughout each trading day, I always check the live quote on SGX or my broker before acting on any figure here. This post looks at SIA’s current and historical dividend yield, and sets out the pros and cons I would weigh before buying into SIA at current levels, as a possible addition to my stock portfolio.
SIA’s Historical Dividend Record
SIA suspended its dividend during FY2020/21 and FY2021/22 as the airline industry absorbed the impact of the pandemic. Since then, according to SIA’s own investor relations page, the dividend has recovered as follows:
| Financial Year | Interim Ordinary Dividend | Final Ordinary Dividend | Total (Ordinary) |
| FY2022/23 | 10 cents | 28 cents | 38 cents |
| FY2023/24 | 10 cents | 38 cents | 48 cents |
| FY2024/25 | 10 cents | 30 cents | 40 cents |
For FY2025/26, the most recently completed financial year, SIA declared an interim ordinary dividend of 5 cents plus an interim special dividend of 3 cents (paid 23 December 2025), followed by a final ordinary dividend of 22 cents plus a final special dividend of 7 cents (paid 28 August 2026). That works out to 27 cents in ordinary dividends plus 10 cents in special dividends, for a total of 37 cents per share for the year.
The special dividend is not a permanent increase to the payout. It is the first year of an announced three year capital return package of 10 cents per share annually, covering FY2025/26 through FY2027/28, on top of SIA’s regular ordinary dividend.
SIA’s Current Dividend Yield Based on SIA Shares Price
Based on a share price of S$6.55 and the full FY2025/26 payout of 37 cents per share, SIA’s trailing dividend yield works out to approximately 5.65 percent.
If I strip out the temporary special dividend and look only at the 27 cents in ordinary dividends, the more sustainable underlying yield is closer to 4.12 percent. I think this ordinary only figure is the more meaningful one to anchor expectations on, since the special dividend component is scheduled to end after FY2027/28 unless the board announces a further extension.
SIA’s Recent Financial Performance
According to SIA’s own results announcement for the half year ended 30 September 2025, Group revenue rose 1.9 percent year on year to a first half record of $9,675 million, supported by passenger demand and a 1.3 percentage point improvement in load factor to 87.7 percent. Operating profit came in at $803 million, marginally ahead of the previous year.
Net profit told a different story, falling 67.8 percent to $239 million. SIA attributed this primarily to its share of losses from Air India, which the Group began equity accounting for from December 2024, along with lower interest income from reduced cash balances and interest rate cuts. Basic earnings per share fell from 22.9 cents to 7.9 cents over the same period.
On the balance sheet, SIA’s position actually strengthened in several respects. The debt to equity ratio improved from 0.82 to 0.70 times, and the Group held $6.4 billion in cash and bank balances, plus a further $2.1 billion in longer tenor fixed deposits and $3.3 billion in undrawn committed credit lines. Net asset value per share stood at $4.97 as of 30 September 2025, which means the current share price of around S$6.55 represents a premium of roughly 1.3 times book value.
How I Would Buy SIA Shares
SIA shares trade on the SGX Mainboard under the ticker C6L, and I can buy them through any brokerage account that offers access to Singapore listed equities, such as DBS Vickers, POEMS, Tiger Brokers, or moomoo. I place an order during SGX trading hours, choosing between a market order that fills at the best available price or a limit order that only fills at a price I specify. Since SIA pays dividends in Singapore dollars directly into my brokerage or CDP account, I do not need to do anything extra to receive them once I hold shares as of the relevant books closure date.
Reasons to Consider Buying SIA Right Now Considering SIA Shares Price
- Attractive current yield. At around 4 to 5.6 percent depending on whether the special dividend is included, SIA’s yield compares reasonably well against other blue chip dividend payers on the SGX.
- Committed capital return program. The three year special dividend package signals that the board is confident enough in SIA’s balance sheet to return additional capital to shareholders, not just maintain the ordinary dividend.
- Diversified revenue base. SIA’s business spans full service passenger flights under the Singapore Airlines brand, low cost travel through Scoot, cargo operations, and aircraft engineering services, which reduces reliance on any single revenue stream.
- State linked ownership. Temasek Holdings remains a major shareholder alongside related entity Napier Investments, which some investors view as a stabilising factor during industry downturns.
- Continued air travel demand. Passenger demand has stayed resilient heading into peak travel periods, supporting revenue even as the operating environment remains competitive.
Reasons for Caution On Top of Considering SIA Shares Price
- Earnings have been volatile. While revenue grew in the most recent financial year, earnings fell sharply year on year, a reminder that airline profitability can swing significantly even when revenue is rising.
- The special dividend is temporary. Relying on the current higher yield persisting beyond FY2027/28 assumes the board extends the capital return program, which is not guaranteed.
- Air India exposure. SIA holds a stake of just over 25 percent in Air India, and its own H1 FY2025/26 results confirm that SIA’s share of losses from Air India was the primary reason net profit fell 67.8 percent even as operating profit held up. Air India has also reportedly sought significant additional funding from its owners, and any further capital calls could affect how much cash SIA has available for shareholder returns.
- Structurally thin margins. Airlines are capital intensive and exposed to swings in jet fuel prices, currency movements, and geopolitical shocks that can affect fuel costs and route profitability with little warning.
- Analyst sentiment is neutral. Consensus analyst ratings on SIA have generally sat at Hold rather than Buy, suggesting limited perceived near term upside at current price levels.
- Long term share price has been range bound. SIA shares remain well below their all time high, and the stock has spent long stretches in a broad trading range rather than a sustained uptrend.
Is SIA a Buy Right Now Based on SIA Shares Price?
I see SIA as a reasonable option for an income focused investor who wants SGX exposure to the travel and aviation recovery, provided I go in with realistic expectations about the sustainable yield once the special dividend program ends. The near term yield looks attractive, but I would base my decision on the roughly 4 percent ordinary dividend yield as the durable baseline, treating the additional special dividend as a bonus rather than something to count on indefinitely.
As with any stock, this is not a recommendation to buy or sell. I always check SIA’s own dividend information page and the live share price on SGX before making any decision, since both change over time.