TOP-10 Dividend Contributors at Q1 2021
Below is a table that shows the Top-10 dividend contributors to me at Q1 2021. To be more factual, the ranking is based on dividend declared and not dividend paid. I have also included the Top-10 at this same point last year and the year before (only managed to record the top 5 for 2019).
It is interesting to see that there are a few consistent and regular contributors in the 3 years.
Though their positions had changed depending on the size of my holding of each company and the dividend they declared at that point, they continue to feature regularly in this Top-10 list.
The 5 consistent contributors are Manulife Reit, OUE Commercial Trust, I-Reit, Suntec Reit and Frasers Property. They are also among my top-10 holding as you would see in another table below (except for Frasers Property)
Eagle Hospitality was the visible omission in 2021 after topping the Top-10 at this point last year. I am sure everyone knows the sad story of Eagle Hospitality and I won’t repeat it here to cause more pain to you and me.
The other interesting point is that all except one in the Top-10 list for 2021 is a Reit.
This is despite the COVID raging around last year. This shows the importance of the S-Reit sector to my passive income.
| Rank | March 2021 | March 2020 | March 2019 |
|---|---|---|---|
| 1 | Manulife Reit | Eagle Hospitality Trust | Manulife Reit |
| 2 | OUE Commercial Trust | Hutchinson Port Holding | OUE Commercial Trust |
| 3 | I-Reit | I-Reit | Frasers Property |
| 4 | Suntec Reit | OUE Commercial Trust | Capitaland Retail China |
| 5 | Sabana Reit | Frasers Property | I-Reit |
| 6 | SPH Reit | Manulife Reit | |
| 7 | CDL Hospitality Trust | ARA LOGOS Reit | |
| 8 | Frasers Property | Suntec Reit | |
| 9 | Keppel Reit | First Reit | |
| 10 | Keppel DC Reit | Tai Sin Electric |
TOP-10 Holding at Q1 2021
The table below shows my Top-10 holding at Q1 2021. I have also included the Top-10 at this same point last year and the year before (only managed to record the top 5 for 2019) for comparison.
Singtel is the only survivor through the 3 years but its ranking has dropped to #3 now.
Besides Singtel, the rest are the 2 local banks (OCBC and UOB) and the Reits.
OCBC and UOB benefited from the latest surge in the banks’ share prices. You may be wondering where is DBS – it is not in the top10 as I have reduced my stake in it given that it has outperformed OCBC and UOB by a large gap. I think it is overpriced relative to OCBC and UOB. If its share price comes down later, I would be happy to accumulate more.
| Ranking | March 2021 | March 2020 | March 2019 |
|---|---|---|---|
| 1 | OCBC | Singtel | Singtel |
| 2 | UOB | OUE | OUE Commercial Trust |
| 3 | Singtel | Eagle Hospitality Trust | Frasers Property |
| 4 | Ascendas Reit | SATS | Starhill Global Reit |
| 5 | Suntec Reit | Q&M Dental | Q&M Dental |
| 6 | OUE Commercial Trust | Hong Kong Land | |
| 7 | Manulife Reit | UOB | |
| 8 | Netlink Trust | Suntec Reit | |
| 9 | I-Reit | SPH | |
| 10 | MapleTree Industrial Trust | Frasers Properties |
I am surprised to discover that the changes in the Top-10 holding are more drastic than the Top-10 dividend contributors. I thought they would be more similar but I was obviously wrong.
I would perform this same comparison in later part of the year to see if this is a consistent observation or not. It could also be that the banks and Reits were more badly affected in March 2020 at the onset of COVID spreading through the world and therefore, fell out of the Top-10 holding in 2020. And related to that, they have made strong recovery this year and therefore, they are outperforming the rest.
Hope you find this a useful sharing. It is at least an insightful exercise for me to see some of the changes and appreciate the consistency.
Have a great investment week ahead.
Regards
Warriortan
