Singtel is the last company in my SG portfolio to report results and declare dividends.
Now I can share the top 10 contributors of my passive income for first half 2024.
They are …
There are some changes from the same table from Q1 2024 … if interested, you can read my earlier post https://investforyourself.wordpress.com/2024/03/03/closing-this-quarter-dividends-tracking/
The changes are:
1) Frasers Logistics Commercial (FLCT) jumped from nowhere to the # 1 position. This is not surprising as FLCT only declares dividends in Q2 and Q4 of every calendar year and it is also my largest holding currently.
2) Similar reasons for the appearance of Netlink Trust and Singtel in the 1H table – they are significant holdings too.
3) Then come the Mapletrees family … which are also heavy weights in my portfolio.
4) Venture fell a few notches as I sold them when its share price increased significantly. As a result, I had foregone some of their dividends that I assumed that I would receive at the point of announcement in Q1. Same reason for OCBC.
As the saying goes, a bird in hand is better than two birds on the bushes.
My current dividend yield for my equity portfolio is 2.5%.
This put me on track to reach my target of 5% yield by year end barring any unforeseen circumstances. I am super happy with the current situation.
A 5% yield portfolio is a good passive income supplement that I appreciate a lot.
I am glad that I have been able to achieve this level of yield for the last few years. I hope to be able to maintain it. It will come in super useful when I lose my active income one day.
Just to complete this post, I would share my Top-10 Holdings with you.
You would see that it generally mirrored the Top-10 Dividend Contributors. No surprise as my investment aim is to build a resilient portfolio with regular passive income – so, I am looking to hold good companies that pay consistent and sustainable dividends. The larger and well capitalised reits are expectedly on top of my list.
They are …
It is quite similar to the Q1 Top10 holding except for the 2 following notable changes.
1) I have accumulated a fair amount of Hong Kong Telecoms (HKT) shares in the last quarter. I am attracted to the leadership position and the stability of this company in the HK telecom market and its attractive dividend yield of 8%. I also believe their dividend is sustainable. Furthermore, there is no withholding tax on HK dividend received.
Below is a simple introduction of HKT if you are interested.
Latest Financial numbers are as follows:
More on its share price can be found here : https://finance.yahoo.com/quote/6823.HK/
Sound like Singtel? Yes, they are similar even in terms of share price movements too … they hardly move up or down significantly … hahaha
In a recent post on 23 May 2024 from The Edge magazine, the headline for Singtel as shared by its CFO was “Singtel shifts from transformation to growth; seeks better dividend generation”
I like this change of direction from Singtel a lot since I am a passive income seeker making Singtel quite similar to HKT.
I hope Singtel will become more cost efficient, generate more positive cashflows and thus increase its dividend distributions to the point that is similar to our banks.
2) The second change in my Top 10 holding is Keppel Reit. This is more because I had sold off some stakes in Venture and OCBC and thus both of them dropped below Keppel Reit in this latest round.
I hope this post is useful to you in some ways.
Have a great week ahead.
Regards
Warriortan
Invest For Yourself 