Amid market volatility, the stability and regularity of dividend payments provide significant reassurance to investors. Receiving dividends during uncertain times helps investors stay committed to quality companies, reducing the temptation to sell in a downturn.

The finest dividend stocks reward their shareholders consistently, regardless of market conditions.

Today, we turn the spotlight on three prominent Singapore blue-chip stocks—Singapore Exchange (SGX), CapitaLand Integrated Commercial Trust (CICT), and DBS Group Holdings (DBS)—all of which have offered steadfast dividend payouts for over a decade.

SGX

Singapore Exchange, or SGX, holds a unique position as the sole approved and regulated financial exchange in Singapore.

This monopoly enables the company to enjoy stable and recurring revenue through securities and derivatives trading activities. With a business model relying on transaction-based fees from these activities, SGX exhibits resilience across economic cycles, making it a reliable dividend payer.

Over the years, SGX has consistently increased its annual dividends, growing its dividend per share by 33.9%, from S$0.28 in FY2016 to S$0.375 in FY2025. During this time, its average dividend payout ratio hovered around 75%, though it declined to the low-60% range starting FY2023.

Between FY2016 and FY2025, the firm’s revenue expanded at a compound annual growth rate (CAGR) of 5.9%, reaching S$1.37 billion, while net profits grew even faster at a CAGR of 7.1%. This consistent upward trajectory has allowed SGX to grow its dividend per share at a CAGR of 3.3% over the last decade, supported by its strong cash flows.

SGX currently offers an estimated dividend yield of 2.1%, underpinned by steady performance without significant volatility. Its dominant market position and durable cash flows highlight its ability to sustain and grow its dividends.

CapitaLand Integrated Commercial Trust

CapitaLand Integrated Commercial Trust, or CICT, holds the title as Singapore’s largest real estate investment trust (REIT). Formed through the 2020 merger of CapitaLand Mall Trust and CapitaLand Commercial Trust, CICT’s diversified portfolio of retail and commercial properties ensures stable income streams, even during challenging market environments.

During the COVID-19 pandemic, the REIT continued distributing dividends, with DPU (distribution per unit) at S$0.0869 in 2020. Since then, it has recorded steady growth, with DPU reaching S$0.1088 in 2024. However, this figure remains below its pre-pandemic peak of S$0.1197 in 2019.

As of 1H2025, CICT maintained an impressive portfolio occupancy rate of 96.3%. Encouragingly, its retail properties saw rental rates increase by 7.7% year-over-year, while office rents rose by 4.8%. The REIT also boasts strong financials, with an aggregate leverage of 37.9% and an average cost of debt at 3.4%.

In 1H2025, CICT reported a 3.5% year-on-year increase in DPU to S$0.0562, translating to an estimated annualized yield of 4.8%. Its consistent payouts are supported by high occupancy rates and backing from its sponsor, CapitaLand Investments (SGX: 9CI).

DBS

DBS Group Holdings, or DBS, reigns as Singapore’s largest local bank with an impeccable history of consistent and growing dividend payouts, bolstered by rising profits and solid capital buffers.

Although requested by the Monetary Authority of Singapore (MAS) to reduce dividends during the pandemic, DBS has since rebounded, marking significant dividend growth. Its annual dividend per share surged by 311%, from S$0.54 in 2016 to S$2.22 in 2024. Excluding the temporary reduction during COVID-19, the bank has progressively raised its annual dividends.

For the last 12 months, DBS maintained a healthy dividend payout ratio of 59.4%, firmly supported by robust profitability. Over the last decade, ending June 2025, the bank’s net profit grew at an impressive CAGR of 13.9%, reaching S$11.3 billion.

DBS achieved a return on equity (ROE) of 16.8% for the same period, significantly superior to its industry peers. Furthermore, its Common Equity Tier 1 (CET1) capital ratio stood at 15.1%, far exceeding regulatory requirements of 9%, ensuring its capability to sustain dividend payouts even during economic distress.

With consistent growth in both income and capital efficiency, DBS proves its long-term reliability as a dividend stock.

The Takeaway for Investors: Consistency Defines Strong Companies

Consistent dividend payouts, even in turbulent times, are the hallmark of robust businesses. SGX, CICT, and DBS exemplify this principle, showcasing how sturdy fundamentals and dependable cash flows support shareholder value.

These three blue-chip stocks underscore the importance of quality over yield. Smart investors should prioritize companies with a long-term record of solid dividend payouts, building a resilient portfolio anchored by fundamentally strong businesses.