While many investors concentrate primarily on blue-chip stocks due to their established reputation for durability and steadiness, overlooked opportunities exist within the mid-cap segment for those willing to conduct thorough research.
These securities can provide effective portfolio diversification while delivering both capital appreciation and dividend income.
Throughout the latest earnings reporting period, several mid-cap enterprises successfully increased their dividend distributions alongside profit growth.
Here we examine four such businesses that investors may consider adding to their potential investment lists.
Tiong Woon Corporation
Tiong Woon Corporation, abbreviated as TWC, operates as a comprehensive heavy lift specialist serving the oil and gas, petrochemical, infrastructure, and construction industries.
The company delivered impressive financial results for fiscal 2025 (FY2025), which concluded on 30 June 2025.
Total revenue grew 14% year-over-year to S$163.5 million, driven primarily by increased contributions from the Heavy Lift and Haulage division.
However, gross profit expanded at a more modest 4% year-over-year pace to S$61.4 million as gross margins contracted from 41.2% to 37.6%.
Net income advanced 6% year-over-year to S$19.2 million.
TWC produced positive free cash flow of S$6.3 million, though this represented a decline from the previous fiscal year's S$13.7 million.
The company announced a final dividend payment of S$0.0175, exceeding the combined final and special dividend distributions of S$0.015 from the prior year.
Notwithstanding competitive pressures and persistent trade uncertainties, TWC maintains an optimistic perspective as client demand for its services is anticipated to remain stable.
Strategic regional markets including India, Thailand, and Saudi Arabia are expected to support this demand trajectory.
TWC plans to continue capitalizing on opportunities arising from construction, logistics, and petrochemical investment requirements.
ComfortDelGro Corporation
ComfortDelGro Corporation, known as CDG, functions as a transportation operator providing an extensive range of mobility solutions.
The organization delivers bus, rail, point-to-point, and taxi services across 13 countries worldwide.
During the first half of 2025 (1H 2025), revenue increased 14.4% year-over-year to S$2.4 billion, supported by contributions from CDG's acquisitions of A2B and Addison Lee completed in April and November 2024, respectively.
Operating profit surged 22.8% year-over-year to S$172.5 million, while net profit rose 11.2% year-over-year to S$106 million.
The transportation company announced an interim dividend of S$0.0391, representing an 11.1% year-over-year increase.
Singapore's rail revenue is expected to grow with consistent ridership expansion, while management awaits tender results for the Tampines bus package renewal.
In the United Kingdom, London public bus contracts are anticipated to be renewed with enhanced profit margins.
The company is also participating in the Liverpool public bus franchise tender and has submitted a proposal for the Copenhagen metro rail project alongside RATP Dev.
In Australia, CDG began operations in Victoria during July 2025, expanding its bus market presence to exceed 30%.
The organization is competing to operate and maintain Melbourne's metro lines beginning in 2027, partnering with a consortium that includes UGL Group, East Japan Railway.
PropNex
PropNex stands as Singapore's leading real estate agency, delivering comprehensive services encompassing real estate brokerage, training, and advisory services.
The firm operates a combined network exceeding 16,000 sales professionals across Singapore, Indonesia, Malaysia, Vietnam, Cambodia, and Australia.
PropNex reported exceptional financial performance for 1H 2025.
Revenue jumped 73.3% year-over-year to S$599 million, propelled by commission income from project marketing activities.
Net profit more than doubled year-over-year, reaching S$42.2 million compared to S$19 million previously.
The company also generated substantially higher free cash flow of S$45 million versus S$16.2 million in the comparable period.
An interim dividend of S$0.05 was declared for 1H 2025, more than doubling the S$0.0225 distributed in the previous year.
Moving forward, PropNex expresses confidence regarding the recovery in private residential sales as market sentiment and purchasing interest strengthen.
Recent Government Land Sales tenders have attracted increased developer participation, indicating restored market confidence.
CEO Kelvin Fong anticipates new home sales will recover in the third quarter of 2025, with over 3,400 new units (excluding executive condominiums) potentially entering the market during this period.
SBS Transit
SBS Transit, referred to as SBST, represents a prominent bus and rail operator in Singapore, managing approximately 200 bus routes with a fleet of 3,400 vehicles.
The company also operates rail services through the Northeast and Downtown MRT lines (NEL and DTL), with the combined bus and train network transporting over 3.5 million passengers daily.
SBST presented weaker financial results for 1H 2025, with revenue declining 4.5% year-over-year to S$745.9 million.
Operating profit decreased 1.7% year-over-year to S$34.1 million, while net profit fell 7.7% year-over-year to S$31.1 million.
The diminished performance resulted from the loss of SBST's Jurong West bus package in August 2024, partially offset by higher average rail tariffs.
Free cash flow turned strongly positive at S$29.1 million for 1H 2025, reversing the negative S$23.8 million recorded in the prior year.
SBST declared an interim dividend of S$0.0895, substantially higher than the S$0.0558 interim dividend paid previously.
Management anticipates rail operations revenue will increase through ridership growth and upward fare adjustments.
Nevertheless, bus operations revenue is expected to decline due to the full-year impact of losing the bus package.
The company's Tampines Bus Package expires in July 2026, and management has submitted a bid while awaiting tender results.