2020 was a mixed year for income investors. Some businesses paid out more dividends even as the pandemic wreaked havoc on Singapore’s economy. Other companies made preemptive decisions to limit payouts to preserve their balance sheet strength.. Fortunately, Singapore has probably seen the worst of the pandemic, even as the country transitioned to Phase III of its reopening on 28 December. But the challenges are not over yet. Countries around the world are still grappling with mounting death rates as a new strain of COVID-19 threatens a new wave of infections. Amid significant uncertainty, could income-driven investors see a respite this year? Will dividends be able to recover to their former glory?

Disbursing retention sums

First off, we take a look at the REITs sector. Many REITs in the retail, hospitality and commercial sectors had retained cash to disburse to needy tenants as part of their tenant relief measures. As a result,...