Receiving dividends directly into your bank account is guaranteed to make you happy. But there is one thing even better – seeing the dividends from your stocks increase. Armed with the same number of shares, you can see your stream of passive income rise steadily over time. For this increase to happen, the company in question should enjoy higher profits and cash flows that will enable it to pay out more to its shareholders. Here are five Singapore stocks that recently upped their dividends by an impressive 20% or higher.

UMS Holdings Limited (SGX: 558)

UMS provides equipment manufacturing and engineering services to original equipment manufacturers (OEMs) of semiconductors and related products. For the first quarter of 2024 (1Q 2024), the group saw its revenue tumble by a third year on year to S$54 million because of weak demand within the semiconductor sector. Net profit plunged by 44% year on year to S$9.8 million....