DBS Group (SGX: D05)
DBS needs no introduction, being the largest bank in Singapore by market capitalisation. The lender not only provides a comprehensive range of banking and investment services but has also demonstrated resilience during the pandemic years. In 2020, the Monetary Authority of Singapore (MAS) mandated that all banks reduce their dividend payouts to 60% of the preceding year....Although the pandemic is now behind us, many businesses had to struggle through those tough years as the world literally shut down.
Hence, it’s no surprise that most companies saw their profits and cash flows plunge during those dark days.
In many cases, dividends were either slashed or eliminated as these businesses strived to conserve cash.
There was, however, a small group of blue-chip stalwarts that managed to post three consecutive years of dividend increases.
We highlight four of these resilient stocks that you may wish to include in your buy watchlist.