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Hidden Dividend Stars: 3 SGX Stocks with Growing Payouts and Zero Debt
By The Smart Investor  •  May 21, 2026
Dividend investors often fixate on yield. But yield alone can be misleading – a high payout means little if the company behind it is drowning in debt or burning through cash. The more telling combination is a clean balance sheet paired with a rising dividend. When a company carries zero debt and sits on a sizable cash reserve, its dividend doesn’t just survive economic turbulence – it has room to grow. Here are three SGX-listed stocks that tick both boxes.

HRnetGroup Limited (SGX: CHZ)

HRnetGroup is a leading recruitment and staffing firm operating across 18 Asian cities. The group’s Flexible Staffing segment accounts for nearly 90% of revenue, while Professional Recruitment punches above its weight, contributing 45.2% of gross profit from just 9.6% of revenue. For FY2025, revenue rose 3% year on year (YoY) to S$584.0 million, supported by a 5.6% increase in average monthly contractors to 16,421. Profit attributable to owners climbed 15% to S$51.2 million, boosted by tight cost discipline and a S$6.9 million...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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