Sheng Siong Group (SGX: OV8)
Sheng Siong is one of Singapore’s largest supermarket operators, with 93 stores across Singapore and China as at 31 March 2026. The retailer had a good FY2025. Revenue rose 9.9% year on year (YoY) to S$1.57 billion, fuelled by 12 new store openings – its biggest expansion since 2018. Gross margin improved from 30.5% to 31.3% as the group sold more house-brand products....What gives a company’s board the confidence to raise dividends?
There are many possible answers.
But one of the most overlooked is a simple one: having zero debt on the balance sheet.
Think about it. When a company owes nothing to creditors, every dollar of cash it generates belongs to shareholders. There are no interest payments eating into profits. No loan repayments draining the coffers.
Management can focus on growing the business – and rewarding those who own it.
Here are three SGX-listed stocks that carry zero debt, sit on sizable cash piles, and raised their dividends for FY2025.
