Three companies in the iEdge Singapore Next 50 index are handing out something extra to shareholders this September. Two declared interim dividends after skipping them entirely for the same period last year, while the third tacked on a special dividend right alongside its standard payout. The cash hits investor accounts either way, but smart investors always stop to ask where it actually came from. Free cash flow remains the lifeblood of any dividend, and a close look at the numbers shows each payout stems from a completely different source. In fact, only one of these three companies managed to fund its reward using cash generated directly by the business during the period.

Can UltraGreen.ai keep paying?

UltraGreen.ai (SGX: ULG) sells indocyanine green (ICG) dye along with related products that surgeons rely on during fluorescence-guided surgery. The company listed back in December 2025 and reports its numbers in US dollars. Revenue for the six months to 30 June 2026 (1H2026) climbed 24.3% year on year (YoY) to US$87.2 million....