What happened?
Singapore stocks have been pushing higher in early 2026.
The Straits Times Index has climbed to fresh records of above 5,000 points in recent weeks.
In January, the 3 best-performing Singapore blue chip stocks were companies in the property sector, including UOL, Hongkong Land and City Developments.
We have also seen other blue chip stocks reaching new all time highs, as sentiment towards Singapore stocks improve, and dividends continue to be raised.
This has led to questions in the Beansprout community about whether it is still worthwhile owning Singapore blue chip stocks for dividend income.
In this article, I will look at three Singapore blue chip stocks that are trading near all time highs in February 2026. I will also find out if their dividend yields remain attractive after the rally.
3 Singapore blue chip stocks near all time highs
#1 – Singtel (SGX: Z74)
Singtel is Singapore’s largest telecommunications company and a leading communications technology group in Asia, with stakes in regional mobile operators including Bharti Airtel in India, Telkomsel in Indonesia, Globe Telecom in the Philippines, and AIS in Thailand.
Singtel’s share price reached an all time high of S$5.10 before closing at S$5.04 on 20 February 2026.
For the third quarter ended 31 December 2025, Singtel reported stable operating revenue of S$3.66 billion and stable EBITDA of S$939 million.
Operating company EBIT rose 5.3% to S$362 million, driven by stronger contributions from NCS and Optus, which helped offset weaker performance in Singtel Singapore.
Singtel’s underlying net profit increased 9.5% year on year to S$744 million, mainly due to stronger results from its regional associates led by Airtel and AIS.
Net profit rose more sharply to S$1.89 billion, as Singtel booked a net exceptional gain of S$1.15 billion. This was primarily from the sale of a partial stake in Airtel.
Singtel also highlighted continued progress in its growth engines.
NCS recorded stronger operating momentum, with revenue rising and profitability improving. Digital InfraCo continued to expand, supported by higher contributions from data centre services and its RE:AI business.
A key driver for the stock was Singtel’s continued progress on its S$9 billion medium-term capital recycling target.
In November 2025, it sold a further 0.8% stake in Airtel for approximately S$1.5 billion, generating an estimated gain of S$1.1 billion. Its effective stake in Airtel fell to 27.3% after the transaction.
This transaction was part of Singtel’s broader medium-term asset recycling plan, and the company has already realised around S$5.6 billion since April 2024 toward its ~S$9 billion target.
Singtel also shared that Digital InfraCo secured 280MW of power commitment for a data centre in Johor, and that its Tuas data centre had more than 90% of capacity pre-sold, highlighting demand for AI-ready digital infrastructure.
In February 2026, Singtel announced a major transaction together with KKR, to take full control of data centre operator ST Telemedia Global Data Centres (STT GDC) in a deal that pegs STT GDC’s enterprise value at S$13.8 billion.
Following completion, Singtel will hold a 25% stake in the enlarged entity.
Management stated that there is no impact on its existing dividend policy from this acquisition, and reaffirmed its capital return and growth funding framework under Singtel28.
This includes a Value Realisation Dividend (VRD) of up to S$5 billion, which supports 3 to 6 cents per share per year and provides visibility for the next five years, as well as a Value Realisation Share Buyback (VRSB) of up to S$2 billion over three years.
Singtel also indicated that around S$2 billion is set aside for growth initiatives, including funding the S$740 million consideration for the STT GDC acquisition.
Singtel continues to return capital to shareholders through its dividend framework, supported by operating cash flows and capital recycling.
Based on Singtel’s share price of S$5.04 as of 20 February 2026, and a FY2026 dividend estimate of S$0.181 per share according to Factset, Singtel offers a forward dividend yield of approximately 3.6%.
Find out how much dividends you would have received as a shareholder of Singapore Telecommunication Limited (Singtel) in the past 12 months with the calculator below.
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#2 – OCBC (SGX: O39)
OCBC is one of Singapore’s largest banks, offering a full range of consumer, corporate and wealth management services across the region.
