On September 12, Singapore's Straits Times Index (SGX: ^STI) climbed to a 52-week high, reaching its highest level since 2018. The rise was mainly driven by a number of blue-chip stocks covering a variety of industries such as aviation, banking and telecommunications, many of which also provide dividends. Here are three blue-chip stocks that have performed well this year.

Yangzijiang Shipbuilding (SGX: BS6)

Yangzijiang Shipbuilding (YZJ) has performed very well this year, with a 61% increase in its stock price. The Chinese shipbuilder has four shipyards in Jiangsu Province and produces a variety of commercial vessels, including large container ships, bulk carriers and liquefied natural gas (LNG) carriers.

In the first half of 2024, Yangzijiang Shipbuilding's revenue increased by 15.3% year-on-year to approximately RMB 23.1 billion, and gross profit increased by 65.1% year-on-year to RMB 3.5 billion, mainly benefiting from favorable exchange rates and pricing factors. Net profit surged by more than 77% year-on-year to more than RMB 3 billion.

High profits have enabled the company to generate RMB6.6 billion in free cash flow in 1H'24, more than three times the RMB2.2 billion in the same period last year. Despite no interim dividend being paid in the first half of the year, the company declared a final dividend of S$0.065 per share in 2023, a 30% increase from S$0.05 in the previous year. Based on a share price of S$2.48, the dividend yield is 2.6%.

Yangzijiang Shipbuilding continues to see an increase in its order book, which is expected to grow further. During the reporting period, the company secured 79 new orders worth US$8.5 billion, of which 79% were for clean energy vessel demand. By the end of the first half of 2024, the company's total backlog reached a record US$20.2 billion, covering 224 ships, providing the company with earnings visibility until mid-2028.

To support future growth, the company plans to invest approximately RMB3 billion over the next two years to expand its Yangzi Xinfu Shipyard to produce clean energy vessels. In addition, the company will invest RMB 1 billion to transform the chemical terminal along the Yangtze River into an LNG terminal, making it a comprehensive LNG hub with integrated storage and distribution capabilities.

SATS (SGX: S58)

SATS (SATS) is also one of the stocks that have performed well this year, with its share price rising 34.2%. The Singaporean company is known for its airline catering services, but it also provides a variety of ground handling, cargo and food services.

SATS' revenue increased 15.5% year-on-year to S$1.37 billion in the first quarter of fiscal year 2025, mainly benefiting from the growth of air cargo volume and the increase in demand for in-flight catering. Net profit was S$65 million, a significant reversal from a net loss of S$29.9 million in the same period last year. During the reporting period, SATS' operating cash flow was S$164.2 million and free cash flow was S$36.7 million.

Although no dividend was paid, if the company continues to maintain good performance, dividends are expected to increase in fiscal year 2025. To provide context, the company resumed dividend payments suspended during the pandemic in FY2024 and declared a final dividend of S$0.015 per share for FY2024. At a share price of S$3.69, the current dividend yield is 0.4%.

The group expects "positive momentum" to remain in the coming quarters due to increased air freight demand caused by port congestion. Asia leads global air cargo and passenger growth, with the region expected to account for half of global revenue kilometers in 2024, according to the International Air Transport Association (IATA).

Singtel (SGX: Z74)

Shares of Singapore Telecommunications (Singtel) have risen nearly 34% this year. As Singapore's largest telecommunications company, Singtel shares closed at S$3.28 yesterday, close to their all-time highs, with a current dividend yield of 4.6%.

In the first quarter of FY2025, the company's operating income fell 2.1% year-on-year to S$3.4 billion, mainly due to weak performance of Optus and its local business in Singapore. However, growth in NCS and Digital InfraCo partially offset this impact.

Despite the decline in revenue, Singtel's operating profit increased 27.4% year-on-year to S$382 million. Excluding the impact of the earlier divestiture of Trustwave, the underlying operating profit increased 16.1%. The company's net profit increased nearly 43% to S$690 million, mainly driven by strong performance in certain divisions. However, the core underlying net profit only increased 5.4% year-on-year to S$603 million.

Overall, Singtel's performance was relatively positive. Despite the challenges in the African market