This year (2025), if you’re thinking about generating passive income from stock investments, you should focus on truly good dividend stocks, not just those with high yields, because prices can drop sharply and trap investors. I’ve compiled a list of the top 10 interesting dividend stocks in the Thai market.

Starting with the most popular stocks: TISCO has been a favorite dividend stock among Thais for a long time. It pays consistently twice a year, approximately 7.75 baht per share for 2025. The stock price is 97.50 baht, offering a yield of about 7.95%. The figure isn’t huge but is solid and stable.

For those who prefer defensive stocks, DMT is a good choice. It’s a company that collects toll fees on Don Mueang elevated roads— a cash cow business that generates steady cash flow. The stock price is 9.70 baht, with a yield of 8.56%. Notably, the policy is to pay out at least 90% of net profit, making dividend forecasts very reliable.

Talking about dividend stocks in the real estate sector: AP and SIRI are both interesting. AP is very undervalued, with a P/E ratio of only 3.77 and a P/BV of 0.41. The price is 5.80 baht, with a yield of 7.35%. 13 out of 16 analysts recommend buying, seeing potential for profit from price differences. SIRI is also competitive, priced at 1.17 baht, with a yield of 8.72%. It has the lowest valuation, with a P/E of 4.47 and a P/BV of 0.43.

The group offering the highest yield is DIF, a infrastructure fund. It’s priced at 7.90 baht, with a yield of 11.25%. Its business involves providing services to TRUE and leasing telecom towers and fiber optic cables. Revenue is steady and predictable, but investors should watch out for refinancing risks, especially since debt maturities are in March this year.

For those who like trading stocks, MC is also attractive. It’s priced at 9.55 baht, with a yield of 8.26%. The company has a strong financial position, with a D/E ratio of only 0.51. All four analysts recommend buying, with an average target price of 12.55 baht.

For risk diversification in the financial sector, TCAP is a holding company investing in leasing, insurance, securities, and asset management. It’s priced at 46.00 baht, with a yield of 6.98%. Its valuation is appealing, with a P/E of 7.51 and a P/BV of 0.65.

Don’t forget DIF, which offers a high yield, and PTT, the national energy company. PTT is priced at 30.00 baht, with a yield of 7.05%. Despite challenges from the transition to clean energy, it still generates strong cash flow.

Most importantly, don’t just look at high yields. Examine the consistency of dividend payments over the past 3-5 years, the payout policy, business fundamentals, cash flow from operations, and dividend growth each year. If these factors are stable and the stock is reasonably priced, you can invest with confidence.

If you want to diversify outside the Thai market, U.S. dividend stocks are a good option. You can access global giants like Apple, Microsoft, Coca-Cola, which have decades of steady dividend payments. Some are called “Dividend Aristocrats,” paying increasing dividends for over 25 years, and paying dividends in dollars, which helps diversify currency risk.

Investing methods aren’t complicated: for Thai stocks, open an account with a securities company, transfer funds, analyze and select stocks, place orders via streaming, and wait for dividends. Alternatively, you can invest through mutual funds. For U.S. stocks, you can invest via mutual funds or CFDs offered by various brokers.

Ultimately, dividend stocks remain a classic and effective strategy for 2025, especially for those seeking cash flow and portfolio stability. The top 10 dividend stocks listed here are a good starting point, but it’s important to do further research and consider your own situation.