I see many high-dividend stocks in the Thai market, but the real question is which ones are truly sustainable. Today, I want to share 8 promising dividend stocks to watch in 2025, which I believe are interesting options for those seeking consistent returns.

Starting with DIF, a infrastructure fund that owns over 16,000 telecom towers. Its income comes from leasing to mobile phone companies, making its cash flow quite stable. The current dividend yield is 11.25%, which is very high, but caution is needed regarding refinancing maturing debt in the first quarter.

And what about TISCO? This stock is a symbol of steady dividends, paying twice a year. The latest price is 97.50 baht, with an approximate dividend yield of 7.95%. Most analysts recommend holding it because its strength lies in consistency rather than price growth.

In the real estate sector, AP and SIRI are valued very low. AP has a P/E ratio of only 3.77, indicating the price might be undervalued. 13 out of 16 analysts recommend buying SIRI, which is at 1.17 baht, with a P/BV of just 0.43, and an expected dividend yield of 8.72%, ranking among the top in the market.

For stocks with stable income, DMT (Don Mueang Tollway) is a good example. Its business is a cash cow that generates steady cash flow. It has a policy of paying dividends not less than 90% of net profit, making dividend forecasts reliable. The dividend yield is 8.56%.

MC, a clothing retail company, has very strong financials. Its D/E ratio is only 0.51. All four analysts recommend "buy," with an average target price of 12.55 baht. The expected dividend yield is 8.26%.

TCAP is a holding company investing in various financial businesses. Its P/E ratio is only 7.51, and P/BV is 0.65, indicating the stock is undervalued relative to book value. This type of holding reduces risk. The dividend yield is about 7%.

And PTT, a leader in energy, despite transitioning toward clean energy, still generates strong cash flow. Its dividend yield is 7.05%, with a P/E of 10.08.

But here’s an important reminder: a high dividend yield alone isn’t enough. You should look at the dividend payment history over at least 3-5 years, the payout policy, and ensure the payout ratio isn’t over 90-100%, as companies need to retain earnings for growth. Also, examine business fundamentals—whether the industry is growing, if debt levels are high, if operating cash flow is positive, and most importantly, whether the company has been increasing dividends per share consistently.

For those wanting to diversify away from the Thai market, high-dividend US stocks are also attractive. Leading companies like Apple, Microsoft, Coca-Cola have decades of consistent dividend payments. Some are Dividend Aristocrats, increasing dividends for over 25 years. Plus, receiving dividends in dollars helps diversify currency risk.

Investing in high-dividend Thai stocks is straightforward: open an account with a broker, transfer funds, and place orders via streaming. When dividends are paid, they are automatically credited to your bank account after a 10% tax deduction.

In summary, high-dividend stocks remain a classic strategy for generating steady income. But careful selection and thorough fundamental analysis are essential. These Thai high-dividend stocks are just a starting point. The key is to further study reliable sources to build a resilient and sustainable investment portfolio.