Introducing the SETHD Index: 30 Leading Thai Dividend Stocks and the 3 New Entrants BA-KTC-TOA for the Second Half of 2026

It is well known in the investment community that a key attraction of the Thai stock market, drawing both domestic and foreign investors, is its "dividend payments," which offer impressive returns.

In 2025, the year stood out significantly, with 581 listed companies on the Thai stock market paying dividends a total of 838 times, amounting to dividend payments worth 651.239 billion baht—a record high.

With hundreds of Thai stocks available, how do we begin selecting dividend stocks for a portfolio? Thairath Money introduces one popular tool investors use as a starting point for research: the SETHD Index.

This index aggregates 30 large-cap stocks with high liquidity and a strong dividend payment history, making it easier for investors to study these stocks before deciding on long-term portfolio allocations.

What is the SETHD Index?

The SETHD Index, or SET High Dividend 30 Index, reflects the price movements of securities with high market capitalization, consistently strong liquidity, and most importantly, a high and continuous dividend yield.

Currently, the SETHD Index selects a total of 30 securities as its components for calculation.

To qualify as one of the top 30 dividend stocks in the SETHD Index, the Stock Exchange of Thailand (SET) has established several strict criteria, including:

• The stock must be large-cap with high liquidity and be a component of the SET100 Index during the same review period.
• It must pay dividends continuously, with a record of paying dividends for at least three consecutive years (excluding special dividends).
• The dividend payout ratio must be appropriate, with no negative payout ratios annually, and the three-year average payout ratio must not exceed 100%.
• The stock must offer a high dividend yield, ranking among the top in the market (selecting until 30 securities are chosen).
• It must be regularly traded and not suspended from trading (marked with SP) for extended periods.

Watch for 3 New Stocks Entering the SETHD Index

Recently, the SET announced the results of the new component selection. For the SETHD Index calculation period from 1 July to 31 December 2026, three stocks stood out and were added as new members:

• Bangkok Airways Public Company Limited (BA)
• Krungthai Card Public Company Limited (KTC)
• TOA Paint (Thailand) Public Company Limited (TOA)

The inclusion of these notable stocks confirms that these companies have maintained excellent and continuous dividend payment records alongside meeting high market capitalization and liquidity criteria.

These leading stocks are must-consider options for dividend-focused investors or those seeking passive income, encouraging further research to prepare investment portfolios for the second half of 2026.

Who are the Members of the New SETHD Index?

The list of 30 stocks comprising the SETHD Index for the calculation period from 1 July to 31 December 2026, arranged alphabetically, is as follows:

1. AEONTS (AEON Thana Sinsap (Thailand) Public Company Limited)

2. AMATA (Amata Corporation Public Company Limited)

3. AP (AP (Thailand) Public Company Limited)

4. BA (Bangkok Airways Public Company Limited) - New entrant

5. BAM (Bangkok Commercial Asset Management Public Company Limited)

6. BBL (Bangkok Bank)

7. HMPRO (Home Product Center Public Company Limited)

8. JMT (JMT Network Services Public Company Limited)

9. KBANK (Kasikornbank)

10. KKP (Kiatnakin Phatra Bank)

11. KTB (Krung Thai Bank)

12. KTC (Krungthai Card Public Company Limited) - New entrant

13. LH (Land and Houses Public Company Limited)

14. M (MK Restaurant Group Public Company Limited)

15. MEGA (Mega Lifesciences Public Company Limited)

16. PRM (Prima Marine Public Company Limited)

17. PTT (PTT Public Company Limited)

18. PTTEP (PTT Exploration and Production Public Company Limited)

19. QH (Quality Houses Public Company Limited)

20. RATCH (Ratch Group Public Company Limited)

21. RCL (RCL Public Company Limited)

22. SCB (SCB X Public Company Limited)

23. SIRI (Sansiri Public Company Limited)

24. SPALI (Supalai Public Company Limited)

25. TCAP (Thanachart Capital Public Company Limited)

26. TISCO (TISCO Financial Group Public Company Limited)

27. TLI (Thai Life Insurance Public Company Limited)

28. TOA (TOA Paint (Thailand) Public Company Limited) - New entrant

29. TTB (TMBThanachart Bank)

30. WHA (WHA Corporation Public Company Limited)

However, in this calculation cycle, three stocks were removed from the index: KCE, TASCO, and TOP.

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