3 Stocks Giving Dividends this Week!

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As the result season is going on, this is the time when companies also declare dividends. For dividend lovers, they might want to keep a track of high-yield companies that have declared dividends and their ex-dividend dates. To help you, here I have listed 3 companies that are going ex-dividend this week and their dividend yields are over 4%, in case you plan to add them to your dividend portfolio.

Nippon Life India Asset Managemtent  

Nippon Life India Asset Management is a small-cap asset management company with a market capitalization of INR 16,976 crores. The company has declared an interim dividend of INR 4 per share, the ex-date of which is 1 November 2022.

The stock is already trading at a dividend yield of 4.07%, having declared a total dividend of INR 11 per share in FY22, with a payout ratio of a massive 0.92, the highest since FY14. This means, that the company distributed 92% of its net profits to shareholders via dividends.

Shree Digvijay Cement Co Limited

Shree Digvijay Cement Co (BO:SRDC) is a cement manufacturer with a market capitalization of INR 960 crores. Despite a 63% QoQ hit to net earnings of INR 6.33 crores in Q2 FY23, the company announced a dividend of INR 1.5 per share, the ex-date of which is 1 November 2022.

In FY22, the company increased its dividend payout by 40% to INR 3.5 per share, compared to INR 2.5 per share in FY21 and the payout ratio stood at a good 0.91. The dividend yield of the stock stands at 5.25%.  

Indian Metals and Ferro Alloys Ltd

Indian Metals and Ferro Alloys is in the business of producing ferro chrome/ferro alloys. The company has a market capitalization of INR 1,301 crores and is trading at a P/E ratio of only 2.57, making it a good option for value seekers.

The company declared an interim dividend of INR 5 per share and the ex-dividend date is 3 November 2022. The dividend yield of the stock is 5.18%, having paid a total of INR 12.5 per share of dividend in FY22. However, the payout ratio has remained low, at 0.16 and 0.13 in FY21 and FY22, respectively. 

 

Investors need to note that dividend yields should not be the only criterion to invest in a  company. Also, the yields could vastly be influenced by movement in the share price and/or a one-time windfall profit or a severe loss.  

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