Here’s a look at the top four dividend-yielding stocks, which have ex-date between 11 and 20 September.
Mahanagar Gas Limited
Dividend Yield: 1.2%
Ex-date: 17 September 2021
The natural gas distribution company has declared a dividend of ₹14 per share, which translates into a dividend yield of 1.2%. The ex-date for the dividend is September 17.
In the June quarter, the company’s revenue jumped 140% year-on-year to ₹666 crore. In the same period, its net profit also rose 351% to ₹204 crore.
Gujarat Alkalies and Chemicals
Dividend Yield: 1.7%
Ex-date: 15 September 2021
The chemical manufacturer has announced a dividend of ₹8 per share. The dividend yield is 1.7% and the ex-date is 15 September. This means that investors would need to buy the stock by 14 September to be eligible for the dividend. The company has been consistently declaring a dividend of ₹8 per share over the past two years.
In Q1FY22, the company’s revenue rose by 52% year-on-year to ₹716 crore. Also, its net profit soared by 98% year-on-year to ₹63 crore.
LIC Housing Finance
Dividend Yield: 2.1%
Ex-date: 16 September 2021
The housing finance company has declared a dividend of ₹8.5 per share. The dividend yield is 2.1% and the ex-date is 16 September 2021. To be eligible for the dividend, investors need to buy the stock by 15 September. Also, the company had announced a dividend of ₹8.5 per share last year.
In the June quarter, the lender’s net interest income rose 4.5% to ₹1,275 crore. But the net profit dropped by 81% to ₹153 crore.
Balmer Lawrie & Company
Dividend Yield: 4.6%
Ex-date: 20 September 2021
The government-owned conglomerate has declared a dividend of ₹6 per share, which translates into a dividend yield of 4.6%. The company has a well-diversified presence in sectors such as industrial packaging, greases and lubricants, logistics, travel, and refinery and oil field services.
Meanwhile, in the first quarter of FY22, the company’s revenue rose by 76% to ₹486 crore. In Q1FY22, the company reported a net profit of ₹36 crore in comparison to a loss of ₹5 crore in the same period last year.
Good to know
What is dividend yield?
Dividend yield reveals how much dividend a company is paying in relation to its stock price or per share. It is calculated by dividing the amount of dividend per share declared by the company with the current stock price. For instance, if a company declared a dividend of ₹8 per share and its shares are currently trading at ₹80. Then the dividend yield would be 10%. The higher the dividend yield, the higher the return on investment.
What is an ex-date?
The ex-date is the cutoff point for investors to be eligible for the dividend. Assume that a company declares 10 September as the ex-date for the dividend. It means investors need to hold or buy the stock before it (September 9).
Selection criteria
We have selected companies from the Nifty500 universe with a dividend yield of more than 1% with an ex-date between 11 and 20 September. And the dividend yield is calculated on the closing price of 30 August.
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