Here’s a look at the top three dividend-yielding stocks, which have ex-date between 21 and 30 September.
Top three dividend stocks
REC Limited
Dividend Yield: 1.07%
Ex-date: 16 September 2021
The power sector financing company has declared a dividend of ₹1.7 per share, which translates into a dividend yield of 1.07%. The ex-date for the dividend is September 16.
In the June quarter, the company’s total income jumped 18.5% year-on-year to ₹9,639 crore. In the same period, its net profit also rose 23% to ₹2,269 crore.
Polyplex Corporation
Dividend Yield: 1.09%
Ex-date: 24 September 2021
The leading plastic films manufacturer has announced a dividend of ₹17 per share. The dividend yield is 1.09% and the ex-date is 24 September. This means that investors would need to buy the stock by 24 September to be eligible for the dividend. In FY21, the company has declared a total dividend of ₹147 per share.
In Q1FY22, the company’s revenue rose by 24% year-on-year to ₹1,436 crore. But the net profit declined by 44% year-on-year to ₹186 crore.
SJVN Ltd
Dividend Yield: 1.50%
Ex-date: 21 September 2021
The government owned hydroelectric power generation company has declared a dividend of ₹0.4 per share. The dividend yield is 1.50% and the ex-date is 21 September 2021. To be eligible for the dividend, investors need to buy the stock by 20 September.
In the June quarter, the company’s revenue declined marginally by 1.6% to ₹662 crore. But the net profit rose by 12.8% to ₹342 crore.
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 ₹10 per share and its shares are currently trading at ₹100. 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 21 September as the ex-date for the dividend. It means investors need to hold or buy the stock before it (September 20).
Selection criteria
We have selected companies from the Nifty500 universe with a dividend yield of more than 1% with an ex-date between 21 and 30 September. And the dividend yield is calculated on the closing price of 8 September.