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Soon after the earnings season, investors’ focus turns toward the dividend calendar. For all of you dividend seekers, here’s a list of 3 high-dividend-paying companies (annual yield of over 3%) that are cheering investors with handsome payouts next week.
ICICI Securities Limited
ICICI Securities Ltd (NS:) is a stock broking firm with a market capitalization of INR 20,048 crore. The company’s Q1 FY24 revenue jumped 17.5% YoY to INR 934.44 crore, however, the net income declined 1% to INR 270.84 crore. Its retail market share in the cash segment has increased to 12.2%, from 9.7% a year ago.
However, the derivative segment is the growing focus for all brokers currently, and this broker received 38% higher (YoY) F&O orders this quarter and F&O clients as well increased by 16% YoY. The management has announced a dividend of INR 9.25 per share, the ex-dividend date of which is 22 August 2023. The current yield of the stock is 3.07%.
Brookfield India Real Estate Trust REIT
Brookfield India Real Estate Trust (NS:) is one of the few listed REITs on the NSE which owns and operates commercial real estate assets for rental income. It has committed to purchasing a 50% stake in two large commercial properties (totaling 6.5 million square feet), which is expected to bolster its operating area by 44% to 20.6 MSF.
Currently, the company has 74 office tenants which will increase to 136 after the acquisition. The stock is trading at a healthy dividend yield of 7.34% and the next distribution of INR 3.85 per unit has been announced, the ex-dividend date of which is 23 August 2023.
Oil India Limited
Oil India Ltd (NS:) is a Maharatna company that is engaged in the business of exploration and production of oil and has a market capitalization of INR 31,290 crore, making it the second-largest of its kind in India. Its administration comes under the Ministry of Petroleum and Natural Gas.
The stock has delivered a 52.3% return in the last 12 months, despite which it is trading at a mouth-watering dividend yield of 8.67%, even higher than its larger peer ONGC’s 6.33% yield. The management has declared a dividend of INR 5.5 per share, the ex-dividend date of which is 25 August 2023.
Read More: F&O Stock Makes ‘Triple Top’ at ATH; Time for a Correction?
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