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Here’s a list of 3 high-quality companies that are paying dividends next week.
Gujarat Gas Limited
Gujarat Gas Ltd (NS:) is a mid-cap gas distribution company, with a market capitalization of INR 31,865 crore and trades at a TTM P/E ratio of 23.39. This utility company has been increasing its net income at an impressive yearly rate of 39.2% (past 5-year average) to a record-high profit of INR 1,528.38 crore in FY23.
The stock hasn’t participated in the broader market rally in the last 12 months and delivered a negative return of 8.4%. This could also be due to the fact that FIIs have consistently trimmed down their stake in this period, going from 5.18% to 4.47% in a year ended 30 June 2023. The management has announced a dividend of INR 6.65 per share, the ex-dividend date of which is 11 September 2023.
MSTC Limited
MSTC Ltd (NS:) is engaged in providing e-commerce-related services through e-auction, e-sales, etc. and has a market capitalization of INR 2,874 crore. The stock has shown a decent run-up in the last 12 months, delivering a return of 40.5%, despite which the TTM P/E ratio is at a low level of 12.06.
It is increasing its net income at a 5-year CAGR of 25.56% and FIIs have increased their stake multifold in this counter, from 0.31% to 1.09% in a year, ended 30 June 2023. The company has now announced a dividend of INR 3.2 per share, the ex-date of which is 12 September 2023. The stock is also trading at a good yield of 3.65%.
Indian Railway Finance Corp Limited
Indian Railway Finance Corp (NS:) primarily acts as the financing arm of the Indian Railways and has a market capitalization of INR 95,596 crore. The stock has delivered multibagger returns of 237.4% in just a year, just like most railway stocks, all thanks to the government’s push for this sector. Despite this rush to buy IRFC shares, the stock is still trading at a decent TTM P/E ratio of 15.34.
The company which clocked a total revenue of INR 6,940.17 crore in FY15 is now clocking a net income of INR 6,337.01 crore in FY23. It has announced a dividend of INR 0.7 per share, the ex-dividend date of which is 15 September 2023.
Webinar: How to catch potential midcaps before they turn to large caps
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