3 Stocks Paying Handsome Dividends Next Week!

Here’s a list of 3 high-quality stocks that are paying handsome dividends next week.

REC Limited

REC Ltd (NS:) (formerly, Rural Electrification Corporation Limited) is a specialized finance company that caters to the financial needs of the power sector in India, having a market capitalization of INR 57,035 crore. The stock trades at a mouth-watering TTM P/E ratio of 4.88, despite a gigantic 118% rally in the last 12 months.

The stock surprised the street on Friday after MSCI included it in its Global Standard Indices amid the latest rejig. After a one-way rally, the dividend yield has dropped to 6.95%, however, it still comes very close to FD rates. The stock is giving a dividend of INR 3 per share, the ex-dividend date of which is 14 August 2023.

Great Eastern Shipping Company Limited

Great Eastern Shipping Co. Ltd. (NS:) provides shipping services for the transportation of , gas, etc., having a market capitalization of INR 10,846 crore. This counter trades at a TTM P/E ratio of 4.03, making it one of the best undervalued stocks in the small-cap space. It is interesting to note that FIIs hold a 26.18% stake in such a small company.

The company is known for its handsome dividends and is currently trading at a yield of 4.75%. It has announced the next payout of INR 7.5 per share, the ex-dividend date of which is 16 August 2023. The company’s 26.09% YoY net profit jump in Q1 FY24 to INR 576.27 crore is also confidence-building.

Coal India Limited

Coal India Ltd (NS:) is a coal mining giant in India, with a market capitalization of INR 1,44,762 crore. The company’s Q1 FY24 profit of INR 7,971.04 crore was a 44% QoQ jump which was impressive. For the last one year, the stock has more or less been moving in a range, therefore, the TTM P/E hasn’t increased, at 5.3, making it the cheapest company.

The dividend yield of Coal India is not hidden from anyone, which is a gigantic 10.32%, the highest among all Nifty 50 constituents. The company has announced the next payout of INR 4 per share, the ex-dividend date of which is 18 August 2023 and it has never skipped paying dividends in over a decade.

Disclosure: I hold REC shares in my portfolio.

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