High Dividend Yield Stocks in FY 2023-24 Revealed

High Dividend Yield Stocks in FY 2023-24 Revealed

VoM News Desk | May 8, 2024 | 01:18 PM IST | Breaking News | Follow on Google News

High Dividend Yield Stocks in FY 2023-24 Revealed

High Dividend Yield Stocks in FY 2023-24 Revealed

Key Highlights:

1. Nirlon Ltd, Castrol India Ltd, and Coal India Ltd offer dividend yields over 5%.
2. Power Grid Corporation, HCL Tech, and others also provide dividends above 3%.
3. IDBI Capital’s report highlights dividend-paying companies meeting specific criteria.

Companies like Nirlon Ltd, Castrol India Ltd, and Coal India Ltd stand out for providing dividend yields exceeding 5% in the recently concluded financial year 2023-24, according to a report by IDBI Capital. Additionally, Power Grid Corporation, HCL Technologies, and several others offer dividends above 3%.

The dividend yield ratio showcases the percentage of dividends paid out relative to a company’s stock price. Nirlon Limited, specializing in industrial park development, boasts a market cap of Rs 4,040 crore, as per BSE data.

IDBI Capital’s report outlines criteria for companies considered, including market cap exceeding 800 crores, dividend yield surpassing 3%, profitable status over the past three years, and a five-year average ROE exceeding 9%. The report underscores that it’s a record of dividend declarations and doesn’t constitute investment advice.

IDBI Capital emphasizes that the report doesn’t account for individual investment objectives or financial conditions and should not be construed as a recommendation to buy, sell, or invest in any securities or investment products.

Source: ANI

VoM News Desk

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