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2 Stocks Paying Dividends Next Week

Published 31-03-2024, 05:24 pm

1. Ashok Leyland (NS:ASOK) Limited, a leading commercial vehicle manufacturer, is offering a dividend of INR 4.95 per share with a 4.4% yield, backed by a robust financial performance and a consistent dividend increase over the past four years.
2. Varun Beverages Limited, a PepsiCo (NASDAQ:PEP) franchisee, presents an opportunity for both dividend income and capital appreciation, with a dividend payout of INR 1.25 per share and a remarkable 953% return over the last five years, despite a modest dividend yield of 0.18%.
3. Investors can access detailed dividend-related information, including payout dates, dividend history, and yield charts, through InvestingPro+ by clicking here, which is currently available at a discounted rate of 69%, offering an attractive opportunity to enhance investment strategies.

Dividend lovers who are looking for high-quality companies with a good dividend history might want to look at the below-mentioned stocks that are going ex-dividend next week.

Ashok Leyland Limited

Ashok Leyland manufactures and sells commercial vehicles in India and internationally, and has a market capitalization of INR 50,284 crore. FIIs have a very strong interest in the company and hold a stake of 20.49%, as of December 2023, which is the highest since the September 2022 quarter, at least.

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In Q3 FY24, the company reported a 6.7% YoY growth in revenue but the net profit jumped by 75.5% YoY to INR 560.21 crore. On the back of healthy profitability, the management declared a dividend of INR 4.95 per share, the ex-date of which is 3 April 2024. At the current price, the stock is trading at a good yield of 4.4%.

When scouting through ProTips for additional information, it came to the surface that the company has raised dividends for the last 4 consecutive years. This is a big positive for any dividend portfolio.

Varun Beverages Limited

Varun Beverages operates as the franchisee of carbonated soft drinks and non-carbonated beverages sold under trademarks owned by PepsiCo and has a market capitalization of INR 1,8,1732 crore. The stock has delivered a gigantic return of 953% over the last 5 years, all thanks to its exponential increase in profits.

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Although the dividend yield is low, at 0.18%, the company never skipped paying dividends since FY17 and has raised payouts consecutively over the last 3 years. Instead of only dividends, the stock offers a great potential for capital appreciation but seems overvalued at the current valuation.

The next payout of INR 1.25 per share has been announced, the ex-dividend date of which is 4 April 2024.

You can look for more detailed information regarding dividends such as the next payout date, dividend history, yield charts, etc. for any stock in your portfolio. Tons of other features can also be explored in InvestingPro+ now at a mouth-watering discount of 69%. This limited-time offer might be the only thing you require to level up your investing game. Hurry up and grab the offer today by clicking here!

X (formerly, Twitter) - Aayush Khanna

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