3 Quality Shares Paying Dividends Next Week!

  • Stock Market Analysis

For all of you dividend lovers, here’s a list of 3 high-quality dividend-paying companies that are going ex-dividend next week.

Nelco Limited

Nelco (NS: NELC ) is an IT company that offers network communication solutions, having a market capitalization of INR 1,419 crores. Although the stock price remained almost flat for the year so far, down 4.9%, the company registered a record revenue in FY23, at INR 315.9 crores, a 19.2% YoY jump. In the last 9 months, FIIs have increased their stake from 3.34% in June 2022 to 4.41% in March 2023.

The company has announced a dividend of INR 2 per share, the ex-dividend date of which is 6 June 2023. The stock is currently trading at a dividend yield of 0.33% and has been a consistent dividend payer since 2019. The average payout ratio for the last three financial years is an okish 0.23.

Tata Power Company Limited

Tata Power Company (NS: TTPW ) is a well-known integrated power company engaged in the generation, transmission, distribution and trading of electricity, having a market capitalization of INR 68,795 crores. The company’s revenue jumped 50.05% YoY to INR 23,629.97 crores while the net income increased 17.43% to INR 3,267.9 crores.

Increased profit allowed the company to shell out INR 2 per share in dividends, the ex-date of which is 7 June 2023. The company has not skipped paying dividends in over a decade and has maintained a very good payout ratio of 0.65 (the last 3 years average). The current dividend yield of the stock is 0.97%.

Bikaji Foods International Limited

Bikaji Foods International (NS: BIKA ) is a recently-listed FMCG company that is known for its bhujiya, papad, and other snack items, having a market capitalization of INR 9,530 crores. The company is trading at an expensive P/E ratio of 74.13 but its FY23 record revenue of INR 1,980.78 crores should also not be ignored.

The company’s 64.9% YoY jump in FY23 net income to INR 128.5 crores led it to declare a dividend of INR 0.75 per share. The ex-dividend date of which is 8 June 2023 and currently, the stock is trading at a dividend yield of 0.2%.

Read More: 3 Small Caps that Remained on FIIs’ Buy List in Q4!

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