3 Stocks Paying Dividends Next Week!

For all of you divided lovers, here’s a list of 3 high-quality stocks that are shelling out dividends next week.

Bank of Maharashtra Limited

Bank of Maharashtra Ltd (NS: BMBK ) is a small-cap public-sector bank with a market capitalization of INR 20,999 crores. It posted a record FY23 revenue of INR 18,179.53 crores which translated into a net income of INR 2,062.79 crores. Profit margins surged to the highest level since FY15, at 3.87%.

Looking at the bank’s performance, FIIs have ramped up their stake to 0.26%, which is the highest since the December 2021 quarter, at least. With the recent earnings, it also announced a dividend of INR 1.3 per share, the ex-dividend date of which is 23 May 2023. Despite a massive run-up of 94% in the last 12 months, the stock is still trading at a lucrative P/E ratio of 8.07.

Great Eastern Shipping Company Limited

Great Eastern Shipping Co. Ltd. (NS: GESC ) is engaged in the business of providing shipping services like transportation of crude oil , petroleum products, gas and dry bulk commodities, having a market capitalization of INR 10,068 crores. The company ended FY23 with a 68.1% YoY revenue jump to INR 6,171.14 crores however, profit jumped more than 4 times to INR 2,575.01 crores as the company’s net profit margins improve to a massive 41.73%.

It has declared a dividend of INR 9 per share and the ex-dividend date is 24 May 2023. The company is also trading at a good dividend yield of 4.26%, making it suitable for small-cap dividend portfolios.

Manappuram Finance Limited

Manappuram Finance Ltd (NS: MNFL ) is a well-known consumer finance company with a market capitalization of INR 9,449 crores. The company has been growing its revenue at a 5-year CAGR of 12.44% to INR 6,749.95 crores in FY23, while net income jumped to INR 14,95.97 crores, 12.6% higher than INR 1,328.45 crores in the previous year.

With the earnings update, Manappuram Finance declared a dividend of 0.75 per share, the ex-dividend date of which is 24 May 2023 and the stock is currently trident at a dividend yield of 2.73%. FIIs have ramped up their stake in the company to 0.26% which is the highest in over a year.

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