Introduction
Focusing on dividend-paying stocks may be a great strategy if you're interested in earning regular income from your investments. Dividends are payments companies make to their shareholders, showing their financial strength and willingness to share profits. As August 2024 approaches, several promising Indian companies are set to announce dividends.
This article will highlight the top dividend-paying stocks to watch in the coming month, helping you make smart investment decisions and boost your returns.
1. ABSL AMC
Aditya Birla Sun Life Asset Management Company Ltd., now known as Aditya Birla Sun Life AMC Ltd., is a prominent investment management firm registered with the Securities and Exchange Board of India (SEBI). It is a joint venture between Aditya Birla Capital of India and Sun Life Financial Inc. of Canada.
Since November 3, 2021, Aditya Birla Sun Life AMC has declared five dividends. For the fiscal year ending March 2024, the company announced an equity dividend of 270%, which translates to Rs 13.5 per share. This represents the company's most recent dividend declaration for the fiscal year ending March 2024.
2. Divis Laboratories Ltd.
Divis Laboratories Limited is a leading Indian multinational pharmaceutical company based in Hyderabad. It specialises in the production of active pharmaceutical ingredients (APIs) and intermediates. The company manufactures and customises generic APIs and intermediates. Divis Laboratories has a strong track record of dividend payments, consistently declaring dividends over the past five years.
For the fiscal year ending March 2024, Divi's Laboratories has announced an impressive equity dividend of 1500%, which amounts to Rs 30 per share.
3. Cipla Ltd.
Cipla Limited, based in Mumbai, is a prominent Indian multinational pharmaceutical company known for developing treatments for a variety of conditions, such as respiratory and cardiovascular diseases, arthritis, diabetes, and depression. The company has built a solid reputation for dividend payments, consistently declaring dividends over the last five years. Additionally, since August 6, 2001, Cipla Ltd. has issued 26 dividends, reflecting its ongoing commitment to rewarding shareholders.
For the fiscal year ending March 2024, Cipla has announced an equity dividend of 650%, which equates to Rs 13 per share.
4. Jubilant Pharmova Limited
Jubilant Pharmova Limited, previously known as Jubilant Life Sciences Limited, is a global player involved in diverse sectors including Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics, and Proprietary Novel Drugs. The company boasts a strong track record in dividend payments, consistently declaring dividends over the past five years. Since August 28, 2001, Jubilant Pharmova Ltd. has declared 24 dividends. In the past 12 months alone, the company has issued a dividend of Rs 5 per share, maintaining a dividend yield of 0.70% based on the current share price of Rs 715.60.
For the fiscal year ending March 2024, Jubilant Pharmova has announced an equity dividend of 500%, translating to Rs 5 per share.
5. Jubilant Ingrevia Ltd.
Jubilant Ingrevia is a global, integrated provider of life science products and innovative solutions catering to the pharmaceutical, nutrition, agrochemical, consumer, and industrial sectors. The company offers customised products and solutions that are innovative, cost-effective, and of superior quality. The company has a solid track record of dividend payments, consistently declaring dividends over the past five years. Since August 5, 2021, Jubilant Ingrevia Ltd. has declared seven dividends. In the past 12 months alone, the company has announced a total dividend of Rs 5 per share, maintaining a dividend yield of 0.90%, with the current share price at Rs 556.75.
For the fiscal year ending March 2024, Jubilant Ingrevia has declared an equity dividend of 500%, amounting to Rs 5 per share.
6. Albert David Ltd.
Albert David Limited (ADL), a distinguished pharmaceutical company based in Kolkata, India, specialises in manufacturing pharmaceutical formulations, infusion solutions, herbal dosage forms, and bulk drugs. The company is part of the renowned "Kothari Group in India." Albert David Ltd. has a robust dividend history, having declared 24 dividends since July 3, 2001. In the past year, the company has declared an equity dividend of ₹9.00 per share. The current share price at ₹1199.35 yields a dividend rate of 0.75%.
For the fiscal year ending March 2024, Albert David has announced an equity dividend of 115%, amounting to ₹11.5 per share.
In conclusion, these are the top dividend-paying stocks in India for August 2024. By investing in these companies before their respective record dates, you can receive dividend income directly in your bank account. However, evaluating your investment objectives, risk tolerance, and current market conditions is vital before making any investment decisions.
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