Some companies distribute the profits that they generate to their shareholders by way of dividends. These dividends are an additional (passive) source of income to the investors in addition to the capital appreciation that the company’s shares may experience over time. This is one of the reasons why investors often prefer to invest in dividend-paying companies.
With the end of FY23 near, now is the right time to invest in dividend-paying companies. Here are some of the top dividend-paying stocks in March 2023 that you can consider investing in.
Founded in 1973, Hinduja Global Solutions is a major IT services provider in India. The company provides technology consulting, consumer engagement and marketing services to some of the top global brands. On February 13, 2023, the company announced that it would pay an interim dividend of about 25% of its shares’ face value to all the shareholders who appear on its books on the record date of March 06, 2023. The Hinduja Global Solutions’ share price was Rs. 1,314.10 as of March 02, 2023.
Marico Limited is a major Fast Moving Consumer Goods (FMCG) manufacturer in India. The company is known for some of the most popular brands like Parachute, Saffola, Revive, Set Wet, and Chic. Marico has a major presence not only in India but in several other Asian and African nations as well. The company announced on February 17, 2023, that it would pay an interim dividend of 450% of its shares’ face value. This makes it one of the best dividend-paying stocks in March 2023. The record date for the dividend distribution has been notified as March 08, 2023. The share price of Marico was Rs. 499 as of March 02, 2023.
Established in 1995, SRU Steels Limited is in the business of trading different types of steel, steel products and iron. The company even has a franchisee of Jindal Steel & Power Limited solely for trading in steel. SRU Steels Limited has declared an interim dividend for the quarter that ended December 31, 2022.
The record date for the same has been fixed as March 20, 2023. However, the rate of dividend has not been disclosed as of now. This interim dividend would be the company’s first-ever dividend payout. As of March 02, 2023, SRU Steels Limited’s share price was Rs. 15.40.
CRISIL is one of the largest credit rating agencies in India. Established in 1987, the company provides research, ratings, risk advisory and policy advisory services to various listed and unlisted Indian companies. CRISIL is a subsidiary of the American multinational company S&P Global. The company declared a final dividend of 2,300% of its shares’ face value on February 17, 2023. The record date for the final dividend has also been notified as March 31, 2023. The share price of CRISIL as of March 02, 2023, was Rs. 3,482.85.
Coal India is another one of the best dividend-paying stocks in March 2023 that you can consider investing in. Owned by the government of India, the company is the largest coal producer in the entire world. It has over 83 different mining areas located in over 8 states and has been conferred the Maharatna status. Since 2004, Coal India has consistently been declaring dividends without fail year after year. The company is likely to continue the tradition of issuing dividends this year as well. Coal India’s share price was Rs. 222.85.
Since 1969, Taparia Tools has been in the business of manufacturing hand tools ranging from spanners and toolsets to clamps and pliers. Taparia Tools has declared an interim dividend for the quarter ending December 31, 2022. According to the announcement made by the company, the record date would be March 16, 2023. However, there isn’t any information regarding the rate of dividend that the company plans to pay. The share price of Taparia Tools as of March 02, 2023, was Rs. 10.50.
The above-mentioned companies are some of the best dividend-paying stocks in March 2023 that you can consider investing in. That said, before you invest, remember to always do your research. This will ensure that you take an investment decision that’s in line with your financial objectives.
Speaking of investing in stocks, a demat account is a mandatory requirement. If you don’t have one already, you will have to first open a demat account and a trading account. Visit the website of Motilal Oswal today to open a 2-in-1 account for free. The entire application process is digital and takes only a few minutes to complete. Once you’ve opened the account, you can not only invest in dividend-paying stocks of your choice but also in upcoming IPOs.