Investing in dividend paying stocks can be a lucrative option for investors. It allows them to generate a regular income stream while offering the potential for high capital appreciation. Listed companies in the stock markets announce the payments of dividends at specific intervals with a record date and an ex-dividend date.
To become eligible for the dividend payment, you need to hold the issuing company's shares on the record date. As we move towards the penultimate month of this year, several companies have already announced their dividends with their record dates in November 2023.
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Below is the list of the top five dividend-paying stocks in November 2023 in India:
Nestle India is a leading food-based company. Its primary products include dairy whitener, condensed milk, infant food, coffee, tea, noodles, and healthcare nutritional supplements. It also sells cooking aid products, including ketchup, seasonings, cereals, etc. The top brands under Nestle include Nescafe, Maggi, Kit Kat, Nestea, and Milkmaid.
Nestle has a rich history of distributing dividends to its customers, making it one of the best dividend-paying stocks in November 2023. The company announced an interim dividend on 3 October 2023 with the record date as 1 November 2023.
At market closing on 5 October 2023, the shares of Nestle India Limited were trading for Rs. 22,918.70 per share at the National Stock Exchange (NSE) and Rs. 22,883.05 per share at the Bombay Stock Exchange (BSE).
The second on this list of dividend-paying stocks in November 2023 is Asian Paints Limited. The company is engaged in the business of manufacturing and distribution of paints, coatings, home décor products, and bath fittings. It also offers interior designing, colour consultancy, and contractor finder services.
The company declared the payment of an interim dividend to its shareholders on 15 September 2023. The record date for the dividend payment has been set as 3 November 2023. As of 5 October 2023, the shares of Asian Paints Ltd. were available for Rs. 3,206.25 per share at the NSE and Rs. 3,203.00 per share at the BSE.
Procter & Gamble (P&G) Health is a pharmaceutical-based product manufacturing company. It supplies over-the-counter pharma products, including vitamins, minerals, and lifestyle-enhancement supplements. The top brands under the company include Cosome, Evion, Neurobion, Nasivion, Polybion, and Livogen.
The company announced a final dividend of 500% for its shareholders on 24 August 2023. The record date for the dividend payment has been set as 15 November 2023. At the face value of Rs. 10 per share, the shareholders will receive a dividend of Rs. 50 for every share they own by the record date.
As of 5 October 2023, P&G Health shares were trading for Rs. 5,058.70 per share at the NSE and Rs. 5.049.40 per share at the BSE.
Procter & Gamble Hygiene and Healthcare Limited (P&G) is the parent company of P&G Health. It is engaged in the business of manufacturing and marketing branded FMCG products, including ointment, creams, cough drops, tablets, napkins, sanitary pads, and deodorants. The top brands under the company include Whisper, Vicks, and Old Spice.
On 28 August 2023, the company announced a final dividend of 1050% for its shareholders by the record date of 18 November 2023. At the face value of Rs. 10 per share, you will receive a dividend of Rs. 105 for every equity share you own at the record date.
As of 5 October 2023, P&G shares were trading for Rs. 17,819.90 per share at the NSE and Rs. 17,837.95 at the BSE.
Gilette India is a leading player in India in the Fast-Moving Consumer Goods (FMCG) sector. Its products are primarily focused on providing grooming and oral-car solutions. The company’s product portfolio includes razors, blades, stylers, shaving gels and creams, and after-shave lotions. The top brands under the company include Wilkinson, 7 O’clock, and Vector, among others.
On 29 August 2023, the company announced a final dividend of 500% for its shareholders by the record date of 22 November 2023. As of 5 October 2023, Gilette India’s shares were trading for Rs. 6,281.70 per share at the NSE and Rs. 6,275.00 per share at the BSE.
You can invest in the dividend-paying stocks mentioned above only after thorough research. You can even consult with a financial advisor before making any investment decisions. If you need a Demat account to invest, you can get it for free with Motilal Oswal.