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Dividend Paying Stocks in October 2023

03 Oct 2023


Investors in India have long sought reliable sources of income, and dividend-paying stocks have been a favoured choice. These stocks offer the potential for capital appreciation and regular payouts in the form of dividends.

As we enter October 2023, keeping an eye on dividend-paying stocks that can offer stability and additional income is crucial. In this article, you will find a list of dividend-paying stocks in India in October 2023 worth considering for your investment portfolio.

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List of Dividend Paying Stocks in October 2023

Below are the companies that have declared dividends for their shareholders in October 2023:

Accelya Solutions India Limited

Accelya Solutions India Limited is one of the leading solutions providers to global airlines, logistics, and travel industries. The company's service portfolio can be classified into two segments – IT Services and Business Process Outsourcing Services (BPO).

The IT services include software processes, managed processes, application development and maintenance services, and hosting services. BPO services include product and platform solutions, revenue recovery and protection, and audit services.

The company has announced a final dividend of 300% for its shareholders by the record date of 6 October 2023.

Tata Consultancy Services

Tata Consultancy Services, or TCS, is the India’s largest IT services company. It also offers consulting and business solutions. The company has a strong history of dividend payments to its shareholders. With an expanding global footprint and a reputation for excellence, TCS remains one of the favorite stocks among investors seeking both capital appreciation and dividend income.

The company has set the record date for the next dividend payment as 19 October 2023. It will be an interim dividend. As of 30 September 2023, TCS shares were trading for Rs. 3,528.60 per share at the National Stock Exchange (NSE) and Rs. 3,530.75 per share at the Bombay Stock Exchange (BSE). They have returned more than 17% in the last 52 weeks.

HCL Technologies Limited

HCL Technologies is another prominent IT services company in India with a rich history of dividends. It offers its services in three verticals – IT and Business Services (ITBS), Engineering and R&D Services (ERS), and Software Services. The primary services include IT solutions, infrastructure management, Business Process Outsourcing (BPO), digital transformation, and cybersecurity solutions.

The company has set the record date for the next dividend payment as 20 October 2023. It will be an interim dividend. As of 30 September 2023, HCL Technologies shares were trading for Rs. 1,234.80 per share at the NSE and Rs. 1,236.20 per share at the BSE.

ICICI Securities Limited

ICICI Securities is an India-based full-service stockbroking company. It offers a wide range of services, including retail broking, institutional broking, investment banking, private wealth management, financial product distribution, portfolio management, and investment advisory. The company is a subsidiary of the largest private banking player - ICICI Bank.

The company has announced an interim dividend in October 2023 with the record date set as 27 October 2023. It last provided a dividend of Rs. 19 per share in March 2023. As of 30 September 2023, the shares of ICICI Securities Ltd. were trading for Rs. 621.40 at the NSE at market closing. The face value of these shares is Rs. 5 per share.

LTIMindtree Limited

LTIMindtree Limited is another India-based global technology consulting and IT solutions firm on this list of dividend-paying stocks in October 2023. The company’s services include package implementation, application development and maintenance, data warehousing, strategy consulting, and system integration.

With a strong focus on innovation and growth, the company remains an appealing option if you are looking for regular income and capital appreciation. It has set the record date for interim dividend as 27 October 2023.

As of 30 September, LTIMindtree shares were trading for Rs. 5,209.85 per share at the NSE and Rs. 5,210.15 per share at the BSE.

To conclude

Investing in dividend-paying stocks can provide a steady stream of income, which is particularly beneficial in today’s economic climate. The companies listed above have a history of regular dividend payments and are well-established in their respective sectors. However, you must conduct thorough research and consider your investment goals and risk tolerance before making investment decisions.

You can also consult a financial advisor to ensure your investments align with your financial goals. Remember that while dividend-paying stocks can provide additional income, they also come with several risks. Diversification and long-term investment horizon are crucial to build a successful portfolio. If you need a Demat account to invest in these stocks, you can open it for free with Motilal Oswal.


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