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Here Are The Top Dividend-Paying Stocks In May 2024

stock market
30 Apr 20246 mins readBy MOFSL

Introduction:

Investing in the stock market presents an opportunity for investors to generate substantial profits. This is exemplified by the recent positive performance of the Indian market, which saw a notable increase of 1.2% in the past week and an impressive surge of 48% over the preceding 12 months. Nevertheless, it's essential to acknowledge the inherent risks associated with such investments.

One strategy to mitigate risk while still capitalising on your investment is to focus on stocks that offer attractive dividends. By prioritising investing in dividend-paying shares, you can cultivate a steady stream of income within their portfolios over time. While this approach may lack the allure of rapid gains, it provides a more stable and sustainable method for wealth accumulation.

Why invest in dividend-paying stocks?

By investing in dividend-paying stocks before the record date, you can receive a fixed income. Dividends allow listed companies to share their profits with their shareholders. They are given as a percentage of the face value of the existing equity shares. 

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For example, suppose you own 100 shares of a company with a face value of Rs. 5 per share and the company announced a dividend of 100%. It means that you will receive a Rs. 5 per share dividend in your bank account, which amounts to a total of Rs. 500 (5 x 100).

Dividend-paying stocks in May 2024

For those looking to invest in dividend-paying stocks in May 2024, below is a list of such stocks:

1. CRISIL

CRISIL stands for Credit Rating and Information Services of India Limited. The company is a premier credit rating agency in India, renowned for its comprehensive suite of services encompassing research and risk advisory. With a robust presence in both domestic and international markets, CRISIL extends its rating expertise across a diverse spectrum of debt instruments, covering a vast portfolio of more than 8,000 companies. 

As of 23 April 2024, CRISIL shares were trading for Rs. 4,194.10 per share at the National Stock Exchange (NSE) and Rs. 4,203.35 per share at the Bombay Stock Exchange (BSE). On 8 April 2024, the company’s Board of Directors announced an interim dividend of 700% for the shareholders. The record date for the dividend payment has been set as 3 May 2024.

2. Sanofi India Limited

Sanofi India Limited is a subsidiary of the multinational corporation Sanofi. It operates within the healthcare sector with a strategic focus on various therapeutic domains. These encompass diabetes, cardiology, consumer healthcare, hospital, central nervous system, and anti-histamines, among others. The company’s diverse product portfolio comprises insulin, tablets, vaccines, and injections.

As of 23 April 2024, Sanofi India’s shares were trading for Rs. 8,140.25 per share at the NSE and Rs. 8,155.00 per share at the BSE. On 24 February 2024, the company announced a dividend of 1170% on the face value of Rs. 10 each. The company has set 3 May 2024 as the record date for the payment of the dividend.

3. ABB India Limited

ABB India holds a distinguished position in the Indian infrastructure sector. Widely recognised for its exceptional reputation, the company's operations are organised into four primary segments: electrification, process automation, motion, and robotics.

As of 23 April 2024, ABB India Limited shares were trading for Rs. 6,307.45 per share at the NSE and Rs. 6,307.60 per share at the BSE. On 20 February 2024, the company announced a dividend of 1190% on the face value of Rs. 2 each. The record date for the dividend payment has been set as 3 May 2024.

4. Infosys Limited

Infosys Limited is a leading IT services provider in India. The multi-national company has its footprint in India as well as abroad. As of 23 April 2024, Infosys’ shares were trading for Rs. 1,442.40 per share at the NSE and Rs. 1,441.70 per share at the BSE.

On 19 April 2024, the company’s Board announced a special dividend of 160% for its shareholders. The record date for the dividend payment has been set as 31 May 2024.

To conclude

These are the top dividend-paying stocks in May 2024. Undoubtedly, these stocks offer a great option to generate some passive income. However, as an investor, you must conduct thorough research before making investment decisions and ensure your portfolio is aligned with your investment goals and risk appetite. 

 

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Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
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