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Stock market update: Dividend-paying stocks in April 2024

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Published Date: 01 Apr 2024Updated Date: 18 Sep 20246 mins readBy MOFSL
Dividend Paying Stocks in April 2024

Introduction:

Investing in the stock market can be rewarding as well as thrilling at the same time. The prices of the stocks fluctuate every second, and it can be difficult to predict them. But what if you could accumulate wealth through a more steady and foreseeable approach? This is where investing in dividend-paying stocks can help you.

Established companies with proven track records reward their shareholders with consistent payouts (known as dividends), allowing your capital to grow even while you rest. Investing in stocks of such companies presents a dependable route to building wealth, accompanied by the added benefit of safeguarding against inflation.

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What are dividend-paying stocks?

When a company decides to share a portion of its profit with its shareholders, it is known as a dividend. It is distributed to the shareholders as a percentage of the face value of the number of shares held by each shareholder. For example, if a company announced a 200% dividend on its shares of face value of Rs. 5 each, the shareholder will receive a dividend of Rs. 10 on every share they hold by the record date.

The record date refers to the date on which a company prepares the final list of its shareholders to distribute dividends. Thus, you must invest in a dividend-paying stock before the record date to be eligible to receive the dividend.

 

Dividend-paying stocks in April 2024

Numerous companies have announced dividends for April 2024. We have handpicked the top five dividend-paying stocks in April 2024 that you can add to your portfolio now:

  • TVS Holdings Limited

TVS Holdings Limited is one of the leading manufacturers of auto components in India. The company was formerly known as Sundaram-Clayton Limited. The product range includes cylinder heads, cylinder barrels, wheel-hub castings, crankcases, valve bodies, and brake systems, among others. 

The company has announced a whopping 1880% dividend for the financial year 2023-24. The record date for the dividend payment has been set as 2 April 2024. At a face value of Rs. 5 each, the dividend will amount to Rs. 94 per share. 

As of 30 March 2024, TVS Holdings shares were trading for Rs. 8,164.85 per share at the National Stock Exchange (NSE) and Rs. 8,104.15 per share at the Bombay Stock Exchange (BSE).

  • Ashok Leyland

Ashok Leyland is a leading commercial vehicle manufacturer in India. The product portfolio includes trucks, buses, tractors, engines, and defence vehicles. The company is India's second-largest producer of commercial vehicles, the third-largest manufacturer of buses worldwide, and the tenth-largest manufacturer of trucks globally.

The company has announced an interim dividend of 495% (Rs. 4.9 per share) for the financial year 2023-24. The record date for preparing the final list of shareholders to be eligible to receive the dividend has been fixed as 3 April 2024.

As of 30 March 2024, Ashok Leyland shares were trading for Rs. 171.25 per share at the NSE and Rs. 171.25 per share at the BSE.

  • Vesuvius India Limited

Vesuvius India is engaged in designing and manufacturing specialised ceramics essential for the continuous casting process in steelmaking. Their product line includes shrouds, monoblock stoppers, submerged nozzles, and tundish nozzles, all crucial components for optimizing the steel manufacturing process.

The company has announced a final dividend of 127.50% for FY24 and has fixed the record date for the same as 4 April 2024. As of 30 March 2024, Vesuvius India shares were trading for Rs. 3,316.90 per share at the NSE and Rs. 3,337.00 per share at the BSE.

  • Schaeffler India Limited

Schaeffler India Limited is one of India's prominent manufacturers of ball and rolling bearings, catering to both the automotive sector and various core industrial segments. The company offers a diverse range of products, including deep groove ball bearings, four-point ball bearings, self-aligning ball bearings, etc.

The company has announced a final dividend of 1300% (Rs. 26 per share) and has fixed 19 April 2024 as the record date for the same. As of 30 March 2024, its shares were trading for Rs. 2,811.35 per share at the NSE and Rs. 2,812.30 per share at the BSE. â€‹â€‹â€‹â€‹â€‹â€‹â€‹

To conclude

These dividend-paying stocks in April 2024 present promising prospects for investors aiming for a blend of income and growth. However, you must undertake comprehensive research and evaluate your investment objectives and risk tolerance before making any investment decisions.

 

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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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