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Top dividend-paying stocks in July 2024 to watch out for

stock market
Published Date: 05 Jul 2024Updated Date: 27 Dec 20246 mins readBy MOFSL

Introduction:

Investing in the stock market can offer multiple benefits. Apart from capital appreciation, it can provide you with a regular income through dividends. When a listed company distributes its profits among the shareholders, they are known as dividends. Dividends are paid in cash to shareholders who own the company's stock as of the record date. They can be classified as interim, final, or special.

As an investor, it’s crucial to pay attention to dividend-paying stocks every month and create your investment strategy accordingly. July 2024 promises to be an exciting month for the Indian stock market investors as several promising companies have announced dividends for their shareholders. 

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In this blog post, you will explore the top dividend-paying stocks in July 2024, and make informed investment decisions. Keep reading.

Top dividend-paying stocks in July 2024

Below are the top dividend-paying stocks in July 2024 in India:

1. Geojit Financial Services Limited

Geojit Financial Services is a Non-Banking Financial Company (NBFC) offering investment-related and other financial services in India. The company provides an online platform for investing in stocks, mutual funds, and other instruments. It also offers services such as investment advisory and portfolio management. The company’s board has approved a final dividend of 150% for its shareholders by the record date of 1 July 2024. 

2. 3M India Limited

3M India Limited is a subsidiary of the US-based company. It engages in the design and manufacturing of specialised tools and services for a variety of markets. The company’s board of directors have approved a final dividend of Rs. 160 per share for its shareholders by the record date 5 July 2024. In addition to the final dividend, the company has also announced a special dividend of Rs 525 per share, bringing the total dividend payout to Rs 685 per share.

3. Abbott India Limited

Abbott India Limited is one of the largest and fastest-growing pharmaceutical companies. It is involved in the discovery, development, and manufacturing of products in the pharmaceutical sector. The company has recently announced a final dividend of Rs. 410 per share for its shareholders. The record date for the same is 19 July 2024. Since 2001, Abbott India Limited has declared dividends 29 times.

4. JSW Steel Limited

JSW Steel Limited is one of the largest steel and iron manufacturing companies in India. The company offers a diverse product portfolio comprising steel plates, sheets, hot rolled coils, bars, rails, grinding balls, etc. The company has approved a final dividend of 730% for its shareholders by the record date of 9 July 2024. Investing in JSW Steel shares before the record date can fetch significant profits and dividend income.

5. Sun Pharma Limited

Sun Pharma or Sun Pharmaceutical Industries Limited is an internationally renowned pharma company. It manufactures and sells active pharmaceutical ingredients (APIs) prescribed in chronic therapy areas and acute treatments. The company’s board has recently approved a final dividend of 500% for its shareholders. The record date for the same has been set as 12 July 2024. You can invest in Sun Pharma shares before the record date to receive dividend income.

6. Nestle India Limited

Nestle is one of the largest companies in the packaged food sector. The company’s product portfolio includes two-minute noodles, chocolates, instant coffee, tea, pasta, milk, sauces, and yoghurt, among others. Top brands under Nestle India are Maggi, Kissan, Nescafe, Kitkat, and Milkmaid. The company’s board has announced a dividend of 850%, i.e., Rs. 8.5 per share for its shareholders. The record date for the same is 16 July 2024.

7. Hawkins Cooker Limited

Hawkins Cooker Limited is a leading player in India’s pressure cooker market. The company’s products are sold under the brands – Hawkins and Futura. Following a stable growth in FY 2023-24, the company has announced a dividend of 1200%, i.e., Rs. 120 per share for its shareholders by the record date of 30 July 2024. The company boasts a rich dividend distribution history, with 23 dividends since 2001.

To conclude

These are the best dividend-paying stocks in July 2024 in India. You can invest in the shares of these companies before the record dates to receive the dividend income in your bank account. But remember to consider your investment objectives, risk appetite, and market conditions while making your 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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