Introduction:
Investors always seek opportunities to enhance their portfolios and generate consistent returns. Dividend-paying stocks have been a favourite among investors for their ability to provide a steady income stream. Dividends are financial rewards that companies distribute to their shareholders as a part of their profits. In addition to providing regular income to investors, dividends reflect a company's overall financial stability and well-being. Companies with consistent dividend payouts have the potential to improve stock valuation and appeal to long-term investors seeking reliable returns.
Top dividend-paying stocks in March 2024
As we enter the final month of the financial year 2023-24, several prominent companies have announced dividends for their shareholders. By investing in the stocks of these companies before the record date, you can ensure consistent income and significant capital appreciation. Below are the top dividend-paying stocks in March 2024 you can consider buying:
DCM Shriram Limited is a prominent business conglomerate with a group turnover amounting to Rs. 12,080 crores. The company’s business segments include chemicals, sugar, fertilisers, and seeds. Recently, it has expanded its business portfolio by introducing a value-added UPVC window system under the brand Fenesta TM in the Indian market.
On 21 February 2024, the company's Board of Directors announced an interim dividend of 200% considering strong Q3 results. It means that at the face value of Rs. 2, investors will get a dividend of Rs. 4 per share. The company has set the record date for the dividend payment as 6 March 2024.
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Panchsheel Organics Limited
Panchsheel Organics Limited operates as a manufacturer and exporter. It specialises in a diverse range of products, including APIs, nutraceuticals, intermediates, bio-fertilisers, bio-stimulants, growth promoters, finished formulas, steroids, and various other pharmaceutical and agricultural compounds.
The company’s Board of Directors announced an interim dividend for shareholders on 13 February 2024. The record date for the payment of dividends has been set as 8 March 2024. The company last provided a dividend of 36% on the face value of Rs. 10 each, i.e., Rs. 3.6 per share in March 2023.
Sanofi India Limited is one of the world's prominent pharmaceutical companies. It focuses on developing medications in therapeutic areas, including cardiovascular diseases, thrombotic diseases, metabolic disorders, oncology, central nervous system disorders, internal medicines, and vaccines. The company's extensive product portfolio features leading brands such as Clexane, Cardace, Daonil, Lantus, Taxotere, Soframycin, Combiflam, Arava, Lasix, and several others.
On 23 February, the company’s Board of Directors announced an interim dividend of 500% for its shareholders. It will be the biggest dividend offered by the company after a dividend of 160 in December 2004. The dividend amounts to Rs. 10 per share at a face value of Rs. 50.
Castrol India Limited operates as a prominent lubricant company. The company is primarily engaged in the production and promotion of automotive and industrial lubricants along with associated products. The company boasts well-known brands in its portfolio, including Castrol CRB, Castrol Activ, Castrol GTX, and Castrol POWER1, among others.
On 1 February 2024, the company’s Board of Directors announced the payment of a final dividend for its shareholders. The dividend will amount to Rs. 4.5 per share (90% of Rs. 5). The company has set the record for dividend payment as 21 March 2024.
CRISIL stands for Credit Rating Information Services of India Limited. It is an analytical company specialising in offering ratings, research, and advisory services related to risk and policy. The firm operates as a subsidiary of the American company S&P Global in India.
On 16 February 2024, the company’s Board of Directors announced a final dividend of 2800% for its shareholders. You can buy CRISIL shares before the record date of 28 March 2024 to receive a dividend of Rs. 28 per share (at a face value of Re. 1).
To conclude
These dividend-paying stocks in March 2024 offer potential opportunities for investors seeking a mix of income and growth. However, it's crucial to conduct thorough research, consider your investment goals and risk tolerance, and, if needed, consult with financial experts before investing. Remember, investing always carries risks, and staying informed is essential for making sound investment decisions.
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