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Top Dividend Stocks To Watch In June 2024

equity market
Published Date: 30 May 2024Updated Date: 30 Dec 20246 mins readBy MOFSL

Introduction

Receiving dividends is one of the primary reasons why investors invest in stocks. Companies announce dividends to shareholders when they make profits. Recently, the Reserve Bank of India paid the Government of India dividends worth Rs 2.11 lakh crore. This blog lists the companies that will pay dividends on their stocks in June 2024.

Companies to Pay Dividends on Stocks in June 2024

Given below are some of the prominent companies that will pay dividends on their stocks to shareholders in June:

  • Hindustan Unilever Ltd

Hindustan Unilever Ltd (HUL) is one of India's largest and most well-known consumer goods companies. It manufactures several products, including foods, beverages, cleaning agents, and personal care items. With many of its brands, HUL has become a household name in India. 

The company operates with a mission to make sustainable living commonplace. HUL focuses on innovative products that meet the everyday needs of its consumers while promoting environmental and social responsibility. With its vast distribution network and commitment to quality, HUL continues to be a leader in India's fast-moving consumer goods sector. The dividend date of HUL's stock is 14th June.

  • Bajaj Auto Ltd

Bajaj Auto Ltd, a well-known Indian company, specialises in manufacturing motorcycles and three-wheelers. Over the years, the company has grown to become one of the largest producers of two-wheelers in the world. 

It offers several models to cater to different customer needs.  The company has consistently invested in innovation and technology, leading to the development of advanced features in their vehicles. Bajaj Auto continues to drive forward with a vision for a greener and more connected future. The dividend date for Bajaj Auto's stock is also 14th June.

  • HDFC Life

HDFC Life is one of India's prominent life insurance companies, providing individuals and groups with various insurance and investment products. The company aims to offer financial protection and savings options to help customers secure their futures. HDFC Life's product portfolio includes term insurance, health insurance, pension plans, and investment-linked insurance plans, catering to various financial needs and life stages. 

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The company has established a robust presence across India, with a strong distribution network that includes partnerships with banks, financial institutions, and brokers. It offers online services and mobile applications for easy access to policy information and management. The dividend date of the company's stocks is 21st June.

  • IndusInd Bank

IndusInd Bank is a famous private sector bank in India. The bank offers various services, including personal, corporate, and international banking. Customers can open savings accounts, apply for loans, and invest in multiple financial products. IndusInd Bank is also recognised for its innovative digital banking solutions, which make banking more convenient and accessible to its customers.

The bank's headquarters are in Mumbai. Over the years, IndusInd Bank has carved a niche with excellent customer service and a strong focus on technology. The dividend date of its stocks is 28th June.

  • Ambuja Cements

Ambuja Cements is one of India's leading cement manufacturing companies. The company has built a strong reputation for producing high-quality cement that caters to the needs of various construction projects. Ambuja Cements has a significant presence nationwide, with numerous plants and a vast distribution network that ensures its products reach even the most remote areas.

The company uses advanced technologies to minimise environmental impact and reduce carbon emissions. Ambuja Cements also invests in community development initiatives, including education, healthcare, and infrastructure improvements. The dividend date of its stocks is 14th June.

Benefits of Dividends to Investors

Here are the benefits that you get from dividends as an investor:

  • Regular Income

Dividends provide regular income. When companies pay dividends, they distribute a portion of their profits to shareholders. This money can supplement your regular income and provide extra cash flow for living expenses.

  • Reinvestment Potential

With the dividends received, you can buy more shares. This strategy, known as dividend reinvestment, can help you accumulate more shares over time, potentially increasing your overall return on investment.

Wrapping it Up

Dividend pay-out goes beyond mere financial transactions. It shows a company's financial health and the value it gives to its shareholders. That said, using the dividends received with prudence is imperative for long-term wealth creation.

 

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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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