Billionaire Anil Agarwal-led Vedanta Ltd has handsomely rewarded investors this year as the company achieved top spot in the BSE 500 index of company with highest dividend yield
The Indian equity benchmarks have staged a strong bounce back from the 52-week low hit in June. The National Stock Exchange's benchmark Nifty 50 index has surged a whopping 14 per cent from 52-week low of 15,183 hit on June 17. The strong up move in the market came on the back of strong earnings posted by Indian companies in June quarter, buying by foreign institutional investors and hopes that US Fed may temper its aggressive interest rate hikes boosted investor sentiment, analysts said.
Selling by foreign institutional investors appears to have abated as they turned net buyers in Indian markets in July by buying shares worth Rs 4,989 crore. Buying by FIIs came after consistent selling by them in the first six months of the year.
Amid tumultuous times witnessed by investors some companies in the markets rewarded investors by paying them handsome dividends.
Vedanta: Billionaire Anil Agarwal-led Vedanta Ltd is among the highest dividend paying stocks and it has handsomely rewarded investors this year as the company achieved top spot in the BSE 500 index of company with highest dividend yield, data from Ace Equity showed. Vedanta had dividend yield of 17.7 per cent and the company has so far this year paid dividend of Rs 64 in three tranches to its investors. The total dividend is 6,400 per cent on face value of Re 1 per share for the current financial year.
Vedanta last week reported 5 per cent rise in net profit at Rs 4,421 crore for the quarter ended June. The company had posted a consolidated net profit of Rs 4,224 crore in the year-ago period, the company said in a regulatory filing.
Its consolidated income during the April-June period increased to Rs 39,355 crore from Rs 29,151 crore last year.
The company has paid total dividend of Rs 16,689 crore as of March 2022.
Indian Oil: The country's largest state-run oil refiner - Indian Oil - is second on the list of companies achieving highest dividend yield. According to Ace Equity data Indian Oil has dividend yield of 17.62 per cent. The company has so far this year paid dividend of Rs 7.6 in two tranches to its shareholders. The company has also announced bonus issue in ratio of one bonus share of face value of Rs 10 each for every two existing equity shares.
Indian Oil Corporation (IOC) on Friday reported a net loss of Rs 1,992 crore in the June quarter as a freeze on petrol and diesel prices wiped away record refining margins.
Net loss of Rs 1,992.53 crore in April-June compares to Rs 5,941.37 crore of net profit in the same period a year back, the company said in a stock exchange filing.
Its revenue from operations rose to Rs 2.51 lakh crore in April-June from Rs 1.55 lakh crore, mostly because of higher international oil prices.
The company has paid total dividend of Rs 8,383 crore as of March 2022 an is among the highest dividend paying stocks.
Bharat Petroleum: Bharat Petroleum has achieved dividend yield of 15.26 per cent and it is currently third on the list of companies achieving highest dividend yield. Since the start of the year, the company has paid dividend of Rs 11 in two tranches and the total dividend is 110 per cent on face value of Rs 10 per share for the current year.
The company has paid total dividend of Rs 4,261 crore as of March 2022 and is among the highest dividend paying stocks.
REC: REC Ltd has achieved dividend yield of 11.52 per cent and the company has so far this year paid dividend of Rs 6 per share and the total dividend is 60 per cent on face value of Rs 10 per share for the current year. The company has also announced a bonus issue of shares in ratio of 1:3. The existing shareholders will get one bonus share for three equity shares.
The company has paid total dividend of Rs 2,172 crore as of March 2022.
Steel Authority Of India Ltd (SAIL): The country's largest state-run steel maker has achieved dividend yield of 11.27 per cent. The company has so far this year paid dividend of Rs 4.75 per share in two tranches. The total dividend is 47.5 per cent on face value of Rs 10 per share for the current year.
The company has paid total dividend of Rs 413 crore as of March 2022.