Coal India Limited and REC Limited are among the PSU stocks which are known to pay impressive dividends to investors on a quarterly and annual basis, and in the last one year, both have offered a high dividend yield of over 10%.
High Dividend produce stock
Coal India: CIL declares equity dividend That $28.25 per share in the past year resulted in a dividend yield of 13.27%, according to Trendline data. The Maharatna Public Sector Undertaking is under the Ministry of Coal, Government of India. The stock has gained more than 31% in a span of one year.
Consolidated net profit of the state-owned company increased by 70% 7,755.5 crore as compared to 4,558 crore in the year-ago period while sales increased during the October-December period. 32,429 crores, over 25,991 crores a year ago. In addition, the Board approved the payment of second interim dividend 5.25 per share for the current financial year 2022-2023.
,Coal India EBITDA ex-OBR INR112.4bn in Q3FY’23, up 52% YoY) exceeded our estimate. We expect a reduction in e-auction prices in Q4 FY23. Any increase in FSA price rise will be a major trigger for the stock (any increase has not been taken into account). Maintain ‘Buy’ with target price of 295,” brokerage Nuwama said after CIL’s Q3 results.
Rec: REC declares equity dividend 13.05 per share over the last 12 months and this results in a dividend yield of 11.41% at the current share price, according to data from stock analytics platform Trendline. The stock is up more than 19% over the one-year period.
The state-owned infrastructure finance company reported a 5% rise in net profit in the third quarter 2,915 crore while the total revenue from operations fell by over 2% 9,782 crores. The company, which primarily provides loans to state electricity boards, state utilities and all segments of power infrastructure in the private sector, said its interest income on loan assets grew by around 1% 9,660 crores. While announcing its earnings, its board also approved and declared a second interim dividend. 3.25 per share for the financial year 2022-23.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.