3 Stocks Giving ‘High Dividends’ Next Week!

Dividend investing is one of the ways to not just enjoy capital appreciation of the portfolio but also to generate a regular flow of income via dividends. Some investors prefer it over growth and value investing as regular payouts also help to gradually reduce the cost of purchase and add a cushion to losses.

In case it sounds like your type, here are 3 high dividend-paying stocks, that are going ex-dividend in the week starting 21 November 2022.

Oil India Limited

Oil India Ltd (NS: OILI ) is engaged in the exploration, development, and production of crude oil and natural gas in India and internationally and has a market capitalization of INR 21,948 crores. The company reported a net profit of INR 1,896.19 crores in Q2 FY23, compared to INR 2,805.06 crores a quarter back.

But that didn’t stop the company to cheer its investors with a good dividend payout of INR 4.5 per share and as per the CMP of INR 204.3, it translates into a return of 2.2%. The dividend yield of the stock is a lucrative 7.04%. On a TTM basis, the company has already paid a dividend of INR 14.25 per share and it maintains a payout ratio between 0.2 - 0.3. The ex-dividend date is 21 November 2022.

Hindustan Zinc Limited 

Hindustan Zinc Ltd. (NS: HZNC ) is a diversified metals company engaged in the mining and smelting of zinc , lead and silver metals in India and has a market capitalization of INR 1,37,005 crores. The company ended Q2 FY23 with a net profit of INR 2,680 crores, translating into an EPS of INR 6.34 which is a bit on the lower side compared to 7.32 in the previous quarter.

The company also declared an interim dividend of INR 15.5 per share which is a good 4.7% of the CMP. That’s more than a 1-year return on a savings account! The stock is trading at a dividend yield of 16.8% on a TTM basis as it has declared a total dividend of INR 54.5 per share in the last twelve months (including the next week’s payout). The ex-dividend date is 23 November 2022.

Power Finance Corporation Limited

Power Finance Corporation Ltd (NS: PWFC ) is one of investors’ favorite dividend stocks. The company is in the business of providing specialized financial services to the power sector and has a market capitalization of INR 32,486 crores. It posted a profit of INR 3,935.26 crores in Q2 FY23, 15.1% up on a QoQ basis and declared an interim dividend of INR 3 per share.

The stock is trading at a dividend yield of 10.16% and is one of the most consistent dividend-paying stocks out there. The FY22 dividend payout ratio remained at 0.23 and the stock is available at a mouth-watering valuation of a 0.34 PB ratio. The ex-dividend date is 24 November 2022.