4 High dividend yield stocks that will pay the Govt ₹ 14,529 Cr in dividends this month
According to the most recent corporate shareholdings, the Government of India has a public stake in more than 72 Indian companies. It divides Central Public Sector Enterprises (CPSEs) into three types: Maharatna, Navratna, and Miniratna.
There are 11 companies that hold the ‘Maharatna’ title based on specified requirements. The record date for determining shareholder eligibility for dividend entitlement from four firms fell this month, i.e., in November. Dividends from these corporations are expected to total 14529.57 Cr for the government:
4 High dividend yield stocks that will pay the Govt ₹ 14,529 Cr in dividends this month
Power Grid Corporation of India Limited (Div yield – 5.81%)
The Power Grid Corporation of India is the country’s largest power transmission corporation. It operates under the auspices of the Ministry of Power. It provides Inter-State Transmission System (ISTS) planning, implementation, operation, and maintenance, as well as telecom and consultation services. It has a market value of 1,53,007 crores, and its shares were trading at 220.90 per share on the National Stock Exchange (NSE) on Wednesday at 11:38 a.m.
The corporation issued a 5 per share dividend. Its stock went ex-dividend on November 14, 2022, with the record date being November 15, 2022. According to the most recent ownership pattern, the government owns 3,58,11,63,210 shares of the corporation, representing a 51.3% interest. This implies it will earn a dividend of 24,17,28,51,668 rupees or 2417.28 crores.
Coal India Limited (Div yield – 10.12%)
Coal India Ltd’s primary activities include coal mining and production, as well as the operation of coal washeries. The company’s key customers include the power and steel industries, as well as cement, fertilizers, brick kilns, and so on. It has a market value of 1,40,017 crores, and its shares were trading at 227.25 per share on the National Stock Exchange (NSE) on Wednesday at 11:41 a.m.
The corporation issued a 15 per share dividend. Its stock went ex-dividend on November 15, 2022, with the record date being November 16, 2022. According to the most recent ownership pattern, the government owns 4,075,634,553 shares of the corporation, representing a 66.1% interest. This implies it will get a dividend of 61,13,45,18,295 rupees (6113.45 crores) from the company.
ONGC(Div yield – 8.38%)
ONGC is India’s largest crude oil and natural gas company. It accounts for over 71% of Indian domestic output. It has a market value of 1,76,438 crores, and its shares were trading at 140.90 per share on the National Stock Exchange (NSE) on Wednesday at 11:42 a.m.
The corporation announced a dividend of 6.75 cents per share. Its stock went ex-dividend on November 21, 2022, with the record date being November 22, 2022. According to the most recent ownership pattern, the government owns 7,40,88,67,093 shares of the corporation, representing a 58.9% interest. Tuhin Kanta Pandey, the secretary in the Department of Investment and Public Asset Management (DIPAM), said that the government received a huge dividend tranche of ₹ 5,001 crores from ONGC.
Power Finance Corporation (Div yield – 9.29%)
It is a systemically important non-deposit-taking NBFC registered with the RBI as an infrastructure finance company. It extends financial assistance to the Indian power sector. It has a market capitalization of ₹ 35,509 crores and its shares were trading at ₹ 135.60 apiece at 11:43 AM on the National Stock Exchange (NSE) on Wednesday.
The company declared a dividend of ₹ 3 per share. Its shares traded ex-dividend on November 24, 2022, and the record date was on November 25, 2022. According to the latest shareholding pattern, the government holds 1,47,82,91,778 shares or a 56.0% stake in the company. This means that it will receive a dividend of ₹ 997,84,69,502 or ₹ 997.85 crores from it.
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