Dividend yield is a financial metric that compares the amount of cash dividends paid out to shareholders to the market price per share. It is calculated by dividing the dividend per share by the share price and multiplying the result by 100.
A dividend-paying stock provides investors with two opportunities of earnings: capital growth of the stock price and distribution of funds generated by the company (Dividend).
Here are three chemical stocks with high dividend yield
Gujarat Alkalies and Chemicals Ltd.
Gujarat Alkalies & Chemicals Ltd is a significant producer of Caustic Soda Lye.The company manufactures basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, and hydrogen peroxide for both local and foreign clientele.
On July 21, the company’s shares were trading at Rs 668.95 a share,down 0.52 percent from previous close price,thus being a small-cap stock with a market capitalization of Rs 4,918 crores.
The company’s dividend yield was 3.5 percent as of FY23. For the fiscal year ending March 31, FY23, the company declared a total dividend of Rs 33.5 per share with a face value of Rs 10.
In FY 22-23, sales increased by 20 percent year on year to 4,516 crore, while net profit increased by 2.5 percent to Rs 575 crore.
Standard Industries Ltd
Standard Industries Ltd manufactures textiles, clothing, and chemicals.The company produces chemicals like caustic soda, potash, and other chemicals. The company is also involved in trading and real estate.
The Standard Industries shares were trading at Rs 24.20 a share,up 1.26 percent from previous close price on July 21, with a market capitalization of Rs 155 crores.
The company’s dividend yield was 4.39 percent in FY23. For the fiscal year ending March 31, FY23, the firm paid a total dividend of Rs 1.05 per share with a face value of Rs 5.
In fiscal year 22-23, revenue fell by 95 percent year on year to Rs 21 crore, while net profit fell by 88 percent to Rs 21 crore.
Narmada Gelatines Ltd
Narmada Gelatines Ltd produces gelatine and ossein for a variety of applications including pharmaceutical, edible, industrial, and photographic.
The company’s shares were trading at Rs 432.90 a share,up 0.37 percent from previous close price on July 21, with a market capitalization of Rs 262 crores.
In fiscal year 23, the dividend yield was 23.2 percent. The company paid a total dividend of Rs 110 per share with a face value of Rs 10 for the fiscal year ended March 31, FY23.
Company’s sales climbed by 21 percent year on year to 191 crore in FY 22-23, while net profit increased by 25 percent to Rs 15 crore.
Written By Omkar Chitnis
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