‘Dividend yield’ is generally defined as a ratio between the dividend per share and the stock price of the company. It exhibits how much a company pays out as dividends compared to its stock price.
Listed below are 3 stocks under the ‘Mid cap’ category which have a dividend yield of more than 5 percent:
Rural Electrification Corporation (REC) Limited:
The company’s shares are currently trading today at Rs 162.50, gaining around 2 percent as compared to the previous closing price of Rs 159.80. It has a market capitalization of Rs 42,750 crores.
The company, during FY22-23, paid a total dividend of Rs 8.25 per equity share which portrays a dividend yield of 5.10 percent for the shareholders of the company.
REC is a government agency involved in providing loan assistance to various Central Power Sector Utilities, State Power Utilities, etc for investments in Power Generation & Transmission, Power Distribution, and other initiatives/schemes.
Oil India Limited:
The company’s shares are currently trading today at Rs 250.50, down around 0.60 percent as compared to the previous closing price of Rs 252.20. It has a market capitalization of Rs 27,169 crores.
The company, during FY22-23, paid a total dividend of Rs 14.50 per equity share which portrays a dividend yield of 5.78 percent for the shareholders of the company.
Oil India Limited is engaged in the process of exploration as well as production of crude oil, liquefied petroleum gas, natural gas, etc.
Indus Towers Limited:
The company’s shares are currently trading today at Rs 171, gaining around 6 percent as compared to the previous closing price of Rs 161.55. It has a market capitalization of Rs 46,056 crores.
The company, during FY22-23, paid a total dividend of Rs 11 per equity share which portrays a dividend yield of 6.43 percent for the shareholders of the company.
Indus Towers Limited is involved in the business of providing an infrastructure of telecommunication towers. The company owns as well as manages communication structures and telecom towers for various mobile operators.
Written by Amit Madnani
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