“Dividend yield” is the financial ratio measuring the quantum of cash dividends that have been paid out to the shareholders relative to the market value per share.
Listed below are three high-dividend yield stocks that are turning ex-dividend in the coming week of December 2023:
Bharat Petroleum Corporation Limited
With a market capitalization of Rs 1.02 lakh crores, the stocks of Bharat Petroleum Corporation Limited, a public sector company engaged in the business of refining crude oil, closed at Rs 470.50 on Friday, slipping approximately 0.80 percent as compared to the previous closing levels of Rs 474.20 apiece.
The company has declared an interim dividend of Rs 21 per equity share and the ex/record date for the same is fixed as 12th December 2023. As per the recent financial year, the company reported a high dividend yield of around 0.90 percent.
During the recent financial quarters, the basic business parameters such as operating revenues and net profits took a dip in numbers with the former reducing from Rs 1,12,984 crores during Q1FY23-24 to Rs 1,03,044 crores during Q2FY23-24, and, the latter, during the same time horizon, slipped from Rs 10,167 crores to Rs 7,943 crores.
Rashtriya Chemicals and Fertilizers Limited
With a market capitalization of Rs 8,358.07 crores, the stocks of Rashtriya Chemicals and Fertilizers Limited, engaged in the business of manufacturing and marketing fertilizers & industrial chemicals, closed at Rs 151.50 on Friday, slipping approximately 1 percent as compared to the previous closing levels of Rs 153.10 apiece.
The company has declared a final dividend of Rs 3.70 per equity share and the ex/record date for the same is fixed as 13th December 2023. As per the recent financial year, the company reported a high dividend yield of around 3.50 percent.
During the recent financial quarters, the basic business parameters such as operating revenues and net profits moved in opposing directions with the former, on one end, increasing from Rs 4,042 crores during Q1FY23-24 to Rs 4,155 crores during Q2FY23-24, and, the latter, on the other end, reduced from Rs 67 crores to Rs 51 crores.
Hindustan Zinc Limited
With a market capitalization of Rs 1.36 lakh crores, the stocks of Hindustan Zinc Limited, the largest mining company in India under the Vedanta group, closed at Rs 322.95 on Friday, slipping approximately 0.40 percent as compared to the previous closing levels of Rs 324.05 apiece.
The company has declared an interim dividend of Rs 6 per equity share and the ex/record date for the same is fixed as 14th December 2023. As per the recent financial year, the company reported a high dividend yield of around 24 percent.
During the recent financial quarters, the basic business parameters such as operating revenues and net profits took a dip in numbers with the former reducing from Rs 7,282 crores during Q1FY23-24 to Rs 6,791 crores during Q2FY23-24, and, the latter, during the same time horizon, slipped from Rs 1,964 crores to Rs 1,729 crores.
Written by Amit Madnani
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