5 Highest Dividend Paying Stocks To Consider For October 2021

 5 Highest Dividend Paying Stocks To Consider For October 2021

Dividends are paid to the shareholders from the profit received by the company and the profit that is left unpaid or which is not distributed as a form of dividend among the shareholders of the company forms the surplus and free reserve of the company. Here are the top 5 higher dividend paying stocks. 

Importantly as there are some of the companies that pay out dividends on a regular basis, it is crucial to note that the payment of dividends is to be fulfilled within 30 days of its approval which implies the eligible shareholders who will be receiving dividend pays out as on the recorded date should actually be recon=ving the dividend amount before the dividend issue or payment date.

Top 5 Dividend Paying Stocks Of October 2021

Now that you know the meaning of dividend stocks and when and how it is paid, it is now time to know the stocks that will offer you a higher dividend in the month of October. So here are the top dividend paying stocks in India 2021 for October.

1. Universal Autofoundry

This company is into selling and manufacturing iron castings to the engineering and automotive industries. The product line of the company has to lift arms, brakes, adaptor plates, and control housings, brackets, rockers, suspensions as well engine mounting, and brake drums.

It is a small capital scrip with a market capitalization of Rs. 16.53 crore. For the FY that ended in March 2021, the board of the company suggested an ultimate dividend of Rs. 0.5 every share of Rs. 10 (Dividend -5%). Record date as fixed for evaluating the shareholders who will be qualified for this dividend pay-out was fixed on October 1, 2021, while the stock shifted ex-dividend in respect of this stated dividend on September 30, 2021. This is the best dividend paying stock for the long term. 

The dividend, upon consent at the AGM of the company, planned to be held on Friday, 17th September 2021, will be paid after or on Friday, 17th September 2021 but within 30 days from the announcement of dividend at the Annual General Meeting as offered in the Companies Act, 2013.

2. Asian Granito

This company was founded in the year 2000 and is amongst the top ceramic companies in the nation. The offerings of the company include marble & quartz, tiles, and bath ware. The market capitalization of the company stood at Rs. 966 crore. 

This tiles company declared an ultimate dividend of Rs. 0.5 scheduled for the fiscal year 2020-21 for which the record date is planned at October 12. In the past 5 years, the company has declared a maximum ultimate dividend of Rs. 1.3 on every share for the financial year that ended in 2018.

3. Tata Consultancy Services

The leading software major of the country, TCS in its board meeting that has been arranged on October 8 will consider suggesting a second interim dividend for FY 2022. Earlier, the IT firm planned on paying out Rs. 7 as the initial interim dividend for the FY 2022 for which the stock shifted ex-dividend on July 15, 2021. 

For the year ending in March 2021 TCS has announced an equity dividend of 3800.00% equivalent to Rs 38 for every share. At the present share value of Rs 3753.00, this results in a dividend production of 1.01%.

4. Rashtriya Chemicals & Fertilizers Ltd. (RCF)

Another dividend paying stock 2021 is this. The Rashtriya Chemicals & Fertilizers Ltd was founded in 1978 and is a leading chemical and fertilizer manufacturing company in the public sector of the country. The two divisions of the company are fertilizers and the other are the industrial products. Products of this company include urea or ammonia, carbon dioxide and formic acid, and hydrogen peroxide.

For the financial year that ended in 2021, the company has declared a final dividend of Rs. 1.78 for which their stock shall turn ex-dividend on October 20, 2021. On the previous date, the script is modified for dividend pay-out. In the previous times, the company has declared an interim dividend of Rs. 1.2 on every share for FY 2021.

Taking into account the dividend pay-out and the last trading price of the stock of Rs. 83.1, the dividend yield balance to 3.59. This PSU entity is again a small capital scrip with a market capitalization of Rs. 4584 crore.

5. HCL Tech

This is another highest dividend paying stocks in India 2021 on our list. HCL Tech is a tech company that offers innovative solutions around Cybersecurity, Digital, Cloud,  IoT, Automation, Analytics, Engineering, Infrastructure Management is a large capital scrip. 

The board meeting of the company is scheduled for October 14, 2021, and in addition to their quarterly results, the company will also consider its 3rd interim dividend for the fiscal year 2022. Earlier the entity had announced two interim dividends of Rs. 6 on every share.

Conclusion

Investments are straight forward all you need is a good knowledge about the share market and the ability to make correct decisions. With all these, you can easily get a grab at the highest dividend paying stocks that prevail in the market. There are many companies that will offer a good amount of dividend, but the ones that are mentioned above will offer the best amount.

Yaseer Rashid

Yaseer Rashid got a degree in Journalism and worked as a freelancer. Later he joined News Magnify as a Business and stock writer.

Leave a Reply

Your email address will not be published. Required fields are marked *