February 19, 2023

3 Quality Stocks Declaring Dividends Next Week!

Continuing with my previous write-ups on the upcoming dividend announcements for the week amid the end of the Q3 FY23 earnings season, here are some of the high-quality stocks that dividend seekers should have on their watchlists for the next week.

Cochin Shipyard Limited

Cochin Shipyard Ltd (NS:COCH) is a shipbuilding & repair company with a market capitalization of INR 6,617 crores and trades at a P/E ratio of 11.73. In Q3 FY23, the company’s revenue declined by 34.5% YoY to INR 664.85 crores while net income fell only 14.6% to INR 110.4 crores due to improved EBITDA margins.

FIIs have noticeably increased their stake in the company to 6.87%, from 3.69% in the previous quarter. The company announced an interim dividend of INR 7 per share, the record date of which is 22 February 2023. The current dividend yield of the stock is 3.33% and it has increased its DPS from INR 1.5 per share in FY14 to INR 16.75 per share in FY22.

MSTC Limited

MSTC Ltd (NS:MSTC) is engaged in providing e-commerce-related services through e-auction/e-sales, e-procurement services and the development of customized software solutions, having a market capitalization of INR 2,014 crores. It reported a profit of INR 47.04 crores in Q3 FY23 over revenue of INR 183.07 crores, translating into a healthy profit margin of 25.75%.

The company is currently trading at a lucrative dividend yield of 4.51% and has announced an interim dividend of INR 6.3 per share, the record date of which is 22 February 2023. In FY22, it paid a dividend of INR 12.9 per share, the highest ever so far.

Oil India Limited

Oil India Ltd (NS:OILI) is an oil and gas exploration and production company, having a market capitalization of INR 28,237 crores. It is one of the highest dividend-paying companies in this sector and currently trades at a very healthy yield of 5.47%. Also, its P/E ratio stands at a lucrative 5.02, making it quite attractive from the valuation perspective as well.

This oil producer reported a 26.02% YoY jump in Q3 FY23 revenue to INR 9,433.54 crores and net income jumped 76.02% to INR 2,284.41 crores. It declared an interim dividend of 10 per share, the record date of which is 22 February 2023. Oil India has never skipped paying dividends in over a decade.

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