May 1, 2023

2 Stocks Giving Dividends This Week!

As the Q4 FY23 earnings season is on, companies are all set to declare the final dividend of the financial year. For dividend lovers, here’s a list of 2 high-quality stocks that are shelling out dividends this week.

Castrol India Limited

Castrol India Ltd (NS:CAST) is a popular brand in the lubricant oil space, having a market capitalization of INR 11,454 crores. The company is yet to declare its Q4 FY23 earnings report which is expected on 9 May 2023 and is sitting on a profit of INR 815.15 crores (TTM) over a revenue of INR 4,841.54 crores in the same period.

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Dividend payout data of Castrol

Image Description: Dividend payout data of Castrol

Image Source: InvestingPro

It is a good dividend-paying stock and is currently trading at a yield of 7.93%. Not just that, on the valuation front, it is quite attractive with a TTM P/E ratio of 14.05. The company has never skipped paying dividends in over a decade and has increased its DPS (dividend per share) from INR 5 in FY18 to INR 6.5 in FY22. The record and ex-dividend date for the next payout is 4 May 2023 and the payment date is 9 June 2023 for a dividend of INR 3.5 per share.

Embassy Office Parks REIT

Embassy Office Parks REIT (NS:EMBA) is actually not a company but a REIT (Real estate investment trust) that owns and operates many office parks, having a market capitalization of INR 32,216 crores. This REIT has been increasing its net income at a lucrative 5-year CAGR of 38.07%, which is one of the reasons for its high dividend policy.

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Dividend payout data of Embassy Office Parks REIT

Image Description: Dividend payout data of Embassy Office Parks REIT

Image Source: InvestingPro

In fact, all REITs listed on the NSE offer attractive dividends and Embassy Office Parks has a current yield of 6.58%, which easily beats the current inflation. As per the December 2022 data, FIIs hold a whopping 28.39% stake in it. It is cheering shareholders with the next payout of INR 5.61, the ex-dividend date of which is 4 May 2023 and the payment date is 12 May 2023.

InvestingPro not just gives your the ex-dividend and the ex-record date, but also gives you the exact date on which dividends will be credited to the shareholders’ bank account.

Read More: This ‘Flag & Pole Breakout’ is Ideal for Swing Traders!

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