Upcoming Dividend Paying Stocks In July 2023

Dividends are a portion of a company’s profit that it distributes among investors as a reward for investing in its shares. It acts as additional income from stock investments and may help investors offset any loss they might have incurred because of a fall in share price. As a result, companies that announce regular dividends enjoy higher demand from investors.

Dividend yield refers to the dividend paid by the company compared to its price per share, expressed as a percentage. Using the dividend yield formula, investors can calculate which company is paying a higher dividend for the same investment value.  

Dividend stocks are excellent tools for diversifying your portfolio and adding a source of income to your stock investments. Let us now see the list of upcoming dividend paying stocks in July 2023.

List of Top Dividend Paying Stocks in July 2023

Tata Motors 

Tata Motors is a global automobile giant with a market capitalisation of Rs. 2,04,075 crore. The company’s portfolio includes a range of cars, sports utility vehicles, trucks, buses, and defence vehicles. 

The company board has approved a final dividend of 100%, amounting to Rs. 2 per share. The stocks will trade ex-dividend on 28th July 2023. Tata Motors has a steady track record of paying dividends.

Here are some important financial metrics of Tata Motors:

• 5-year CAGR: 15.9%
• PE ratio: 80.7
• Dividend yield: 0.35%

LIC

LIC is India’s largest life insurance company with a significant market share. The company’s product basket includes individual and group life insurance solutions, including participating, non-participating, and unit-linked products.

LIC has announced a dividend of 30%, amounting to Rs. 3 per share. The shares will trade ex-dividend on 21st July 2023. At the current market price of Rs. 615.90, the company has a dividend yield of 0.49%. The company has consistently declared dividends in the last 5 years.

Here are some important financial metrics of LIC:

• 5-year CAGR: – 3.82%
• PE ratio: 7.44
• Dividend yield: 0.49%

Bosch Ltd.

Bosch Ltd. is an India-based company that offers technology and service solutions in mobility, industrial technology, consumer goods, energy, and building technology. The company board announced an Rs. 280 or 2,800% dividend per share for July 2023. The record date for Bosch shares is 15th July 2023. Since 2021, Bosch has declared 29 dividends.

Here are some important financial metrics of Bosch:

• 5-year CAGR: – 1.53%
• PE ratio: 38.5
• Dividend yield: 2.58%

Happiest Minds Technologies

Happiest Minds Technologies is a next-generation IT solution and service company that made its stock market debut in 2020. The board has declared a dividend of Rs. 3.4 per share, or 170%. The company had declared five dividends in the last 2 years.  

Here are some important financial metrics of Happiest Minds Technologies:

• 5-year CAGR: NA
• PE ratio: 64.6
• Dividend yield: 0.57%

Axis Bank

Axis Bank is one of the largest private lenders engaged in banking and financial services. It offers complete banking solutions to retail and corporate customers. Axis Bank has recently approved 50% equity dividends amounting to Rs. 1 per share. The bank has a healthy track record and has been consistently paying dividends for the last 5 years. Axis Bank shares will trade ex-dividends on 7th July 2023.  

Here are some important financial metrics of Axis Bank:

• 5-year CAGR: 13.6%
• PE ratio: 12.8
• Dividend yield: 0.10%

Final Words

These are some of the upcoming dividend paying stocks in July 2023. If you have any of these stocks in your portfolio and hold them on the record date, you are eligible to receive dividends as per the declared percentage.  

If you are a new investor and want to invest in any of the dividend stocks, open a Demat with Angel One today!

Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.