3 Stocks To Buy For Dividends Of 200% to 1000% In Sept, 2022

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Investment
oi-Sunil Fernandes
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Updated: Monday, August 15, 2022, 10:26 [IST]

The months of July, Aug and September are ones in which we see a host of companies declaring their dividends. Here are a list of 3 companies, which have declared hefty dividends and their book closures in Sept 2022.

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LIC Housing Finance

This company has declared a dividend of Rs 425%. Since the shares are with a face value of Rs 2, the dividend for the same is Rs 8.5 per share. The ex dividend date for the same is Sept 19, 2022. The company has been reporting results that have been tepid and hence the stock has been languishing for sometime now.

LIC Housing Finance had a much better quarter for the quarter ending June 30, 2022, wherein the EPS was Rs 16.80. Now, if we try and arrive at some kind of annualization than the EPS should be Rs 80 for 2022-23. At the current price of Rs 380, the stock is barely trading at a price to earnings of 5 times. A pretty good stock to buy at the current levels of Rs 380.

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Banco Products

Banco Products India has declared a dividend of 1000% and the ex date for the stock is Sept 6, 2022. Banco Products is one of the top players in engine cooling systems and engine sealants. “The Register of Members and the Share Transfer Books of the Company shall remain closed from 8 September, 2022 to 22’September, 2022 (both days inclusive) for the purpose of ascertaining the entitlement for payment of dividend,” the company said in a release to the exchanges.

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Gulf Oil Lubricants

This is another player that has a very good and consistent track record for declaring dividends. The company’s ex date for dividend is Sept 8, 2022. The company also reported very good quarterly numbers.

The company achieved record revenue for the quarter touching Rs. 706 crores at 69.26% growth YoY. All segments of business witnessed good growth led by the B2C segment covering bazaar market and OEM Franchise workshops, with demand conditions improving in most categories on the back of improved business environment, industrial and infra customer/OEM off takes and the impact of market reach & distribution initiatives. The company is part of the Hinduja Group.

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Investors need to invest with caution

While investing, we suggest that investors do do, with caution, given that the Sensex has rallied from levels of nearly 52,500 points to nearly 60,000 points. At this rates on the indices, the markets are reasonably valued. So, there could be another few per centage points upside, but, beyond that we do not expect a sharp upsurge.

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Disclaimer

Investing in stocks is risky and investors must exercise all possible caution. Do not use the article as a basis for your complete investment decision. Greynium Information, the author and the brokerage houses is not responsible for losses, based on a decision taken after reading this article.

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