5 Stocks to Watch Out for Upcoming Dividends in May 2024

The stock market allows investors to make some good money.

This is evident with the Indian market showing promising growth, with a 1.2% rise over the last week and an impressive 48% increase over the past 12 months.

However, there is always some risk involved.

But one way of earning money while staying invested in your stocks is to buy shares that give good dividends.

Investing in dividend returns can provide a robust source of portfolio income over time, offering a less flashy but more sustainable approach.

For investors looking for such stocks, in this article, we highlight 5 stocks that are set to pay dividends in May 2024.

#1 Elantas Beck India

First on the list is Elantas Beck India.

The board of directors of Elantas Beck approved a final dividend of Rs 5 per fully paid-up equity shares of Rs 10 each for the financial year ending 31 December 2023.

The company has fixed Monday, 1 May 2024, as the record date for determining eligible shareholders for payment of the dividend.

Elantas Beck India has declared 24 dividends since 2001. The five-year average dividend payout ratio stands at 5.9%. The dividend yield over the past five years has averaged 0.2%.

The company manufactures a wide range of speciality chemicals in the electrical insulation and construction industries.

Elantas Beck India is part of ALTANA, an international speciality chemicals group.

Elantas Beck India Dividend History (2018-22)

	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22
Dividend per share (Adj.) * (Rs)	4.5	5	5	5	5
Dividend payout ratio (%)	5.4	8	6.4	5.9	4.1
Dividend Yield (%)	0.2	0.2	0.2	0.1	0.1

*Adjusted for bonus issues and stock splits
Data Source: Equitymaster

For more details, see the Elantas Beck company fact sheet and quarterly results.

#2 Sanofi India

Second on the list is Sanofi India.

Pharmaceutical company Sanofi India's board, on 23 February, recommended a final dividend of Rs 117 per equity share of the face value of Rs 10 each for the year ended December 2023.

The pharma firm follows a January-December financial year. It announced 3 May as the record date for the final dividend.

Sanofi India has declared 49 dividends since December 2001. The five-year average dividend payout ratio stands at 150.4%. The dividend yield over the past five years has averaged 19.6%.

Sanofi India Ltd (Sanofi India), a subsidiary of Sanofi, is a healthcare company. It focuses on a range of therapeutic areas, including diabetes, cardiology, consumer healthcare, hospital, central nervous system, and anti-histamines.

The company's product portfolio includes insulin, tablets, vaccines, and injections.

Sanofi India's Dividend History (2018-22)

	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22
Dividend per share (Adj.) * (Rs)	84	348.9	364.9	489.9	569.9
Dividend payout ratio (%)	50.8	194.1	176	119.5	211.5
Dividend Yield (%)	1.5	5.6	4.9	5.9	8.5

*Adjusted for bonus issues and stock splits
Data Source: Equitymaster

For more details, see the Sanofi India company fact sheet and quarterly results.

#3 CRISIL

Third on the list is CRISIL.

The board of directors has recommended an interim dividend of Rs 54 per equity share or 5400% of the face value of Rs 1 each, for the financial year ended 31 December 2023

The record date for the same is fixed as 3 May 2024. In the past 12 months, CRISIL has declared an equity dividend amounting to Rs 77 per share.

Since 2001, the company has declared 76 dividends. The five-year average dividend payout ratio stands at 65.7%, with a dividend yield of 1.6%.

CRSIL is one of the leading rating agencies in India. It also provides research and risk advisory services.

The company's rating services span an entire range of debt instruments for over 8,000 companies. It has a global presence and draws most of its revenue from North America, India, and Europe.

CRISIL Dividend History (2019-23)

	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23
Dividend per share (Adj.) * (Rs)	31.7	32.8	45.9	47.9	54
Dividend payout ratio (%)	67.3	67.5	72	62.1	60
Dividend Yield (%)	1.7	1.7	1.6	1.6	1.2

*Adjusted for bonus issues and stock splits
Data Source: Equitymaster

For more details, check out the CRISIL company fact sheet and quarterly results..

#4 HCL Technologies

Fourth on the list is HCL Technologies.

The board of directors of the company is scheduled to be held on April 25 & 26, 2024 to consider the payment of Interim dividend for the financial year 2024-25

The record date for the same is fixed as 7 May 2024. The company has consistently declared dividends for the last five years. It has declared a total of 89 dividends since 2000.

The five-year average dividend payout ratio stands at 46.3%. The dividend yield over the past five years has averaged at 2.4%.

HCL Technologies is one of the world's fastest-growing IT services companies.

To its diverse client base spread across 46 countries, the company provides IT and business services, engineering, and R&D services, as well as various products and platforms.

HCL Technologies' Dividend History

	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23
Dividend per share (Adj.) (Rs)	4	10	10	42	48
Dividend payout ratio (%)	10.7	24.5	24.3	84.3	87.7
Dividend Yield (%)	0.7	2.3	1	3.6	4.4

*Adjusted for bonus issues and stock splits
Data Source: Equitymaster

For more details, check out HCL Technologies company fact sheet and quarterly results.

#5 ABB India

Last on the list is ABB India.

For the financial year 2023, the company declared a final dividend of 1,190% or Rs 23.8 per share. The record date for the same is 4 May 2024.

ABB India's financial year ends on 31 December 2023. With a good history of dividend payouts, the company has declared 25 dividends since 2001.

The average dividend payout ratio for five years stands at 32.3%. The dividend yield over the past five years has averaged 0.4%.

ABB India is one of the most reputed names in Indian infrastructure. Its operations can be divided into four major segments: electrification, process automation, motion, and robotics.

For more details, have a look at the ABB India factsheet and latest quarterly results.

ABB India's Dividend History

	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23
Dividend per share (Adj.) (Rs)	4.8	5	5.2	5.5	29.3
Dividend payout ratio (%)	33.7	46	20.7	11.4	49.7
Dividend Yield (%)	0.3	0.5	0.3	0.2	0.8

*Adjusted for bonus issues and stock splits
Data Source: Equitymaster

For more details, have a look at the ABB India factsheet and latest quarterly results.

To conclude

Dividend stocks are undoubtedly a great avenue to generate passive income. However, investors should take caution before investing, as dividends are not guaranteed.

A high level of inflation and continuous changes in monetary policies have put a strain on corporate balance sheets. One should also not buy shares of a given stock for dividend payments alone.

It's important to note that while dividend stocks can provide a level of defensiveness, they are not immune to market fluctuations. They can still experience declines in value during severe market downturns or company-specific challenges.

Thus, it's essential to conduct thorough research, assess the financial health of the company, and diversify your investment.

If you want to dig deeper, use Equitymaster's stock screener to check high dividend yield stocks and the best dividend stocks to buy.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...