Top 4 Stocks Paying Dividends in October 2023

I'm sure you've heard rumors about the US government shutdown. It all depends on the debt ceiling and by Monday, we'll get to know if the government will actually shut shop.

That might transpire in some volatile sessions in the coming days, so be prepared.

These kind of diplomatic and geopolitical tension along with recession risks are very often, and investor might wonder if any part of their stock portfolio will generate steady returns in the coming months.

Of course, there are no guarantees in investing. But investors looking for stability in the storm for their stock allocations could consider focusing more on steady dividend payers.

Dividend investing has a reputation for providing attractive long-term returns, and in particular, attractive long-term risk-adjusted returns.

This is due to their defensive advantages, including less downside volatility in weaker market conditions on average.

This not only allows investors to benefit from potential growth, but it also provides them with a consistent income stream.

Let's take a look at four stocks that are paying dividends in October 2023.

#1 Accelya Solutions

First on the list is Accelya Solutions.

For the financial year 2023, the board of Accelya Solutions declared a dividend of Rs 30 or 300% on the face value of Rs 10 per share.

The record date for the same is 6 October 2023.

The company has remained a consistent dividend payer. Since 2002, the company has declared 30 dividends.

The five-year average dividend payout ratio stands at 88.8%. The dividend yield over the past five years has averaged 4%.

The company is a leading solutions provider to the global Airline, Logistics, and Travel (ALT) industry.

The company has a large global footprint with operations spread across 11 countries. It accounts for and manages more than 5 bn financial transactions and 75 m tons of cargo annually.

It caters to more than 250 airline customers, travel agents, and shippers worldwide.

To know more, check out Accelya Solutions factsheet and quarterly results.

Accelya Solutions' Dividend History (2019-23)

	19-Jun	20-Jun	21-Jun	22-Jun	23-Jun
Dividend per share (Adj.) * (Rs)	32	10	52	62	65
Dividend payout ratio (%)	44.9	17.2	183.9	121.5	76.6
Dividend Yield (%)	3.7	1.1	4.5	7	3.9

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

#2 Angel One

Second on the list is Angel One.

The company will schedule a meeting on 12 October 2023 to approve unaudited standalone and consolidated financial results along with 2nd interim dividend.

The record date for the interim dividend is 20 October 2023.

Angel One has already declared a Rs 41.5 per share dividend in the last 12 months.

The company has maintained a good record of dividends and consistently declared dividends for the last five years. It has declared 14 dividends since November 2020.

The five-year average dividend payout ratio stands at 31.1%. The dividend yield over the past five years has averaged 1.9%.

Angel Broking, now known as Angel One, is the largest independent listed full-service retail broking house in India, with more than 9.2 m clients and 3.7 m active clients on NSE.

Presently, the company is engaged in the business of stock currency and commodity broking, providing margin trading facilities and much more.

To know more, check out the Angel Broking company fact sheet and quarterly results.

Angel Broking's Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) * (Rs)	2.3	2.3	12.5	26.8	39.6
Dividend payout ratio (%)	24.3	22.4	35.3	35.9	37.3
Dividend Yield (%)	0	0	4.4	1.8	3.4

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

#3 LTI Mindtree

Next on the list is LTI Mindtree.

The Board of Directors of the company scheduled a meeting on 18 October 2023 to consider and approve financial results for the September 2023 quarter and interim dividend.

The company has fixed 27 October 2023 as the record date for payment of the interim dividend.

It has declared a total of 16 dividends since 2016.

The five-year average dividend payout ratio stands at 32.9%. The dividend yield over the past five years has averaged 1.4%.

LTI Mindtree is the fifth largest IT company in the country, formed by the merger of L&T Infotech (LTI) and Mindtree.

It is one of the emerging blue chips stocks that has a strong global presence across North America, Europe, and the rest of the world, with over 700 active clients.

To know more, check out LTI Mindtree's financial factsheet and latest quarterly results.

LTI Mindtree’s Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) * (Rs)	16.4	16.5	23.6	32.6	29.9
Dividend payout ratio (%)	32.1	32.1	36.1	24.4	40.2
Dividend Yield (%)	1.7	2	1	0.9	1.3

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

#4 HCL Technologies

Last on the list is HCL Technologies.

The meeting scheduled for 12 October 2023 will discuss the payment of the interim dividend for the September 2023 quarter.

The company has fixed 20 October 2023 as the record date for determining the entitlement of the shareholders for the payment of the interim dividend.

In the current fiscal so far, the company has already paid a whopping 1,400% dividend.

The company announced a dividend of Rs 10 per share for the record date of 20 July 2023 and Rs 18 per share for the record date of 28 April 2023.

This IT company has a knack for declaring big consecutive dividends. Since 2006, the company has declared 85 dividends in total.

Ever since the financial year 2013-14, the company has paid dividends consistently during all quarters.

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

HCL Technologies (formerly Hindustan Computers Limited) is an Indian multinational information technology services and consulting company headquartered in Noida.

It emerged as an independent company in 1991 when HCL entered the software services business.

To know more, check out HCL Technologies factsheet and quarterly results.

HCL Technologies’ Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
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
Dara Source: Equitymaster

To conclude

Dividend paying stocks usually pay a dividend at a growing rate. This increases the amount of passive income every year.

Dividends also act as a defensive strategy during market downturns, as they exhibit more stability compared to non-dividend-paying stocks.

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.

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...