Top 5 Dividend Stocks to Watch Out for in February 2023

In the current volatile market where nothing is permanent, it is foolish to rely on one or two sources of income. That's why it is important to set up passive sources of income.

This awareness has led many people to turn to dividend stocks. Not only do they help during uncertain times, but the reinvestment also helps in increasing the value of one's portfolio.

Here are the top 5 stocks you can add to your watchlist as they are set to pay dividends in February 2023.

#1 CAMS

First on the list is Computer Age Management Services (CAMS).

The company is India's largest registrar and transfer agent of mutual funds with an aggregate market share of approximately 70% based on mutual fund average assets under management. The variety of services provided by CAMS plays an important role in developing and maintaining its clients' market perception.

For the March 2023 quarter, CAMS has fixed 15 February 2023 as the record date for the interim dividend.

The company paid a dividend of Rs 38.8 per share for the financial year 2022. The dividend payout ratio stood at 66%, while the end-of-year dividend yield stood at 1.7%.

The company has declared 10 dividends since 19 November 2020.

The five-year average dividend pay-out ratio stands at 76%. The dividend yield over the past five years has averaged 1%.

To know more, check out CAMS factsheet and quarterly results.

CAMS Dividend History (2018-2022)

Year End	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22
Dividend per share (Adj.) (Rs)	14.9	22.4	12.1	62.7	38.7
Dividend Payout Ratio (%)	48.9	81.1	34.6	149.6	66
Dividend Yield (%)	0	0	0	3.4	1.7

Source: Equitymaster

#2 Thangamayil Jewellery

Next on the list is Thangamayil Jewellery.

It is one of the leading jewellery retailers based in Madurai, Tamil Nadu.

With 53 stores spread out in Tamil Nadu, its shareholders include mutual funds like SBI Magnum Children's benefit fund, SBI Conservative hybrid fund and SBI small cap fund.

For the March 2023 quarter, Thangamayil Jewellery has fixed 1 February 2023 as the record date for interim dividend.

The company paid a dividend of Rs 10 per share for the financial year 2022. The dividend payout ratio stood at 35.6%, while the end-of-year dividend yield stood at 0.9%.

The company has declared 17 dividends since 19 March 2010.

The average payout ratio over the last five years stands at 22.1%, while the average dividend yield stands at 1.4%.

To know more, check out Thangamayil Jewellery factsheet and quarterly results.

Thangamayil Jewellery Dividend History (2018-2022)

Year End	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22
Dividend per share (Adj.) (Rs)	2.5	2.5	5.0	5.0	6.0
Dividend Payout Ratio (%)	22.7	15.0	15.8	35.6	20.6
Dividend Yield (%)	1.5	2.1	1.7	0.9	1.2

Source: Equitymaster

#3 Gillette India

Next on the list is Gillette India.

The company is engaged in the manufacturing and selling of branded packaged goods in the grooming and oral care businesses.

Gillette reached success because it invested time and energy in learning about the preferences of Indian customers. And it continues to do the same.

For the March 2023 quarter, Gillette India has fixed 9 February 2023 as the record date for the interim dividend.

The company paid a dividend of Rs 69 per share for the year that ended in June 2022. The dividend payout ratio stood at 174%, while the end-of-year dividend yield stood at 1%.

The company has declared 30 dividends since 11 July 2001.

The five-year average dividend payout ratio stands at 91.5%. The dividend yield over the past five years has averaged 1.1%.

To know more, check out Gillette India factsheet and quarterly results.

Gillette India Dividend History (2018-2022)

Year End	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22
Dividend per share (Adj.) (Rs)	23	44	49	119	69
Dividend Payout Ratio (%)	32.7	56.7	69.4	124.9	174
Dividend Yield (%)	0.4	1	1	2.1	1

Source: Equitymaster

#4 Accelya Solutions

Next on the list is Accelya Solutions.

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

For the March 2023 quarter, Accelya Solutions has fixed 2 February 2023 as the record date for the interim dividend.

The company paid a dividend of Rs 62 per share for the year that ended in June 2022. The dividend payout ratio stood at 121.5%, while the end-of-year dividend yield stood at 7%.

The company has declared 29 dividends since 19 September 2002.

The five-year average dividend payout ratio stands at 89%. The dividend yield over the past five years has averaged 4%.

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

Accelya Solutions Dividend History (2018-2022)

Year End	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22
Dividend per share (Adj.) (Rs)	46	32	10	52	62
Dividend Payout Ratio (%)	77	44.9	17.2	183.9	121.5
Dividend Yield (%)	3.9	3.7	1.1	4.5	7

Source: Equitymaster

#5 Share India Securities

Next on the list is Share India Securities.

The company is engaged in the business of share and stock broking, portfolio management, research analysis, mutual funds distribution and other related activities.

For the March 2023 quarter, Share India Securities has fixed 13 February 2023 as the record date for interim dividend.

The company paid a dividend of Rs 6 per share for the financial year 2022. The dividend payout ratio stood at 9.5%, while the end-of-year dividend yield stood at 0.5%.

The company has declared 10 dividends since 9 March 2020.

The average payout ratio over the last five years stands at 4.3%, while the average dividend yield stands at 0.5%.

To know more, check out Share India Securities factsheet and quarterly results.

Share India Securities Dividend History (2018-2022)

Year End	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22
Dividend per share (Adj.) (Rs)	0	0	0.5	2	6
Dividend Payout Ratio (%)	0	0	4	7.9	9.5
Dividend Yield (%)	0	0	1.1	0.8	0.5

Source: Equitymaster

To conclude

As dividend stocks are usually less volatile than others, investors prefer them. Even the father of value investing, Benjamin Graham, advocates for the same.

In his book, The Intelligent Investor, he wrote -

• The true investor will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.

True to this, dividend stocks continue to be a boon for investors.

However, like any other stock, it is necessary to analyse these stocks before making an investment decision.

You can shortlist dividend-paying stocks in just a few seconds using Equitymaster's powerful stock screener.

Here are the dividend screens that should help you get started in the world of dividend investing.

High Dividend Yield Stocks

Top Dividend Paying Stocks

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...