5 Stocks to Watch Out for Upcoming Dividends in April 2024

The stock market can be a thrilling yet nerve-wracking ride. But what if you could build wealth with a more predictable approach? Enter dividend investing! Dividend investing offers a reliable path to wealth creation, with the bonus of inflation protection.

These tried-and-true companies reward you with regular payouts, putting your money to work while you sleep.

But with so many options, finding the ideal dividend stock can be a challenge. High yields are tempting, but long-term stability is what truly matters.

For those looking to enhance their portfolio with dividend income, here are five stocks worth watching for dividend income in April 2024.

#1 CRISIL

First on the list is CRISIL.

The Board of Directors has recommended a final dividend of Rs 28 per equity share or 2800% 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 1 April 2024.

In the past 12 months, CRISIL has declared an equity dividend amounting to Rs 77 per share.

Since 2001, the company has declared 75 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)

	19-Dec	20-Dec	21-Dec	22-Dec	23-Dec
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
Source: Equitymaster

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

#2 TVS Holding

Second on the list is TVS Holding.

TVS Holdings, formerly Sundaram Clayton, has announced an interim dividend of whooping 1,888% or Rs 94 per share for the financial year 2024, absorbing a sum of Rs 190 crore in the current financial year.

The company will pay the dividend on 20.2 million (m) equity shares with a face value of Rs 5 each.

The company has fixed 2 April 2024 as the record date for the payment of Rs 94 payout, which is the highest-ever dividend declared by the company.

TVS Holdings has declared 46 dividends since 2001.

The five-year average dividend payout ratio stands at 9.7%, with a dividend yield of 1.4%.

TVS Holdings is one of the largest auto components manufacturing and distribution groups in the country.

It is a leading supplier of aluminium die castings to the automotive and non-automotive sectors.

TVS Holdings' Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) (Rs)	36	31	26	44	59
Dividend payout ratio (%)	9.7	10	8.9	10.8	9
Dividend Yield (%)	1.2	2.1	0.8	1.2	1.6

*Adjusted for bonus issues and stock splits
Source: Equitymaster

For more details, see the TVS Holdings company fact sheet and quarterly results.

#3 Schaeffler India

Third on the list is Schaeffler India.

The Board of Directors of the Company at its meeting held on 16 February 2024, recommended the final dividend of Rs 26 per equity Share (i.e. 1300%).

The company has fixed 19 April 2024 as the record date.

In the past 12 months, Schaeffler India has declared an equity dividend amounting to Rs 24 per share.

Schaeffler India has declared 25 dividends since 2001.

The five-year average dividend payout ratio stands at 20.9%, with a dividend yield of 0.8%.

Schaeffler India Limited, previously known as FAG Bearings India, is one of India's major ball and rolling bearing manufacturers servicing the automotive and multiple core industrial segments.

The Schaeffler Group is a top provider of innovative solutions to the industrial and automotive sectors.

Schaeffler India's Dividend History

	19-Dec	20-Dec	21-Dec	22-Dec	23-Dec
Dividend per share (Adj.) (Rs)	1.4	1.5	3.2	24	26
Dividend payout ratio (%)	6	8.2	8	42.7	40
Dividend Yield (%)	0.7	0.8	0.9	0.9	0.9

*Adjusted for bonus issues and stock splits
Source: Equitymaster

For more details, check out Schaeffler India's company fact sheet and quarterly results.

#4 Ashok Leyland

Fourth on the list is Ashok Leyland.

Ashok Leyland has declared an interim dividend of Rs 4.9 per share for the financial year 2024.

The record date for determining the members eligible to receive the said dividend has been fixed on Wednesday, 3 April 2024.

In the past 12 months, Ashok Leyland has declared an equity dividend amounting to Rs 2.6 per share.

Ashok Leyland has declared 23 dividends since June 2001.

The dividend yield over the past five years has averaged 1.6%.

The company is the second-largest manufacturer of commercial vehicles in India, the third-largest manufacturer of buses in the world, and the tenth-largest manufacturer of trucks globally.

It also manufactures bulletproof vehicles and ambulances for the Indian Army.

Ashok Leyland Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) (Rs)	3.1	0.5	0.6	1	2.6
Dividend payout ratio (%)	41.3	31.9	-253.1	-102.8	56.1
Dividend Yield (%)	3.4	1.2	0.5	0.9	1.9

*Adjusted for bonus issues and stock splits
Source: Equitymaster

For more details, check out Ashok Leyland's financial factsheet and latest quarterly results.

#5 Vesuvius India

Last on the list is Vesuvius India.

For the financial year 2024, Vesuvius India declared a dividend of 127% or Rs 12.7 per share.

The record date for the same is fixed as 11 April 2024.

With a good history of dividend payouts, the company has declared 24 dividends since 2002.

The average dividend payout ratio for five years stands at 19.6%. The dividend yield over the past five years has averaged 0.6%.

Vesuvius India is engaged in the manufacture of specialised ceramics required in the continuous casting process of steel making.

The products manufactured are shrouds monoblock, stoppers submerged nozzles and tundish nozzles.

Vesuvius India's Dividend History (2019-23)

	19-Dec	20-Dec	21-Dec	22-Dec	23-Dec
Dividend per share (Adj.) (Rs)	8.7	7	8	8.2	12.7
Dividend payout ratio (%)	20.7	26.8	23.9	14	12.2
Dividend Yield (%)	0.8	0.6	0.7	0.5	0.4

*Adjusted for bonus issues and stock splits
Source: Equitymaster

For more details, have a look at the Vesuvius India company fact sheet and 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...