10 Stocks Paying More than 200% Dividend in September 2022

We all have that one close friend who is available at all times for you. No matter what time of the day, whether it's raining or not, anytime you ask them, "up for a snack?", they will always say yes!

Similarly, there are companies that pay dividends to their shareholders even in a bad financial year. These are the kind of companies that you should look for while investing.

Dividend paymasters provide investors relief. Irrespective of the market performance, they turn out to be a passive source of income.

Regular dividend payment is of the qualities of fundamentally strong stocks. Consistent dividend-paying companies are a blessing for investors.

In this article, we take a look at 10 companies that are paying more than 200% dividend in September 2022.

You can also check out our recent editorial on stocks paying dividend in October 2022.

Keep all these dividend paying stocks in you watchlist as markets remain volatile in the near term.

Let's get started...

#1 Bharat Bijlee

For the financial year 2021-2022, Bharat Bijlee has declared a final dividend of 300% amounting to Rs 30 per share. The company declared this final dividend on 19 May 2022

The company has fixed 21 September 2022 as the record date for paying out this dividend.

Since 2003, Bharat Bijlee has paid 16 dividends. However, it did not pay any dividends from 2014-2017.

On average, in the past 5 years, Bharat Bijlee has paid a dividend of Rs 12.5 per share. This year's dividend yield is 1.8% at the current price.

The dividend payout ratio for the year was 30.4%.

Bharat Bijlee is a leading electrical engineering company based in India. Established in 1946, its primary business segments are power transformers, electric motors, etc. The company is headquartered in Mumbai.

Bharat Bijlee Dividend History

Particulars	2018	2019		2020	2021	2022
Dividend per share	2.5	12.5		12.5	5.0	30.0
Dividend payout ratio (%)	2.3	17.0		15.5	10.8	30.5
Dividend Yield (%)	0.2	1.1		2.2	0.4	1.8

Source: Equitymaster

#2 AGI Greenpac

For the financial year 2021-2022, AGI Greenpac has declared a final dividend of 250% amounting to Rs 5 per share. The company declared this final dividend on 11 May 2022.

The company has fixed 15 September 2022 as the record date for paying out this dividend.

Since 1997, AGI Greenpac has paid 27 dividends.

On average, in the past 5 years, AGI Greenpac has paid a dividend of Rs 3.8 per share. This year's dividend yield is 1.8% at the current price.

The dividend payout ratio for the year was 16.7%.

AGI Greenpac, formerly known as HSIL, is the largest Indian sanitary ware manufacturer. The company is in the business of manufacturing selling and trading building products, glass products, plastic packaging products, consumer products, and the retail business.

AGI Greenpac Dividend History

Particulars	2018	2019	2020	2021	2022
Dividend per share	4.0	3.0	3.0	4.0	5.0
Dividend payout ratio (%)	39.0	31.0	44.8	29.4	16.7
Dividend Yield (%)	0.9	1.0	1.8	3.3	1.8

Source: Equitymaster

#3 Empire Industries

For the financial year 2021-2022, Empire Industries has declared a final dividend of 250% amounting to Rs 25 per share. The company declared this final dividend on 25 May 2022.

The company has fixed 13 September 2022 as the record date for paying out this dividend.

Since 2004, Empire Industries has paid 20 dividends.

On average, in the past 5 years, Empire Industries has paid a dividend of Rs 25 per share. This year's dividend yield is 3.5% at the current price.

The dividend payout ratio for the year was 63.3%.

Empire Industries is a listed public company incorporated on 17 October 1900. It is located in Mumbai, Maharashtra.

The company is engaged in the textile processing industry, manufactures engineering equipment, manufactures glass hollow-ware, machine tools, commodity and specialty chemicals, and bulk drugs.

Empire Industries Dividend History

Particulars	2018	2019	2020	2021	2022
Dividend per share	25.0	25.0	25.0	25.0	25.0
Dividend payout ratio (%)	32.1	34.2	43.9	113.6	63.3

Source: Equitymaster

#4 Transpek Industries

For the financial year 2021-2022, Transpek Industries has declared a final dividend of 225% amounting to Rs 22.5 per share. The company declared this final dividend on 1 July 2022.

The company has fixed 7 September 2022 as the record date for paying out this dividend.

Since 2005, Transpek Industries has paid 18 dividends. However, it did not pay any dividends in 2021.

On average, in the past 5 years, Empire Industries has paid a dividend of Rs 14.3 per share. This year's dividend yield is 1.2% at the current price.

The dividend payout ratio for the year was 19.2%.

Established in 1965, Transpek Industry went public in September 1978. It started with the manufacture of acrylic plastic sheets at its plant at Atladra (Vadodara) Gujarat.

It is one of the most responsible producers and exporters of chemicals.

Transpek Industries Dividend History

Particulars	2018	2019	2020	2021	2022
Dividend per share	9.0	20.0	12.5	7.5	22.5
Dividend payout ratio (%)	19.0	17.0	9.6	18.0	19.2
Dividend Yield (%)	0.9	1.4	0.8	0.4	1.2

Source: Equitymaster

#5 Asahi India Glass

For the financial year 2021-2022, Asahi India Glass has declared a final dividend of 200% amounting to Rs 2 per share. The company declared this final dividend on 25 May 2022.

The company has fixed 9 September 2022 as the record date for paying out this dividend.

Since 2016, Asahi India Glass paid 7 dividends in.

On average, in the past 5 years, Asahi India has paid a dividend of Rs 1.3 per share. This year's dividend yield is 0.4% at the current price.

The dividend payout ratio for the year was 37.9%.

Asahi India Glass, known as AIS, is a glass solution and manufacturing company in India. It was established in 1984. It manufactures automotive safety glass, float glass, architectural processed glass, and glass products.

Asahi India Glass Dividend History

Particulars	2018	2019	2020	2021	2022
Dividend per share	1.5	1.0	1.0	1.0	2.0
Dividend payout ratio (%)	21.2	13.4	17.2	20.0	37.9
Dividend Yield (%)	0.5	0.4	0.6	0.3	0.3

Source: Equitymaster

#6 Patanjali Foods

For the financial year 2021-2022, Patanjali Foods (erstwhile Ruchi Soya) has declared a final dividend of 250% amounting to Rs 5 per share. The company declared this final dividend on 27 May 2022.

The company has fixed 27 September 2022 as the record date for paying out this dividend.

Note that Patanjali Foods did not pay any dividends between 2016 and 2021. The last dividend it paid was in 2015 when it declared Rs 0.16 (8% on face value) as dividend.

Patanjali Foods is engaged primarily in the business of processing of oil seeds and refining of oil for edible use.

Backed by Baba Ramdev, the stock is one of the multibagger stocks of 2022, currently trading at its 52-week high.

Did you know that the company is also engaged in the renewable wind energy business? Now you know...

#7 Hinduja Global

For the financial year 2021-2022, Hinduja Global has declared a final dividend of 250% amounting to Rs 25 per share. The company declared this final dividend on 30 May 2022.

The company has fixed 27 September 2022 as the record date for paying out this dividend.

This final dividend is in addition to the interim dividend of Rs 5 declared in August this year.

Apart from this, the company has also rewarded its shareholders by declaring bonus shares in February this year.

Hinduja Global Solutions is engaged in the business of business process management (BPM). It offers voice and non-voice based services such as contact center solutions and back office transaction processing across the globe.

Hinduja Global has a track record of paying consistent dividends.

For more details, check out Hinduja Global's dividend payout over the years.

#8 Polyplex Corporation

For the financial year 2021-2022, Polyplex Corporation has declared a final dividend of 210% amounting to Rs 21 per share. The company declared this final dividend on 25 May 2022.

The company has fixed 24 September 2022 as the record date for paying out this dividend.

This final dividend is in addition to two bumper interim dividends of Rs 35 and Rs 15 declared in February 2022 and November 2021.

Polyplex Corporation is engaged in the packaging industry and it manufactures films used in the flexible packaging industry and in industrial usages.

The company comes with extensive experience as it has been in the industry for more than 33 years.

Polyplex Corporation has a good track record of paying dividends at a growth rate.

To know more, check out Polyplex Corp's dividend history.

#9 Ambika Cotton

For the financial year 2021-2022, Ambika Cotton has declared a final dividend of 350% amounting to Rs 35 per share. The company declared this final dividend on 30 May 2022.

The company has fixed 23 September 2022 as the record date for paying out this dividend.

Ambika Cotton is engaged in manufacturing and selling speciality cotton yarn catering to the needs of manufacturers of premium branded shirts and t-shirts.

It's also one of the leading exporters of cotton yarn in India. The company derives nearly 70% of its revenue from exports.

It is among the top multibagger textile stocks in India.

Ambika Cotton has a track record of paying consistent dividends, having paid dividends consistently since 1998 with only exception being year 2017.

To know more, check out Ambika Cotton's dividend payout history.

#10 LIC Housing Finance

For the financial year 2021-2022, LIC Housing has declared a final dividend of 425% amounting to Rs 8.5 per share. The company declared this final dividend on 18 May 2022.

The company has fixed 21 September 2022 as the record date for paying out this dividend.

LIC Housing is a housing finance company registered with National Housing Bank (NHB) and is mainly engaged in financing purchase and construction of residential flats.

LIC Housing is a dividend growth stock in India, having consistently increased its payout per share over the years.

To know more, check out LIC Housing's dividend payout history.

Investment Takeaway

Consistent dividend-paying companies can be good investments. But investors should keep in mind that when a company pays dividends, it is cutting back on the money it can invest in its business.

Dividend payments are extra costs incurred by the company. An investor should check thoroughly whether the company can afford to pay the dividends that it is paying and whether the pay-outs will continue.

One of the most successful investors, Peter Lynch says,

The extravagance of any corporate office is directly proportional to management's reluctance to reward shareholders.

Hence, Peter Lynch believes that miserly companies perform well in the business. He believes that a company that cuts back on extra expenses saves a lot and performs better.

Hence, an investor should take a holistic approach while planning his investments.

In the meantime, also check out the below video where Richa Agarwal explains the concept of dividend investing.

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...