Top 5 Stocks Paying Big Dividends in November 2023

High dividend-paying stocks are the most sought-after on the street as they reward investors with consistent payouts irrespective of the market sentiments.

They can be wealth-compounding machines that pay shareholders a portion of their profits.

However, picking dividend stocks for your portfolio can seem overwhelming because so many options exist.

To ease this challenge, we've curated a list of five stocks that are set to offer robust dividends in November 2023.

#1 Nestle

First on the list is Nestle.

The board of directors of Nestle India has declared a second interim dividend for the year 2023. Before this, the company had already paid an interim dividend of Rs 27 in April 2023.

The record date for this upcoming dividend has been fixed as 1 November 2023.

Furthermore, the board is also actively deliberating the possibility of implementing a stock split.

Nestle India has consistently paid dividends every quarter. Since 2001, the company has paid 68 dividends in total.

The five-year average dividend payout ratio stands at 101.8%. The dividend yield over the past five years has averaged 1.5%.

Nestle India is the Indian subsidiary of Nestle, which is a Swiss multinational company.

The company's products include food, beverages, chocolate, and confectioneries.

For more details, check out Nestle India factsheet and quarterly results.

Nestle's Dividend History (2018-22)

	18-Dec	19-Dec	20-Dec	21-Dec	Dec-22
Dividend per share (Adj.) * (Rs)	115	342	200	200	220
Dividend payout ratio (%)	69	167.5	92.6	91	88.7
Dividend Yield (%)	1	2.3	1.1	1	1.1

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

#2 HUL

Second on the list is HUL.

The company will schedule a meeting on 19 October 2023 to approve unaudited standalone and consolidated financial results along with interim dividends.

The record date for the interim dividend is 2 November 2023.

Earlier, Hindustan Unilever Ltd (HUL) declared a final dividend of Rs 22 per share for the financial year ended March 2023 or 2,200% of the face value of Re 1 per share.

The company has maintained a good record of dividends and consistently declared dividends for the last five years. It has declared 49 dividends since November 2001.

The five-year average dividend payout ratio stands at 91.6%. The dividend yield over the past five years has averaged 1.5%.

Hindustan Unilever Ltd (HUL) is a subsidiary of Unilever, one of the world's leading suppliers of food, home care, personal care, and refreshment products.

The company has 50-plus brands under its roof, spanning 15 categories - foods, beverages, cleaning agents, and more. It's a zero-debt company with rock-solid long-term fundamentals.

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

HUL's Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) * (Rs)	20.3	23	41.5	34	39
Dividend payout ratio (%)	78.6	80	118.9	89.9	90.3
Dividend Yield (%)	1.3	1.1	1.7	1.7	1.5

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

#3 Asian Paints

Third on the list is Asian paints.

The board of directors scheduled a meeting on 26 October 2023 to consider and approve financial results for the September 2023 quarter and interim dividend.

The company has fixed 3 November 2023 as the record date for payment of the interim dividend.

It has declared a total of 50 dividends since 2000.

The five-year average dividend payout ratio stands at 52.2%. The dividend yield over the past five years has averaged 0.7%.

Asian Paints is one of India's most well-known and finest paint companies.

The firm has business in 15 countries and has 26 paint production sites worldwide, serving customers in over 60 nations, making it one of the top paint companies.

For more details, see the Asian Paints company fact sheet and quarterly results.

Asian Paints' Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) * (Rs)	10.5	12	17.9	19.2	25.7
Dividend payout ratio (%)	46.5	42.3	53.9	59.5	58.6
Dividend Yield (%)	0.7	0.7	0.7	0.6	0.9

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

#4 Colgate

Fourth on the list is Colgate.

The company has scheduled a meeting on 26 October 2023 to decide the interim dividend. The FMCG major has fixed 6 November 2023 as the record date for payment of interim dividend.

The company has been consistent in paying dividends to its shareholders since 2001. It has declared 61 dividends since 25 July 2001.

In the last five years, its dividend payout and dividend yield have averaged 94.3% and 2.3%, respectively.

The company has maintained its leadership since 1990, Colgate has over 51% market share in toothpaste, 48% in toothpowder, and 30% share in the toothbrush market.

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

Colgate's Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) * (Rs)	23	28	38	40	39
Dividend payout ratio (%)	80.7	93.3	99.8	100.9	101.3
Dividend Yield (%)	1.9	2.1	2.6	2.5	2.5

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

#5 RITES

Last on the list is RITES.

The midcap PSU Navratna will consider and approve the second interim dividend on 31 October 2023.

The company has fixed Wednesday, 8 November 2023, as the record date for payment of the second interim dividend.

Earlier this year, in August 2023, the company paid an interim dividend of Rs 3.8.

Rites has declared 20 dividends since 11 September 2018.

The five-year average dividend payout ratio stands at 69.6%. The dividend yield over the past five years has averaged 5.8%.

The company is a leading player in India's transport consultancy and engineering sector. The company offers to consult for railways, airports, highways, and ports in India and abroad.

It also offers services such as third-party inspection, quality assurance, project management, export of rolling stock, and modernisation of railway workshop projects.

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

RITES' Dividend History (2019-23)

	19-Mar	20-Mar	21-Mar	22-Mar	23-Mar
Dividend per share (Adj.) * (Rs)	10.6	16.7	13	17	20.5
Dividend payout ratio (%)	52.1	63.2	70.5	75.9	86.3
Dividend Yield (%)	4.9	6.5	5.4	6.5	5.8

*Adjusted for bonus issues and stock splits
Data 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...