5 Stocks Paying More Than 600% Dividend in November 2024

Remember the story of the man who killed the golden goose? In his greed for more, he destroyed his steady source of gold.

Some investors make a similar mistake by putting all their money into growth stocks, chasing only high returns. In doing so, they often overlook the risk of significant drawdowns.

Like the man who would have been better off keeping the goose alive, investors are often safer diversifying into dividend stocks.

These stocks typically offer stable income and modest capital growth and serve as a cushion during financial crises.

For those seeking dividend-paying opportunities, here are five stocks set to pay dividends in November.

#1 HUL

First on the list is HUL.

On 23 October 2024, Hindustan Unilever Limited (HUL) announced an interim dividend of Rs 19 per equity share, or 1,900% of the face value of Re 1 each, for the financial year ending 31 March 2025.

Additionally, HUL declared a special dividend of Rs 10 per equity share, or 1,000%, delivering substantial returns to its shareholders.

The record date to determine shareholders' entitlement for both the interim and special dividend is 6 November 2024.

The company has maintained a good record of dividends and consistently declared dividends for the last five years. It has declared 52 dividends since November 2001.

The five-year average dividend payout ratio stands at 95%. The dividend yield over the past five years has averaged 1.6%.

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.

HUL's Dividend History (2020-24)

	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24
Dividend per share (Adj.) (Rs)	23	41.5	34	39	42
Dividend payout ratio (%)	80	118.9	89.9	90.3	96
Dividend Yield (%)	1.1	1.7	1.7	1.5	1.9

*Adjusted for bonus issues and stock splits
Source: Equitymaster

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

#2 Colgate

Next on the list is Colgate.

On 24 October 2024, Colgate recommended an interim dividend of Rs 24 per equity share with a face value of Re 1, equating to 2,400% for FY25.

The record date for this dividend is set for 4 November 2024.

The company has been consistent in paying dividends to its shareholders since 2001. It has declared 64 dividends since 25 July 2001.

In the last five years, its dividend payout and dividend yield have averaged 96.7% and 2.3%, respectively.

Colgate-Palmolive manufactures and distributes consumer products. The company operates via personal, oral, home care, and pet nutrition segments.

The small soap and candle business that William Colgate began in New York City early in the 19th century is now, more than 200 years later, a global company serving hundreds of millions of consumers worldwide.

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.

Colgate's Dividend History (2020-24)

	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24
Dividend per share (Adj.) (Rs)	28	38	40	39	58
Dividend payout ratio (%)	93.3	99.8	100.9	101.3	88.4
Dividend Yield (%)	2.1	2.6	2.5	2.5	1.9

*Adjusted for bonus issues and stock splits
Source: Equitymaster

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

#3 P&G Hygiene & Healthcare

Next on the list is P&G Hygiene & Healthcare.

The board of directors on 29 August 2024 the company announced a final dividend of 950% on its face value. The record date for the same was set as 19 November 2023.

At the face value of Rs 10 per share, shareholders will receive a healthy dividend of Rs 95 for each share they own as of the record date.

Since year 2000, the company has declared 32 dividends.

The five-year average dividend payout ratio of the company stands at 118.2%. The dividend yield over the past five years has been 1.3%.

P&G Hygiene is one of the leading female healthcare consumer goods companies in India. Its business is divided into two segments - hygiene and healthcare.

Its well-known brands include Whisper, Oral B, Vicks, and Olay. It has two manufacturing facilities and an extensive distribution network in India.

P&G Hygiene's Dividend History

	Jun-20	Jun-21	Jun-22	Jun-23	Jun-24
Dividend per share (Adj.) (Rs)	105	315	160	185	255
Dividend payout ratio (%)	78.7	156.9	145	88	122.6
Dividend Yield (%)	1	2.4	1	1.1	1.2

*Adjusted for bonus issues and stock splits
Source: Equitymaster

To know more, check out the P&G Hygiene's factsheet and the latest quarterly results.

#4 Nuvama Wealth Management

Next on the list is Nuvama Wealth Management.

On October 26, 2024, the company announced an interim dividend of Rs 63 per equity share, based on a face value of Rs 10 each, representing a substantial payout of 630% for the financial year 2025.

The record date for the same is 7 November 2024.

Nuvama Wealth Management Ltd. has declared 2 dividends since August 2024.

In the past 12 months, Nuvama Wealth Management Ltd. has declared an equity dividend amounting to Rs 81.50 per share.

At the current share price of Rs 6,557.7, Nuvama Wealth Management Ltd.'s dividend yield is 1.2%.

Nuvama Wealth is a wealth management company in India that offers various financial services.

Nuvama Wealth offers a range of products across asset classes, including fixed income, structured products, alternatives, equity, credit, mutual funds, and insurance.

For more details, see the Nuvama Wealth Management company fact sheet and quarterly results.

#5 P&G Health

Last on the list is P&G Health.

For the financial year 2023, P&G Health declared a final dividend of Rs 60 per share or 600% on face value of Rs 10 each.

This is in addition to an interim dividend of Rs 200 per share, which included a one-time special dividend of Rs 150.

The company has fixed 28 November 2024 as the record date for payment of the interim dividend.

Since 2001, it has rewarded its shareholders 31 times.

The five-year dividend payout ratio of the company stands at 87.3%. The five-year average yield of the company is 2.4%.

Procter and Gamble Health is one of India's largest vendor management companies in the pharmaceutical sector.

The company manufactures and markets over-the-counter products, vitamins, and minerals. It is the sole supplier of pharmaceutical chemicals, industrial chemicals, chemicals, and chemical products.

The company offers prescription drugs, biotechnology products, and consumer health products.

Procter and Gamble Health's Dividend History

	Jun-20	Jun-21	Jun-22	Jun-23	Jun-24
Dividend per share (Adj.) (Rs)	230	130	52.5	95	260
Dividend payout ratio (%)	150.3	122.1	46	68.7	49.6
Dividend Yield (%)	5.7	2.3	1	1.8	1.2

*Adjusted for bonus issues and stock splits
Source: Equitymaster

To know more, check out Procter and Gamble Health's factsheet and its quarterly results.

Which Other Companies are Declaring Dividends in November 2024?

Apart from the above five, here are some other companies that are set to declare dividend in November 2024.

Company	Dividend (%)	Dividend (in Rs)	Record Date
Gillette India	450	45	27-Nov-24
Patanjali Foods	400	8	04-Nov-24
Allsec Tech	300	30	06-Nov-24
Navin Fluorine	250	5	07-Nov-24
Cyient	240	12	06-Nov-24
Shriram Finance	220	22	07-Nov-24
Coal India	157.5	15.7	05-Nov-24
Sasken Tech	120	12	05-Nov-24

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...