Introduction
The portion of a company’s profits it shares with its shareholders is known as a dividend. It is usually in the form of assets such as cash or stocks. Investing in dividend-paying stocks can help you earn an extra income on top of your capital gains and improve your overall rate of return (RoR) on your equity investments.
In this article, we have covered the top ten stocks paying dividends in September 2023. We have also covered their ex-date (the date by which you must invest in the stock to be eligible for the dividend) and the 5-year dividend payout track record of these companies.
Vinati Organics (NSE: VINATIORGA)
Vinati Organics is a global leader in manufacturing specialty chemicals and organic intermediaries, such as 2-Acrylamido-2-methylpropane sulfonic acid (ATBS) and Isobutyl Benzene (IBB).
Started in 1989, its clientele includes some of the largest companies in Asia, Europe, and the US. It enjoys a market presence in more than 35 countries.
The company declared an equity dividend of 700% for the year ending March 2023, amounting to Rs. 7 per share.
| Announcement Date | Ex. Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 19-05-2023 | 01-09-2023 | Final | 700 | 7.00 |
| 16-05-2022 | 06-09-2022 | Final | 650 | 6.50 |
| 14-05-2021 | 24-06-2021 | Final | 600 | 6.00 |
| 15-06-2020 | 17-09-2020 | Final | 50 | 0.50 |
| 02-03-2020 | 12-03-2020 | Interim | 500 | 5.00 |
| 13-05-2019 | 16-07-2019 | Final | 350 | 7.00 |
Gujarat State Fertilizers and Chemicals Ltd. (NSE: GSFC)
Founded in 1962, Gujarat State Fertilizers and Chemicals Ltd. (GSFC) is India’s leading chemicals and fertilizer manufacturer. It is owned by the Govt. of Gujarat, with its headquarters in Vadodara. Amounting to Rs. 10 per share, GSFC declared an equity dividend of 500% for the year ending March 2023.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 25-05-2023 | 07-09-2023 | Final | 500 | 10.00 |
| 26-05-2022 | 09-09-2022 | Final | 125 | 2.50 |
| 27-05-2021 | 08-09-2021 | Final | 110 | 2.20 |
| 18-06-2020 | 14-09-2020 | Final | 60 | 1.20 |
| 22-05-2019 | 09-09-2019 | Final | 110 | 2.20 |
National Mineral Development Corporation (NSE: NMDC)
NMDC is India’s biggest iron ore producer and the 6th largest in the world. Incorporated as a Govt. of India public enterprise in 1958, it is under the administrative control of the Ministry of Steel. At Rs. 6.60 per share, NMDC declared an equity dividend of 660% for the year ending March 2023.
| Announcement Date | Ex. Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 23-05-2023 | 31-08-2023 | Final | 285 | 2.85 |
| 14-02-2023 | 24-02-2023 | Interim | 375 | 3.75 |
| 08-02-2022 | 17-02-2022 | Interim | 573 | 5.73 |
| 03-12-2021 | 14-12-2021 | Interim | 901 | 9.01 |
| 12-03-2021 | 22-03-2021 | Interim | 776 | 7.76 |
| 06-02-2020 | 18-02-2020 | Interim | 529 | 5.29 |
| 12-03-2019 | 22-03-2019 | Interim | 552 | 5.52 |
APL Apollo Tubes Ltd. (NSE: APLAPOLLO)
APL Apollo Tubes Ltd. is India’s largest Structural Steel Tubes producer. It has branch offices and warehouses across 29 cities in the country and caters to clients worldwide. The company declared an equity dividend of 250% or Rs. 5 per share for the year ending March 2023.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 12-05-2023 | 01-09-2023 | Final | 250 | 5.00 |
| 13-05-2022 | 02-09-2022 | Final | 175 | 3.50 |
| 20-05-2019 | 19-09-2019 | Final | 140 | 14.00 |
Vindhya Telelinks (NSE: VINDHYATEL)
Vindhya Telelinks is a private-public joint venture between the Madhya Pradesh State Industrial Development Corporation Ltd. and Universal Cables Ltd. It is a leading manufacturer of Optical Fiber and Jelly Filled Telecommunication Cables. The company declared an equity dividend of 150% at Rs. 15 per share for the year ending March 2023.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 18-05-2023 | 04-09-2023 | Final | 150 | 15.00 |
| 23-05-2022 | 15-09-2022 | Final | 100 | 10.00 |
| 29-06-2021 | 15-09-2021 | Final | 100 | 10.00 |
| 01-06-2020 | 10-08-2020 | Final | 100 | 10.00 |
| 17-05-2019 | 26-07-2019 | Final | 120 | 12.00 |
Banco Products (NSE: BANCOINDIA)
Banco Products (India) Ltd. is an industry leader in manufacturing engine cooling and sealing systems for automotive applications. The company declared an equity dividend of 1100% at Rs. 22 per share for the year ending March 2023.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 22-05-2023 | 07-09-2023 | Final | 700 | 14.00 |
| 13-02-2023 | 24-02-2023 | Interim | 400 | 8.00 |
| 26-05-2022 | 06-09-2022 | Final | 1000 | 20.00 |
| 25-06-2021 | 03-09-2021 | Final | 100 | 2.00 |
| 03-03-2020 | 18-03-2020 | Interim | 1000 | 20.00 |
| 30-05-2019 | 07-08-2019 | Final | 150 | 3.00 |
Triveni Engineering and Industries Ltd. (NSE: TRIVENI)
Triveni is one of the biggest integrated sugar manufacturers in India. It is also a market leader in engineering businesses, including defense, water, and wastewater treatment solutions and power transmission. The company declared an equity dividend of 325% or Rs. 3.25 per share for the year ending March 2023.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 25-05-2023 | 01-09-2023 | Final | 325 | 3.25 |
| 16-05-2022 | 12-08-2022 | Final | 200 | 2.00 |
| 27-10-2021 | 09-11-2021 | Interim | 125 | 1.25 |
| 01-07-2021 | 08-09-2021 | Final | 175 | 1.75 |
| 10-02-2020 | 18-02-2020 | Interim | 110 | 1.10 |
| 13-02-2019 | 25-02-2019 | Interim | 70 | 0.70 |
Gujarat Narmada Valley Fertilizers and Chemicals Ltd. (NSE: GNFC)
GNFC is a joint-sector enterprise promoted by the Gujarat State Fertilizers and Chemicals Ltd. (GSFC) and the Govt. of Gujarat. For the year ending March 2023, the company declared an equity dividend of 300% or Rs. 30 per share.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 18-05-2023 | 18-09-2023 | Final | 300 | 30.00 |
| 09-05-2022 | 19-09-2022 | Final | 100 | 10.00 |
| 19-05-2021 | 18-08-2021 | Final | 80 | 8.00 |
| 10-07-2020 | 20-08-2020 | Final | 50 | 5.00 |
| 29-05-2019 | 22-08-2019 | Final | 70 | 7.00 |
Gravita India Ltd. (NSE: GRAVITA)
Established in Jaipur in 1992, Gravita India Ltd. is one of the biggest lead producers in India. The company declared an equity dividend of 217.50% or Rs. 4.35 per share for the year ending March 2023.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 02-05-2023 | 04-09-2023 | Final | 217.5 | 4.35 |
| 31-01-2022 | 08-02-2022 | Interim | 150 | 3 |
| 28-01-2021 | 08-02-2021 | Interim | 55 | 1.1 |
| 24-02-2020 | 05-03-2020 | Interim | 35 | 0.7 |
| 29-05-2019 | 11-09-2019 | Final | 15 | 0.3 |
PTC India (NSE: PTC)
PTC India Ltd. (PTC) was established in 1999 as a Govt. of India public-private partnership initiative and is a leading provider of power trading solutions in the country. At Rs. 7.8 per share, the company declared an equity dividend of 78% for the year ending March 2023.
| Announcement Date | Ex-Date | Dividend Type | Dividend (%) | Dividend (Rs.) |
| 25-08-2023 | 20-09-2023 | Final | 78 | 7.8 |
| 08-12-2022 | 15-12-2022 | Final | 58 | 5.8 |
| 12-11-2021 | 25-11-2021 | Interim | 20 | 2 |
| 24-06-2021 | 08-09-2021 | Final | 55 | 5.5 |
| 09-11-2020 | 19-11-2020 | Interim | 20 | 2 |
| 19-06-2020 | 14-09-2020 | Final | 55 | 5.5 |
| 14-05-2019 | 20-09-2019 | Final | 40 | 4 |
Dividend-paying stocks usually pay at a growing rate, increasing your annual passive income. They are also more stable than non-dividend-paying stocks. While dividend-paying stocks can stabilize your portfolio, they are subject to market risks. During company-specific challenges or severe downturns, they can still experience a drop in value.
To create a portfolio that delivers the maximum returns while minimizing risks, it is imperative to conduct thorough research into the financial health of companies before investing in them and diversifying your investments.
*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.