3 Maharatna, Navratna & Miniratna PSU Stocks To Pay High Dividends This Month

A dividend is a reward, offered by a company to its shareholders, after making a significant amount of profit in a quarter or a fiscal year. Here, three maharatna, navratna, and miniratna stocks have been mentioned, that are set to pay high dividends in November 2022.

Power Finance Corporation

Power Finance announced 2nd interim dividend of Rs. 3 per share, on the face value of the paid-up equity shares of Rs. 10 each. The Maharatna stock has fixed the record date on November 25, 2022. The date of payment /dispatch of the aforesaid interim dividend will be on or before 9th December, 2022. The company's current market price on NSE stood at Rs. 120.40 in trade. The company has reported its highest ever quarterly PAT at Rs. 5,229.33 crore in Q2 FY23. Additionally, total income gained to Rs. 19,344.39 crore in Q2 FY23.

Oil India

Oil India, the Navratna stock announced an interim dividend of Rs. 4.5 per share (45%), and fixed the record date on November 22, 2022. The interim dividend will be paid on or before 10th December, 2022. The company's current market price on NSE stood at Rs. 197.10 in trade. The PSU company reported a 64.65% gain in consolidated net profit to Rs. 1,896.19 crore in Q2 FY23, compared to a PAT of Rs. 1,151.63 crore in Q2 FY22.

Rail India Technical and Economic Service Limited (RITES)

RITES, the miniratna stock announced an interim dividend of Rs. 4.5 per share, amounting to Rs. 108 crore for FY23 which is 45% of the paid-up capital. The record date for the purpose of payment of the dividend is November 18, 2022. The company's current market price on NSE stood at Rs. 367.60 in trade. In Q2FY23, the PSU stock's revenue stood at Rs. 684 crore; PAT stood at Rs. 140 crore. Additionally, in H1FY23, its revenue increased to Rs. 1321 crore; and PAT increased to Rs. 285 crore.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, and the author are not liable for any losses caused as a result of decisions based on the article. This article only incorporates recent stock-related information about the companies.