150%-2800% Dividends Ahead; 2 Financial Stocks To Fixed Record Date In March For Eligible Shareholders

Two financial stocks in the basket of small-caps and midcaps are among the hot upcoming dividend payouts. These are IIFL Securities and CRISIL. While IIFL is a multi-bagger with triple-digit growth in a year, CRISIL has also given double-digit returns to its investors. The companies are going to reward investors with a payout of 150% to 2800%.

IIFL Securities Dividend:

IIFL Securities has recommended an interim dividend of Rs. 3/- per equity share of the face value of Rs. 2/- each (i.e. 150%) for the financial year 2023-2024. The record date for the said purpose is March 15, 2024. The said interim dividend shall be paid/dispatched on or before March 30, 2024.

Last year as well, IIFL paid dividends up to 150% amounting to Rs 3 per share.

Currently, it has a dividend yield of 2.26%. IIFL's current market price is at Rs 132.65 apiece, with a market cap of Rs 4,081.70 crore. In a year, IIFL's share advanced by 133%.

In Q3FY24, IIFL Securities' total income stood at Rs 582.3 crore for the quarter (up 68% y-o-y) and Rs 1,526.9 crore for the nine months(up 58%. Total Comprehensive Income stood at Rs150.4 crore for the quarter (up 134% y-o-y) and Rs 331.7 crore for the nine months (up 105% y-o-y) y-o-y). Assets under management and custody stood at Rs 1,81,582 crore.

IIFL Securities is one of the key capital market players in the Indian financial services space. IIFL Securities along with its subsidiaries offers advisory and broking services, financial products distribution, institutional research and investment banking services.

CRISIL Limited Dividend:

This financial services provider, CRISIL has recommended a final dividend of Rs. 28, per equity share of face value of Re 1 each, for the financial year ended December 31, 2023. The stock will turn ex-dividend for its payout on March 28. In percentage terms, the payout is to the tune of 2800%.

Taking this into consideration, CRISIL's dividend payout will be to the tune of 5,400% amounting to Rs 54 per share in the financial year that ended on December 2023.

Currently, CRISIL has a dividend yield of 1.1%.

In the last quarter of 2023, CRISIL posted a consolidated revenue from operations of Rs 917.74 crore, as against Rs 822.26 crore in the same quarter a year, and Rs 735.87 crore in the preceding quarter. Consolidated net profit is at Rs 210.12 crore in Q4 of 2023, as compared to Rs 158.02 crore in Q4 of 2022, and Rs 151.99 crore in Q3 of 2023.

CRISIL is a leading, agile and innovative global analytics company driven by its mission of making markets function better. It is India's foremost provider of ratings, data, research, analytics and solutions with a strong track record of growth, a culture of innovation, and a global footprint.

CRISIL's share currently is at Rs 4933.25 apiece on BSE with a market cap of Rs 36,070.80 crore. In a year, the stock has zoomed by 46% on the exchange.