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2 Auto Stocks To Buy Now That Will Give You 800% And 1400% Dividends
If you are looking at high dividend yielding stocks to buy for steady and stable dividends every year, you could look at the stocks of Bajaj Auto and Maharashtra Scooters. Both have an enviable track record of distributing profits.
Maharashtra Scooters
This company has been declaring dividends for decades now. In fact, at last 2 decades we have seen non stop dividends, no matter what. The latest dividend is 800% or Rs 80 per share, taking dividend yields to more than 2%. The record date for the dividends has been finalized as June 1, 2022. So, investors have time to buy the stock until the end of May to receive dividends.
Maharashtra Scooters started manufacture of "Priya" brand of motorised geared scooters from 13th August, 1976, in technical know-how / collaboration with erstwhile BAL. Subsequently, the Company started manufacture of "Bajaj Super" / "Bajaj Chetak" models of scooters and with the gradual shift in consumer preferences from geared scooters to the motorcycles, the Company discontinued production of geared scooters effective 1st April, 2006. The manufacturing activity of the Company is currently restricted to the manufacture of pressure die casting dies, jigs and fixtures, primarily meant for two and three - wheeler industry.
Bajaj Auto
This is another 2-wheeler stock that has a solid track record of declaring dividends and bonus shares. The company has declared a dividend of 1400% or Rs 140 per share. This translates into a dividend yield of 3.26% at the current market price. Bajaj Auto is a good stock to buy for its consistent dividend yields over the years. The company recently reported a 10% increase in net profits to Rs 1468 crores.
For the month of April, unit sales were ot too impressive. In fact, the company reported a 20 per cent decline in total sales to 3,10,774 units in April. Bajaj Auto had sold 3,88,016 units in the year-ago period, according to data released by the company. The stock has fallen from a 52-week high of Rs 4000 to the current price. Even if one does buy the share now and receives the dividend, the cost of acquisition would be lower by Rs 140 on account of the divided. Investors who have a long-term view can buy into the stock.
Disclaimer
Investing in equities poses a risk of financial losses and investors should understand the nature of the risk. 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.
