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Dividend Stocks To Buy In A Falling Market
Markets have fallen a great deal and are around 8% away from the 52-week highs that we seen in the month of October. Domestic institutions have been buying continuously into the markets, while the Foreign Portfolio Investors have been selling. Here are a few dividend stocks that you can buy in a fallen market.
Coal India
Shares in Coal India offer a very good dividend to shareholders. The company has been declaring good dividend and for the financial year 2021, Coal India announced a dividend of Rs 16 per share. This translates to a dividend yield of 10.93%.
The shares of the company have fallen from 52-week highs of Rs 202, to the current levels of Rs 146. At the current market price the dividend yields are pretty good.
The company is likely to maintain a steady stream of dividends in the coming years, as demand for coal continues to rise. The shares of Coal India last closed at Rs 146.50 on the NSE.
PFC
Power Finance Corporation is a majority Government of India owned enterprise that is engaged in financing power projects. This is another stock that has been consistent in terms of dividends over the last few years. PFC has been declaring dividends per share around Rs 6 to Rs 10 for the last few years. At the current market price this works to a dividend yield ranging between 6 to 9 per cent.
We do not expect dividends to be enhanced greatly, though, there are hopes of dividends being consistent in the future.
Overall, the company has a good track record of payment of dividends and investors with a long term perspective can buy. The stock is also less volatile when compared to others.
The shares of Power Finance Corporation last closed at Rs 119 on the NSE.
A Caution About The Markets
While dividend stocks are looking attractive at the moment, we advise investors a little bit of caution, given where the markets are. If you are a long-term investor it is best the best thing to do would be to buy on declines. Avoid investing large sums and look only for investing partially and that too at declines. Investors with an appetite for risk only should buy.
Disclaimer
Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.
