Stocks To Buy Now That Will Give Dividends Of Rs 140 To 190 Per Share This Month

If you buy the stocks of Oracle Financial Services and Bajaj Auto you are likely to receive very good dividends of Rs 190 per share and Rs 140 per share. Let's take a look.

Oracle Financial Services: Buy the stock for a dividend yield of 5.61%

The board of the company recently declared a dividend of Rs 190 per share. The book closure for the stock has been fixed as May 17, 2022, which means you need to buy the stock before the end of the week. What is most interesting about the stock is that the company consistently declares very good dividends every year and the yields on the stock are close to 5.6%. The shares like the stock markets have fallen in tandem, with the stock now trading at Rs 3550, against a 52-week high of Rs 5000. The company reported a good set of quarterly numbers for the quarter ending March 31, 2022. Apart from this the stock also trades at a very low p/e multiples of 15 times, which is significantly lower than peers in the business.

Oracle Financial: Good quarterly performance

Oracle Financial Services, is a majority owned subsidiary of Oracle, saw net income for fiscal year 2022 at Rs 1,889 Crore, up 7% compared to fiscal year 2021. Revenue for fiscal year 2022 was Rs. 5,221 Crore, up 5% compared to te previous year 2021. Operating income for the year also increased to Rs. 2,394 Crore, up 2% compared to fiscal year 2021.

For the quarter ended March 31, 2022, the revenue was Rs. 1,277 Crore, up 5% year-over-year; the operating income was Rs. 528 Crore, down 6% year-over-year; and the net income was Rs. 482 Crore, up 5% year-over-year. For the full year ended March 31, 2022, the Products business posted revenue of Rs. 4,692 Crore, up 6% compared to fiscal year 2021, and operating income of Rs. 2,452 Crore, up 3% year-over-year. For the quarter ended March 31, 2022, the Products business posted revenue of Rs. 1,154 Crore, up 7% year-over-year and an operating income of 542 Crore down, 3% year-over-year.

With good financial performance, a low p/e of 15 and high dividend yields of 5.6%, the shares of Oracle Financial Services are a good buy at the current levels.

Bajaj Auto

Like Oracle Financial Services, the stock of Bajaj Auto is a good share to buy for its strong dividend yields. The board of the company tends to declare dividends around the Rs 140 per share mark, which takes the dividend yield to around 4% based on the current market price of Rs 3550. The board of the company has fixed the record date for dividend as July 1. The ex dividend date for the stock is June 30. Ideally, you should be buying the stock by June 29 to be entitled to dividends. The shares of Bajaj Auto apart from its dividends are also attractive in terms of fundamentals. The company has sizeable cash and liquid holdings of more than Rs 17,000 crores and a p/e of around 15 times. Buy the stock if you are a long term investor, who looks for regular dividends.