PSU Stocks Upcoming Dividends: 3 Defence, 3 NBFC PSUs Interim Dividends Record Dates In Next 2 Weeks

As March is nearing its end, there is a long list of PSU stocks that are awaiting to reward its investors with interim dividends for FY24. 6 PSU stocks from the defence and NBFC segment will turn ex-dividend in the next weeks. These are Bharat Electronics, Bharat Dynamics, PFC, REC Ltd, HUDCO, and MIDHANI. The highest dividend payout is to the tune of 70%.

These PSU stocks are multi-baggers with impressive growth in the long term. Dividends are among many incentives that listed companies share with their investors from the profitability of their respective financial year. The important dates for dividends are the ex-dividend, record and payment dates.

Notably, these six PSUs are also among the top dividend yield stocks.

Bharat Electronics Dividend:

On BSE, BEL's share price stood at Rs 185.55 apiece, down by 2.3% with a market cap of Rs 1,35,632.95 crore. The aerospace & defence giant has surged by a whopping 100.31% in a year on BSE. In 5-years, the stock has seen over 511% jump.

BEL has declared a second interim dividend of Rs 0.70 per share (70%) of the face value of Rs 1 each fully paid up for the financial year 2023-24. The second interim dividend will be paid within 30 days from the date of declaration. The record date to determine eligible shareholders is fixed on March 23, 2024.

For FY24, BEL earlier also paid its first interim dividend of Rs 0.70 apiece or 70%. In FY23, the payout was 180% amounting to Rs 1.8% per share.

BEL is among the elite group of Public Sector Undertakings, which has been conferred the Navratna status. The growth of the company mirrors the advances in defence electronics in India.

Mishra Dhatu Nigam Ltd Dividend:

Yet another defence stock, MIDHANI has declared an interim dividend of Rs 1.41 per equity share (@14.10%) of Rs. 10/-each for the financial year 2023-24. The record date has been fixed on March 22, 2024. This dividend payout is the first interim dividend for FY24. In FY23, the company paid dividends u to 33.50% valuing Rs 3.35 per share.

MIDHANI's share price is currently at Rs 360.90 apiece, with a market cap of Rs 6,761.10 crore. In a year, MIDHANI shares have rallied by 92.29% on BSE. Its performance is robust by 160.82% on BSE so far in a 5-year movement.

The PSU is under the administrative control of Department of Defence Production, Ministry of Defence, for manufacture of Superalloys, Titanium alloys and Special purpose Steels required for strategic sectors like Aeronautics, Space, Defence, Atomic Energy, Navy, Special products like Molybdenum wires & plates, Titanium and Stainless Steel Tubes, Alloys for electrical and electronic application like Soft Magnetic alloys, Controlled Expansion alloys and Resistance alloys.

Power Finance Corporation Dividend:

Indian power sector's largest financier, PFC is also among the hot PSU stocks to turn ex-dividend later in March. PFC also has one of the highest dividend yields in PSU stocks.

The power-pack NBFC is set to a third interim dividend of 30% valuing to Rs 3 per share having a face value of Rs 10 each for FY24. Earlier, PFC paid the first and second interim dividends of Rs 4.50 per share (45%), and Rs 3.50 per share (35%) for FY24. In the financial year 2022-23, PFC delivered dividends up to 132.50% amounting to Rs 13.25 per share. Its dividend yield is at 3.65%.

For the third interim dividend, PFC has fixed March 22, as the record date, while the payment date is scheduled on or before April 10, 2024.

On BSE, PFC shares are currently at Rs 362.55 apiece, with a market cap of Rs 1,19,645.19 crore. In a year, PFC shares have zoomed by over 200.4% on BSE, while in 5-years, the stock is up by 300.34% as of now.

Incorporated on July 16th, 1986, Power Finance Corporation Ltd. is a Schedule-A Maharatna CPSE and is a leading Non-Banking Financial Corporation in the Country. PFC plays a crucial role in the rise of India as a global player. Increasingly, a country's development is gauged by measuring its energy usage. With a large fraction of our nation still, unfortunately, without any access to electricity, PFC will become an increasingly important factor in the years to come.

Housing & Urban Development Corporation (HUDCO) Dividend:

HUDCO is another NBFC of government, but largely financier to the real estate sector. The company will be in focus on Wednesday, March 20, as its board of directors will be meeting to consider the declaration of interim dividend for the Financial Year 2023-24. The company has already fixed March 29, as the record date for determining eligible shareholders. This will be HUDCO's first dividend for FY24.

In FY23, the company paid up to 38.50% dividend valuing to Rs 3.85 per share.

On BSE, HUDCO's share price is currently at Rs 177.20 apiece, with a market cap of Rs 35,473.67 crore. In a year, HUDCO's stock jumped by 299.01% on BSE, while in 5-years, the share has skyrocketed by 295.09%.

A Public Sector Company, under the Ministry of Housing and Urban Affairs (MoHUA), HUDCO has been a key partner with the Government in building assets for the Nation. In its operations, HUDCO lays a considerable emphasis on the housing needs of the "deprived" that is Economically Weaker Sectors (EWS) and Low-Income Groups (LIG).

REC Ltd Dividend:

The latest to declare a dividend is NBFC giant REC Ltd. On March 19, REC announced a third interim dividend of Rs ~4.50 (Rupees Four and Paise Fifty only) per equity share for the financial year 2023-24. For the said interim dividend, the record is fixed on Thursday, March 28, 2024, and the said interim dividend shall be paid on or before April 17, 2024, to those shareholders, whose names appear (a) as beneficial owners in the statement(s) furnished by the depository(ies) as of the record date.

Earlier, for FY24, the company paid the first interim dividend of Rs 3 apiece (30%), and the second interim dividend of Rs 3.50 apiece (35%) respectively. In FY23, the company paid dividends up to 126% aggregating to Rs 12.6 per share.

REC share price stood at Rs 429.50 apiece, with a market cap of Rs 1,13,096.97 crore on BSE. In a year, the stock soared by 269.61% on BSE, while its 5-year performance is robust with 269.61% upside.

REC is a 'Maharatna' company, providing long-term loans and other financing products to State, Centre and Private Companies for the creation of infrastructure assets in the country. As of 31st December 2023, REC had a Loan Book of ₹4.97 Lakh Cr with 90% loans to the state sector. The Net Worth of the company stood at Rs 64,787 Cr.

Bharat Dynamics Dividend:

BDL's dividend recommendations are yet to come. However, as per the regulatory filing, BDL said that the board of directors will meet on 21, March 2024, to discuss payment of the Interim Dividend for the financial year 2023-24. This will be BDL's first interim dividend for FY24.

But BDL holds a strong track record of paying dividends. In FY23, the company paid up to 93.50% dividend amounting to Rs 9.35 per share.

On BSE, BDL shares are at Rs 1624.10 apiece with a market cap of Rs 29,766.71 crore. In a year, the stock is up by 78.78%, but in 5 years, BDL is a multi-bagger with a nearly 469% surge.

Bharat Dynamics Limited (BDL), was incorporated on 16th July 1970 in Hyderabad, Telangana as a Public Sector Undertaking under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces.

Disclaimer: The write-up highlights about the latest development in stock and its dividends, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.