High Dividend Paying Stock: Sanjiv Bhasin's TOP PSU pick is Coal India
high dividend paying stock: sanjiv bhasin’s top psu pick is coal india
Sanjiv Bhasin Stock, Coal India Share Price Target 2024: Veteran market expert Sanjiv Bhasin has named a high dividend paying PSU stock as his top pick. During a conversation with ET NOW Swadesh, the ace investor said that PSUs are in a sweet spot and that one should not worry during the correction if the view is long term.
The PSU stock which Sanjiv Bhasin has recommended to ET NOW Swadesh viewers is Coal India. Coal India is PSU stock under Rs 500.
Coal India, he said, is unquestionable the largecap stock which one should have in the portfolio. He said that the company is almost debt free and it pays a good dividend.
Coal India Share Price Target 2024
Sanjiv Bhasin recommended buying Coal India shares at the current price. According to him, the first target for Coal India shares is Rs 485. The second target set by Sanjiv Bhasin for Coal India shares is Rs 525.
Coal India Dividend Yield
Coal India is one of high dividend yield stocks. Coal India dividend yield is more than 5 per cent on each stock.
Coal India Dividend 2024
Coal India recently announced to pay a whopping 50 per cent dividend on each share of Rs 10 face value. This translates into a payout of Rs 5.
“Recommended payment of Final Dividend for the financial year 2023-24 at Rs 5 per share of the face value of Rs 10,” Coal India said in an exchange filing.
Coal India dividend record date will be announced in the due course.
Coal India Dividend History
According to BSE website, Coal India had in February 2024 paid a dividend of Rs 5.25 on each stock to its investors. In 2023, the state-run company had rewarded its investors by paying dividend thrice — Rs 15.25 in November, Rs 4 in August and Rs 2.25 in February.
Back in 2022 and 2021, Coal Indian had paid Rs 23 and Rs 17.50, respectively, as dividend on each stock.
Coal India Share Price History
Coal India is a constituent of S&P BSE 100. According to BSE analytics, Coal India shares have climbed 40 per cent in the last 6 months. In one year, Coal India shares have yielded a solid return of 92 per cent on each stock. In the last two and three years, Coal India shares have made its investors wealthier by a whopping 148 per cent and 232 per cent, respectively.
Coal India commands a market cap of Rs 2,79,941.93 crore, according to BSE website.
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(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)