4 Dividend Stocks You Should Buy In A Depressed Market
Markets have been falling since last couple of months and yesterday
Sensex fell more than 750 points. Market is 10% off its peak price. In such
scenario, stocks that pay dividend become extremely attractive . So let’s look
at 4 dividend paying stocks that we can
buy
Coal India
Coal India stock price is down at 181 level from its 52-week high
levels of Rs 292. At the current price based on the dividends of last year, the
Coal India shares offer you a dividend yield of 7.24 per cent. This is more
than FD interest rates offered by bank deposits. It is important to remember
that dividends are tax free in the hands of investors, while interest on bank
deposits are not. This makes buying stocks like Coal India with a good dividend
yield a good bet at the current levels.
ONGC
ONGC can be is another good bet for its dividend yield. At the current
market price (CMP) of Rs 117, the stock is at its 52-week low. Dividend yield
on the stock is close to 6 per cent, which is very attractive. ONGC is India's
largest oil and gas exploration major, with business prospects very assured and
stable.
Jagran Prakashan
This stock can give to a dividend of Rs 3.5 per share. At CMP of Rs
63, the dividend yield on the stock works to around 5.6 per cent. Jagran
Prakashan is one of the top players in the digital, print and radio business.
The company owns the Dainik Jagran (largest read newspaper in India), Radio
City and Mid-day (Mumbai's largest read evening newspaper). The PE of the stock
is just 8 making it a good long term bet
Karnataka Bank
Karnataka Bank
This bank has never missed declaring dividends for many years now. The
board of the bank last declared a dividend of Rs 3.5 per share in 2019. Even if
the same dividend is retained, the dividend yield on the stock works to a
decent 4.7 per cent at a stock price of Rs 75. Even the price to book stands at
0.5 which makes it extremely attractive.
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