Dividend yield of this stock beats PPF, EPF, bank FD return in FY23. Do you own?
- Dividend yield of this dividend paying stock in FY23 is 11.60%
Dividend paying stock: Shares of Coal India Ltd are one of the high dividend yield stocks in FY 2022-23. As per the information available on official BSE website — bseindia.com, Coal India shares have traded ex-dividend on three occasions paying ₹23.25 per share dividend in current fiscal, giving net dividend yield to the tune of 11.60 per cent in this time.
Coal India dividend in FY23
As mentioned above, Coal India share has traded ex-dividend on three occasions in financial year 2022-23. It first became one of the dividend paying stocks on 11th August 2022 for payment of ₹3 per share final dividend. Later on, Coal India shares traded ex-dividend for ₹15 per share interim dividend payable in the financial year 2022-23. On 8th February 2023, this dividend paying stock once again traded ex-dividend for ₹5.25 per share interim dividend payment to the eligible shareholders.
Dividend yield of Coal India shares in FY23
Hence, net dividend given by this dividend paying PSU stock is ₹23.25 ( ₹3 + ₹15 + ₹5.25). At the beginning of financial year 2022-23, Coal India shares were available at around 200 apiece, which means Coal India dividend yield in FY23 is to the the tune of 11.60 per cent [{(3 + 15 + 5.25) / 200} x 100]. To calculate Coal India dividend yield, investment value has been assumed ₹200 per share, which was Coal India share price at the beginning of the financial year 2022-23.
PPF, EPF, bank FD return lags behind
Comparing PPF interest rate, EPF return and bank FD interest rate during FY23, we would come to know that PPF interest rate throughout the FY23 has remained unchanged at 7.10 per cent, EPF return in which some investors put addition money by opting voluntary provident fund (VPF), has remained unchanged at 8.10 per cent whereas bank FD rates have surged from around 5 per cent at the beginning of FY23 to around 7 per cent per annum levels now. So, all these risk-free small saving schemes have delivered lesser return than Coal India dividend yield of 11.60 per cent in FY23.
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