REC and 5 other stocks that pay dividends higher than bank FD rates
Annual dividend yield of IOCL currently stands at whopping 16.75%, which is more than long term equity mutual fund return that an investor expects
Dividend paying stock becomes an attraction for shareholders during result season as it is an additional income that a long term investor enjoys over the short term investors or traders. It keeps a shareholder to stick with its conviction even when the the market is under bears' grip. Recently, REC Ltd has announced ₹5 per equity interim dividend to its shareholders for the financial year 2022-23. As REC shares are quoting at around ₹96.50 apiece today. Its dividend yield is more than 5 per cent, an average bank fixed deposit yield in small time horizon or say one year. In fact, if we go at the annual dividend yield of REC Ltd, then we would find that the Navratna NBFC has given total dividend of ₹13.30 per equity share in FY22, which is much higher than average bank fixed deposit interest rate of near 6 per cent.
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