Dividend paying stock yields 17.6% in 2022. Beats PPF, bank FD return

Dividend paying stock: Shares of Indian Card Clothing Company Ltd are one of those dividend paying stocks listed on Dalal Street that have given whopping dividend yield in 2022. Indian Card Clothing Company shares traded ex-dividend two occasions in 2022 giving net dividend of 50 per equity share to its shareholders in the year gone by.

Indian Card dividend history

As per the information available on BSE website, the dividend paying stock traded ex-dividend on 12th May 2022 for payment of 25 per equity share final dividend. Likewise, it traded ex-dividend on 7th July 2022 for payment of 25 per share interim dividend.

Indian Card Clothing dividend yield

Indian Card Clothing Company share price at the end of 31st December 2021 session was at 283.80 apiece levels. So, if some one had bought Indian Card shares around these levels at the end of 2021 and had remained invested in this stock till date, the investor would have received total dividend payment of 50 per share in 2022 against an investment of around 285 apiece. This means, the dividend yield for the shareholder of Indian Card Clothing Company shares had been around 17.60 per cent.

Dividend yield betas PPF, bank FD returns

Comparing 17.6 per cent dividend yield of Indian Card against the risk-free guaranteed return schemes like Public Provident Fund (PPF) and bank fixed deposit (FD) returns, the dividend yield is more than double than these guaranteed return schemes. In 2022, PPF interest rate remained at 7.10 per cent per annum, which was payable at quarterly basis whereas average bank FD rates surged from around 5 per cent to near 6 per cent. So, this 17.6 dividend yield of Indian Card shares is 2.50 times of PPF interest and around 2.9 times of average bank FD returns in 2022.

Indian Card share price history

However, if we look at Indian Card share price movement in 2022, it ended at 228.20 apiece levels on the last trade session of 2022 that means the stock logged 19.50 per cent loss in the year 2022. The dividend paying stock has slipped further in 2023 and Indian Card share price today is around 217.60 per share and around three and half hour trade is still left on Monday session.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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