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In this article, we discuss 10 Indian technology stocks that pay dividends. You can skip our detailed analysis of India’s tech industry and dividend investment strategy and go straight to reading. 5 Indian Tech Stocks That Pay Dividends.
The technology industry in India is growing. According to Bloomberg, the industry has become the most important sector of the economy, contributing nearly 9% to the national GDP. In addition to this, the National Association of Software and Services Companies has mentioned that India’s technology sector revenue will reach $227 billion by 2021 from $103 billion.
Since the pandemic, many high-tech companies in India have launched their IPOs and raised record amounts of capital from private equity firms. According to a report published by CNBC, private equity investments in India reached $28.2 billion this year, a 200% increase from last year. Rajan Anandan, managing director at Sequoia Capital India, said India’s tech ecosystem is growing steadily and the analyst expects several promising IPOs in 2022. This shows that international investors are looking at the region for future investments. Moreover, some well-established technology companies that offer dividends are more attractive to shareholders, especially during periods of market volatility.
In the year After a disastrous start to 2022, investors around the world are prioritizing dividend stocks to ensure regular income streams. Usually, tech companies use their profits for growth purposes, not dividends. According to Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:META) and Alphabet Inc. Major technology companies such as (NASDAQ:GOOG) do not pay out to shareholders and use their capital for reinvestments and acquisitions. However, this article focuses on 10 dividend-paying Indian tech stocks.
Photo by Smartworks Coworking on Unsplash
Our methodology:
For this list, we have listed the top Indian tech companies that pay dividends and have attractive products. Most of these companies are listed on the National Stock Exchange of India and are ranked by the dividend yield as of August 15.
10 Indian tech stocks that pay dividends
10. Polycab India Limited (NSE:POLYCAB.NS)
Yield as of August 15: 0.58%
Polycab India Limited (NSE:POLYCAB.NS) is an Indian manufacturing company specializing in the production of cables and wires. In addition to this, the company offers a variety of consumer electronics products.
In fiscal Q1 2023, Polycab India Limited (NSE:POLYCAB.NS) reported revenues of INR 27.3 billion, up 48% compared to the same period last year. The company’s export business contributed 6.7 percent to consolidated revenue. Revenue from fast-moving electrical appliances crossed INR 3 billion, showing a year-on-year growth of 59%.
Polycab India Limited (NSE:POLYCAB.NS) has been delivering strong returns to shareholders over the years, gaining 25.4% in the past year. In the year At the close of August 14, the stock’s 5-year return was 274.4%.
Polycab India Limited (NSE:POLYCAB.NS) pays a quarterly dividend of INR 3.49 per share, and in 2018 Since August 15, it has yielded 0.58%. .
9. Birlasoft Limited (NSE:BSOFT.NS)
Yield as of August 15: 1.32%
Birlasoft Limited (NSE:BSOFT.NS) is a Pune-based software company providing services across banking, manufacturing, insurance, media and healthcare industries. As of August, the company has more than 12,200 professionals working to build sustainable communities.
In Q1 2023, Birlasoft Limited (NSE:BSOFT.NS) reported revenue of $148.6 million, up 15.8% compared to the same period last year. The company ended the quarter with $152.5 million in cash and cash equivalents and total assets of more than $438 million. The manufacturing segment represents 46.7% of the total revenue and the energy segment is 14.3%. Over the past five years, Birlasoft Limited (NSE:BSOFT.NS) has been trading at Rs. As of August 14, it has returned 381.7% to shareholders.
Birlasoft Limited (NSE: BSOFT.NS ) pays an annual dividend of INR 3 per share at a rate of 1.32% as of August 15. Average share price 500 rubles.
8. Tech Mahindra Limited (NSE:TECHM.NS)
Yield as of August 15: 1.41%
Tech Mahindra Limited (NSE:TECHM.NS) is a multinational information technology company. He has built pioneering systems, processes and solutions for enterprise clients around the world.
In Q1 2023, Tech Mahindra Limited (NSE:TECHM.NS) reported revenue of $1.6 billion, up from $41.38 billion in the same period last year. The company ended the quarter with more than $1.1 billion in cash and cash equivalents, and gross profit of $459 million. It generated nearly $72 million in free cash flow for the quarter, which turned into an after-tax profit of 50.2%. Over the past five years, Tech Mahindra Limited (NSE:TECHM.NS) has delivered 148.8% to shareholders since the close of August 14.
Tech Mahindra Limited (NSE:TECHM.NS) is one of the strongest dividend players in the Indian market and has been paying dividends to shareholders since 2002, paying a quarterly dividend of INR 3.76 per share, providing a dividend yield of 1.41%. August 15. The company’s dividend has grown at a CAGR of 37.9% over the past five years.
7. Mphasis Limited (NSE:MPHASIS.NS)
Yield as of August 15: 1.92%
Mphasis Limited (NSE:MPHASIS.NS) is an Indian multinational information technology services and consulting company based in Bengaluru. The company provides outsourcing services in infrastructure technology and applications.
In Q1 2023, Mphasis Limited (NSE:MPHASIS.NS) reported total revenue of INR 34 billion, up from INR 32.7 billion in the previous quarter. In FY22, the company reported strong free cash flow generation, with operating cash flow of INR 17 billion. Additionally, free cash flow during the year was recorded at around INR 16 billion.
Mphasis Limited (NSE:MPHASIS.NS) has been paying dividends to shareholders since 2001. The company It will pay an annual dividend of INR 46 per share at a dividend rate of 1.92% as of August 15.
6. Zensar Technologies Limited (NSE:ZENSARTECH.NS)
Yield as of August 15: 1.93%
Zensar Technologies Limited (NSE:ZENSARTECH.NS) is an IT service management company primarily engaged in technology-related consulting. The company designs and markets digital products for high-growth companies.
In Q1 2023, Zensar Technologies Limited (NSE:ZENSARTECH.NS) reported revenue of $155.9 million, up 26.3% compared to the same period last year. The US represented 70.9 percent of the company’s total revenue, while Europe accounted for 18.1 percent. The company ended the quarter with $163.5 million in cash. As of the market close on August 14, over the past five years, Zensar Technologies Limited (NSE:ZENSARTECH.NS) has gained 46.2%.
According to Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:META) and Alphabet Inc. While major tech stocks such as (NASDAQ:GOOG) are down so far in 2022, Zensar Technologies Limited (NSE) :ZENSARTECH.NS) is also down 56.3% year-to-date.
Zensar Technologies Limited (NSE:ZENSARTECH.NS) pays a quarterly dividend of INR 1.12 per share and has a dividend yield of 1.93% as of August 15th.
Click to continue reading and see 5 Indian tech stocks that pay dividends.
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Disclosure. nothing else. 10 Indian tech stocks that pay dividends Originally published on Insider Monkey.
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