ICICI Securities: Dividend Per Share Of CPSE Stocks To Improve Over FY20-23
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ICICI Securities Report
As an addendum to our earlier note on dividend yield strategy which indicated that: 1) the central public sector enterprises index has the highest dividend yield of approximately 6% amongst all benchmark indices and 2) the current environment of negative real interest rate is positive for dividend yield stocks, we dived deeper into the prospects for dividend payout from CPSE stocks.
Based on consensus forecasts for CPSE index stocks (where available) it is apparent that the dividend per share for most CPSE stocks are expected to rise over FY20-23.
The rise in dividend per share is supported by rising earning per share and free cash flow from operations over the same period.
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