Eight Companies Confident to Raise Dividends for Shareholders

There are quite a few companies that are confident in their cash flow and profitability that they are sharing increased dividends with their shareholders. I believe this shows management’s confidence in their business prospects going into next financial year. There are many companies, but for now, below is the shortlist of eight companies for this week.

• Visaka Industries Ltd. [2009, Rs 4.00, +33%] [2008, Rs 3.00]
• ADF Foods Ltd. [2009, Rs 1.50 +50%] [2008, Rs 1.00]
• Tilak Nagar Industries. [2009, Rs 2.50, +19%] [2008, Rs 2.10]
• Keltech Energies Ltd. [2009, Rs 2.50, +100%] [2008, Rs 0.00]
• J. K. Paper Ltd. [2009, Rs 1.75, +16%] [2008, Rs 1.50]
• Joyti Structures Ltd. [2009, Rs 0.90, +12%] [2008, Rs 0.80]
• Triton Valves Ltd. [2009, Rs 15.00, +20%] [2008, Rs 12.50]
• ICI India [2009, Rs 16.00, +100%] [2008 Rs 8.00]

Below is the shortlist of companies that continue to keep their dividends flat (i.e. they have neither increased nor decreased compared to last year).

• Everest Kanto Cylinder Ltd. [2009, Rs 1.20, flat] [2008, Rs 1.20]
• Voltamp Transformers Ltd. [2009, Rs 12.50, flat] [2008, Rs 12.50]
• Blue Star Ltd. [2009, Rs 7.00, flat] [2008, Rs 7.00]
• Ajanta Pharma. [2009, Rs 2.50, flat] [2008, Rs 2.50]
• Chambal Fertilizer. [2009, Rs 1.80, flat] [2008, Rs 1.80]
• Zuari Industries. [2009, Rs 3.00, flat] [2008, Rs 3.00]
• Diamines and Chemicals Ltd. [2009, Rs 1.00, flat] [2008, Rs 1.00]

Below is the list of companies that reduced their dividends. As a long term dividend (or income) investor, I would be concerned of these dividend cutters.

• MRO Tek Ltd. [2009, Rs 1.00, -66%], [2008, Rs 3.00]
• Bank of Maharashtra Ltd. [2009, Rs 1.50, -25%] [2008, Rs 2.00]
• Oriental Hotels Ltd. [2009, Rs 9.00, -14%] [2008, Rs 10.50]
• MM Forgings Ltd. [2009, Rs 1.50, -70%] [2008, Rs 5.00]
• Ashok Leyland Ltd. [2009, Rs 1.00, -33%] [2008, Rs 1.50]