High-dividend yield scrips surged 147% in a year

The 330 companies which offered dividend yields of over six per cent as on April 30, 2003, recorded a 147 per cent gain in their market capitalisation in a year.

Of the 330 firms, the prices of 178 (54 per cent) stocks appreciated by over 100 per cent each, and 91 stocks moved up by 50-100 per cent. In the same period the Bombay Stock Exchange (BSE) Sensex gained 91 per cent.

The dividend yield of eight stocks was between 20 per cent and 35 per cent, while for 94 firms it was between 11 per cent and 20 per cent.

For the remaining 216 firms, the yield was between 6 per cent and 10 per cent. Dividend yield is the dividend per share as a percentage of the market price.

Mercator Lines was quoted at Rs 24 a year ago, translating into a dividend yield of 9.17 per cent. The price of the stock appreciated by a whopping 1,075 per cent in the last one year to Rs 282.10. The company paid a dividend of Rs 2.20 per share for fiscal 2003 on a face value of Rs 10 per share.

Subros, which was traded at Rs 30.90 a year ago with a dividend yield of 7.12 per cent, gained a hefty 771 per cent within a year to Rs 269.14. Subros also paid a dividend of Rs 2.20 per share for 2002-03. For fiscal 2004-05, the company has proposed a bonus issue in the ratio of 1:1.

Balkrishna Industries had a higher dividend yield of 23.86 per cent as the company paid a dividend of Rs 6 per share and its market price was Rs 25.15. The company's stock price gained 745.70 per cent to Rs 212.70 in a year. HCL Infosystems paid a 100 per cent dividend (Rs 10 per share) on a face value of Rs 10 per share.

The stock was traded at Rs 95.65 a year ago at a dividend yield of 10.45 per cent, and appreciated by 645.8 per cent to Rs 713.35 now.

Dai-Ichi Karkaria (up 625.6 per cent), Bilcare (up 623 per cent), Hindustan Sanitaryware (up 507.4 per cent), Sterlite Industries (up 498.6 per cent), IVRCL Infrastructures (up 431.5 per cent), Elder Pharma (up 419.7 per cent), CCL Products (up 410.9 per cent), Alok Industries (up 407.1 per cent), LG Balkrishnan (up 405.7 per cent) and Valecha Engineering (up 402.2 per cent) are some of the high dividend-yielding stocks which saw prices appreciating sharply in the past one year.