5 high dividend stocks up more than 80% in 2024

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₹3.5 per share in January 2024. With a consistent dividend payout over the past 15 years and an average dividend yield of at least 2% since 2018, the company is on a solid trajectory. Also, the company is executing several plans that will grow its revenue in the medium term.

Cochin Shipyard's strategic expansions—including a new dry dock, a 600-tonne gantry crane, and an upgraded International Ship Repair Facility—are set to enhance its shipbuilding and repair capabilities significantly. Its acquisition of Temba Shipyards and focus on defence and alternative fuel vessels under the CRUISE 2030 plan further secure its position as a frontrunner in the shipbuilding industry poised for growth from India's push towards self-reliance. Next is OFSS, with its shares surging 80% in 2024 and generous dividends of ₹225 and ₹240 per share.

IT companies usually declare big dividends or reward shareholders by way of buybacks. In case of OFSS, the company has increased its dividend payout consistently throughout the years. Starting 2024, OFSS share prices woke up from a long period of underperformance and almost doubled from ₹4,300 at the start of 2024.

Initially, the stock price moved up after the IT company reported strong earnings performance for the December quarter, with net profit rising 69.4% on year ₹7.4 billion. Managing director and chief executive Makarand Padalkar had said that licence fee signings aided margins during the quarter. “Our license fee signings were $49.5 million across our product lines for both Cloud/SaaS and on-premises deployment modes.