CDI, SCT, MCK - 3 NZX penny stocks that are due to pay dividends in May

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CDI, SCT, MCK - 3 NZX penny stocks that are due to pay dividends in May

 CDI, SCT, MCK - 3 NZX penny stocks that are due to pay dividends in May
Image source: Yuriy K,shutterstock.com

Highlights

  • Many small-priced firms have paid dividends to their stockholders at a time when many companies were reducing or delaying dividend payments.
  • CDI announced a final dividend of 3.5cps and is due to pay a dividend on 11 May 2022.

  • Scott announced an interim dividend of 4cps and is due to pay a dividend on 11 May 2022.

Dividends play a significant role in stock selection by investors as they provide a steady source of income.

Many small-priced firms have paid dividends to their stockholders at a time when many companies are reducing or delaying dividend payments. CDL Investments, Scott Technology and Millennium & Copthorne Hotels are some of the companies that are due to pay their interim/final dividends in May this year.

Here's a list of 3 dividend-paying penny stocks that trade for less than $5 per share.

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CDL Investments New Zealand Limited (NZX:CDI)

Engaged in the property investment business, CDI is an NZ-based firm that has a market cap of $316.2 million and has delivered a YTD return of -2.78%.

CDI announced a final dividend of 3.5cps with the ex-dividend date as 28 April. The payment date for the dividend is 11 May 2022 and imputation credits attached to it are 1.361 cents.

ALSO READ: 10 top NZX Dividend Stocks with more than 6% yield

CDI will hold its 2022 annual meeting on 24 May 2022. The High Court rejected the judicial review report this month, brought by Winton Property Investments Limited in 2021.

CDI ended the day 2.8% in red to close at $1.04.

Scott Technology Limited (NZX:SCT)

Smart automation and robotics solutions provider Scott has a market cap of $244 million and has given a YTD return of -8%.

SCT announced an interim dividend of 4cps with the ex-dividend date as 28 April. The payment date for the dividend is 11 May 2022.

Related Read: RAK, SCT, WDT- Why these 3 NZ tech stocks are in focus?

In its H1 FY22 results, the Company reported a 13% increase in sales, totalling $118.4 million, owing to continued demand for automation.

SCT ended the day flat to close at $3.08.

Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK)

Auckland-based hotel operator MCK has a market cap of $252 million and has given a YTD return of 6%.

MCK announced a final dividend of 3.5cps and has the ex-dividend date as 5 May. The payment date for the dividend is 13 May 2022.

GOOD READ: NZK & GEO: Why do these 2 penny stocks see-saw on NZX?

MCK notified that its 2022 annual shareholder meeting will occur on 24 May 2022 and will be a hybrid meeting. The Group expects travelers in the second half of the year due to high vaccination rates in key markets and resuming of international travel to NZ.

MCK ended the day flat to close at $2.47.

Bottom Line

Dividends provide stockholders with a consistent stream of revenue. Many small businesses have managed to pay dividends to their shareholders despite COVID-19-related interruptions.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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