Coal India, Oil India, Oil and Natural Gas Corporation (ONGC) among other public sector undertaking (PSU) stocks are part of the top 10 dividend-paying companies, according to domestic brokerage firm Religare Broking.
‘’We have filtered the list of top dividend-paying companies based on their fundamental strength and selected 10 stocks. Investors, interested in dividend income, can consider these stocks for investment,” said Religare Broking in its report.
At a dividend yield of 7.7 per cent, Coal India tops the list of the highest dividend-paying companies, followed by Oil India at a yield of 6.7 per cent. In FY22, Coal India’s dividend per share (DPS) stood at ₹17 and in FY23, the DPS stood at ₹24.3, according to the brokerage.
Here are the top 10 dividend-yield stocks:
1.Coal India: At a current market price (CMP) of ₹314, the coal miner gave a dividend yield of 7.7 per cent with FY22 DPS at ₹17 and FY23 DPS at ₹24.3
2.Oil India: At a CMP of ₹299, the oil explorer gave a dividend yield of 6.7 per cent with FY22 DPS at ₹20 and FY23 DPS at ₹14.3
3.ONGC: At a CMP of ₹186, the oil major gave a dividend yield of 6 per cent with FY22 DPS at ₹10.5 and FY23 DPS at ₹11.3.
4.PTC India: At a CMP of ₹140, the power major gave a dividend yield of 5.6 per cent with FY22 DPS at ₹7.8 and FY23 DPS at ₹7.8
5.Power Grid Corporation: At a CMP of ₹202, the PSU gave a dividend yield of 5.3 per cent with FY22 DPS at ₹14.8 and FY23 DPS at ₹10.7
6.Petronet LNG: At a CMP of ₹200, the PSU gave a dividend yield of 5.0 per cent with FY22 DPS at ₹11.5 and FY23 DPS at ₹10
7.Gujarat State Fertilizers & Chemicals: At a CMP of ₹200, the chemical major gave a dividend yield of 5 per cent with FY22 DPS at ₹2.5 and FY23 DPS at ₹10.
8.National Aluminium Company: At a CMP of ₹92, the PSU gave a dividend yield of 4.9 per cent with FY22 DPS at ₹6.5 and FY23 DPS at ₹4.5
9.Chennai Petroleum Corp: At a CMP of ₹575, the oil and gas major gave a dividend yield of 4.7 per cent with FY22 DPS at ₹2 and FY23 DPS at ₹27
10.REC: At a CMP of ₹288, the PSU gave a dividend yield of 4.4 per cent with FY22 DPS at ₹15.3 and FY23 DPS at ₹12.6.
Also Read: Nifty November series outlook: 4 stocks where investors can park their money; do you own?
The dividend yield is a financial metric that represents the annual dividend payment of a firm as a percentage of its current share price. It is an indicator of the return that investors are earning on their shares.
A dividend yield is calculated by dividing the total dividend paid by the firm over the past year by the current stock price and expressing the result as a percentage.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world ???? Click here to know more.
Download The Mint News App to get Daily Market Updates.
Updated: 03 Nov 2023, 06:28 PM IST