Dividend Yield Stocks: Coal India, ONGC, 8 others among top PSUs paying high dividends; do you own? | Mint
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Business News/ Markets / Stock Markets/  Dividend Yield Stocks: Coal India, ONGC, 8 others among top PSUs paying high dividends; do you own?
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Dividend Yield Stocks: Coal India, ONGC, 8 others among top PSUs paying high dividends; do you own?

Top dividend yield stocks: Coal India, Oil India among other PSU stocks are part of the top 10 dividend-yield stocks by Religare Broking.

Dividend is an indicator of the return that investors are earning on their shares.Premium
Dividend is an indicator of the return that investors are earning on their shares.

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.

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ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 03 Nov 2023, 06:28 PM IST
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