Investors commonly seek stability and consistent returns from their investment endeavors. Dividend-issuing stocks conveniently fulfill this aspiration by granting shareholders a share of the company’s profits at regular intervals. In India, where the stock market has garnered substantial prominence, a multitude of enterprises stand out due to their robust dividend policies. Top 10 Dividend Paying Stocks in India 2024. Dividend Paying Stocks in India. Dividend Paying Stocks.
This article delves into the highest-ranking ten dividend-bestowing stocks in India, effectively showcasing their financial prowess and the potential they hold for long-term gains.
Top 10 Dividend Paying Stocks in India:
Table of Contents
Vedanta Ltd.:
_image source: Vedanta limited
Vedanta Ltd functions as a diversified group in the sphere of natural resources. The company is actively involved in mineral exploration, extraction, and refinement, alongside engagements in the oil & gas domain. Its endeavors envelop the exploration, production, and circulation of different assets, incorporating zinc, lead, silver, copper, aluminum, iron metal, and oil and gas. These tasks are scattered across a few nations, remarkably including India, South Africa, Namibia, Ireland, Liberia, and the UAE.
As of now, Vedanta Ltd draws a significant extent of its income from its tasks in India, comprising roughly 65% of its general profit. Furthermore, noteworthy contributions from Malaysia (9%), China (3%), and the UAE (1%) play a pivotal role, while the residual 22% emerges from diverse alternate origins. It is one of the top dividend-paying stocks in India.
- Dividend Yield – 13.9%.
- website: https://www.vedantalimited.com/eng/
Steel Authority of India Ltd.:
_image source: Wikipedia
Steel Authority of India Limited (SAIL) stands as a prominent steel manufacturer in India, holding the prestigious status of being a Maharatna Public Sector Undertaking (PSU). SAIL’s operations encompass the production of iron and steel through five integrated plants and three specialized steel plants, strategically positioned mainly within the eastern and central parts of India, ensuring proximity to local sources of raw materials.
As of March 2022, SAIL boasts a combined capacity of 19.63 million tonnes per year for crude steel and 18.54 million tonnes per year for saleable steel. It comes in the list of the best Dividend Paying Stocks in India.
- Dividend Yield – 10.1%
- website: sail.co.in
Indian Oil Corporation of India Ltd.:
_image source:facebook
Indian Oil Corporation Ltd, classified as a Maharatna Public Sector Undertaking (PSU), boasts a comprehensive involvement spanning the complete hydrocarbon value continuum. These engagements encompass Refining, Pipeline transportation, and the marketing of Petroleum products, along with endeavors in R&D, Exploration & production, and the marketing of natural gas and petrochemicals. Notably, the company holds a position of leadership within India’s Oil refining and petroleum marketing sector.
IOCL holds significant stakes, including 32% of the total refining capacity, approximately 73% of Crude Pipelines, 42% of petrol pumps, 51% of LPG distributorships, and 48% of Aviation Fuel stations across India.
- Dividend Yield – 10.0%
- website :
REC Ltd.:
REC Limited is actively involved in financing and facilitating projects aimed at rural electrification across the entirety of the nation. It extends loans to State Electricity Boards (SEBs), State Government Departments, and Rural Electric Cooperatives with the purpose of supporting rural electrification initiatives.
These efforts are directed from its corporate headquarters in New Delhi and are further bolstered by over 20 field units, strategically situated in the majority of states across the country. It is one of the top dividend-paying stocks in India.
- Dividend Yield – 9.9%
Power Finance Corporation Ltd.:
_image source :eqmagpro.com
Established in 1986, Power Finance Corporation Ltd (PFC) holds a prominent position as a key financial institution within India. PFC extends crucial financial support to diverse sectors of the Indian economy, encompassing power, renewable energy, coal, oil & gas, and additional infrastructure ventures.
The institution’s offerings extend beyond mere funding, including project finance, corporate finance, venture capital, and asset management services.
PFC operates across a spectrum of domains, including power, renewable energy, coal, oil & gas, and other vital infrastructure projects. It comes in the list of the best Dividend Paying Stocks in India.
- Dividend Yield – 8.8%.
- website: https://www.pfcindia.com/
National Aluminum Co. Ltd.:
_image source :economictimes.
Laid out on January 7, 1981, National Aluminium Company Ltd (NALCO) remains a noticeable player in the Indian aluminum-producing scene. Working as a public sector enterprise, NALCO works under the domain of the Ministry of Mines inside the Public authority of India. The organization’s focal tasks are situated in Bhubaneswar, Odisha.
Notably, NALCO takes pride in its distinction as the global benchmark for cost-effective metallurgical grade alumina production and the most economical producer of Bauxite, a status reaffirmed by the Wood McKenzie report.
- Dividend Yield – 7.9%
- website: economictimes
Coal India Ltd.:
-image source: economictimes.
Coal India Limited (CIL) functions as a public sector enterprise operating under the Ministry of Coal, having been established in 1975. It claims the distinction of being the foremost global producer of coal and stands as a significant corporate employer within India, boasting an employee count exceeding 3.3 lakhs.
CIL’s operations encompass a wide expanse of 81 mining zones spanning across 8 regional states in India, with its central administration situated in Kolkata. The company’s principal pursuits include the production and trade of coal, along with associated coal products and services. It is one of the top dividend-paying stocks in India.
- Dividend Yield – 7.5%.
- website: https://www.coalindia.in/
Oil & Natural Gas Corporation Ltd.:
_image source: Wikipedia
Oil and Natural Gas Corporation Ltd (ONGC), laid out on August 23, 1956, capabilities as a significant public sector undertaking under the aegis of the Government of India. Famous as India’s biggest element devoted to oil and gas exploration and production, ONGC gladly gets a situation inside the main 10 echelons of worldwide energy companies.
The company’s spectrum of operations spans diverse domains, encompassing the exploration and production of both crude oil and natural gas. It further extends its influence to encompass crude oil refining, the production of LPG and various petrochemicals, as well as the strategic marketing of an array of petroleum products. Beyond these endeavors, ONGC demonstrates its commitment to progressive energy solutions through active involvement in the development of alternative sources such as wind and solar power. It comes in the list of the best Dividend Paying Stocks in India.
- Dividend Yield – 7.3%.
- website: https://ongcindia.com/
Indus Towers Ltd.:
_image source:facebook
Indus Towers Ltd, established in 2007, holds a preeminent position as a telecom infrastructure provider of note within India. The company thrives in the dynamic telecom tower industry, offering crucial telecom infrastructure services to various telecom operators. Its primary offerings encompass a spectrum ranging from tower and associated infrastructure services to in-building solutions and transmission services.
Distinguished as the largest telecom tower enterprise in India, Indus Towers Ltd commands an impressive network of over 1.26 lakh towers spanning the entire country. Its notable products encompass a range that includes telecom towers, in-building solutions, and transmission services. The company further solidifies its stature by extending a suite of services such as site acquisition, installation, maintenance, and energy management.
- Dividend Yield – 7.2%
- website: https://www.industowers.com/
GAIL (India) Ltd.:
_image source: gailcgd.gail.
GAIL (India) Ltd, established in August 1984 as a government-owned entity, stands as the nation’s premier natural gas enterprise. With its headquarters situated in New Delhi, GAIL emerges as the forefront exponent of natural gas activities. The company’s scope encompasses four key areas of operation: natural gas, liquid hydrocarbon, liquefied petroleum gas transmission, and petrochemical pursuits.
It maintains active involvement across the entire spectrum, including exploration, production, processing, transmission, distribution, and marketing of both natural gas and assorted petroleum products. Notably, GAIL’s prominence takes center stage as India’s largest company engaged in natural gas transmission and marketing endeavors. It is one of the top dividend-paying stocks in India.
- Dividend Yield – 7.0%.
- website: https://www.gailonline.com/
FAQS:
What are the 3 important dates for dividends?
- Date of declaration,
- Date of record, and
- Date of payment.
How much dividend will be tax-free in India in 2023?
- Rs.5000.
What are the 4 dividend options?
- CASH dividend,
- a STOCK dividend,
- a HYBRID dividend or
- a PROPERTY dividend.
Which sector will boom in 2023 in India?
- Defense, renewable energy sector, infrastructure, and capital goods.
Which company gives the maximum bonus share?
- BPCL, i.e., Bharat Petroleum Corporation Limited.
How can I avoid TDS on dividends?
- To prevent the deduction of TDS on dividend income, individuals have the option to furnish the relevant financial institution with Form 15G or Form 15H, depending on their eligibility.
Who approves dividends?
- A company’s board of directors.
How many times can a dividend be paid?
- Quarterly, monthly or semiannually.
Conclusion:
Embracing dividend-yielding stocks can be an astute strategy for those in pursuit of unwavering income streams and the promise of sustained expansion. The foremost ten dividend-declaring stocks in India encompass an assortment of segments, including conglomerates, tech titans, energy entities, and financial establishments.
This compilation underscores the variety of avenues at the disposal of investors. While historical dividend performance yields invaluable insights, judicious investors must engage in comprehensive research and factor in their individual financial objectives before cementing their investment resolutions.
see also: Top Chemical Stocks in India: A Comprehensive Overview
