Dividend Yield Stocks: Coal India, GSFC among top 10 firms paying high dividends; do you own any?

Dividend Yield Stocks: Coal India, Gujarat State Fertlisers & Chemicals (GSFC) and Oil and Natural Gas Corp (ONGC) are among the top 10 dividend-paying companies, according to domestic brokerage 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.

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The dividend yield is a financial metric that represents a firm's annual dividend payment as a percentage of its current share price. It is an indicator of investors' return on their shares.

The 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.

At a dividend yield of 5.1 per cent, Coal India tops the list of the highest dividend-paying companies, followed by GSFC at a yield of 4.1 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.

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Here are the top 10 dividend-yield stocks:

1.Coal India: At a current market price (CMP) of ₹491.65, the coal miner gave a dividend yield of 5.1 per cent with FY22 DPS at ₹17 and FY23 DPS at ₹24.3.

2.GSFC: At a CMP of ₹243.50, the company gave a dividend yield of 4.1 per cent with FY22 DPS at ₹2.5 and FY23 DPS at ₹10.

3.Oil & Natural Gas Corporation (ONGC): At a CMP of ₹288.20, the oil major gave a dividend yield of 4.1 per cent with FY22 DPS at ₹10.5 and FY23 DPS at ₹11.3.

4.Gujarat Narmada Valley Fertilizers & Chemicals Ltd: At a CMP of ₹713.95, the chemical major gave a dividend yield of 4.1 per cent with FY22 DPS at ₹10 and FY23 DPS at ₹30.

5.PTC India: At a CMP of ₹218.10, the company gave a dividend yield of 3.8 per cent with FY22 DPS at ₹7.8 and FY23 DPS at ₹7.8.

6.VST Industries: At a CMP of ₹4,098.55, the company gave a dividend yield of 3.8 per cent with FY22 DPS at ₹140 and FY23 DPS at ₹150.

7.HCL Technologies: At a CMP of ₹1,519.25, the tech major gave a dividend yield of 3.3 per cent with FY22 DPS at ₹42 and FY23 DPS at ₹48.

8.ITC: At a CMP of ₹433.65, the FMCG major gave a dividend yield of 4.2 per cent with FY22 DPS at ₹15.5 and FY23 DPS at ₹13.8.

9.Power Grid Corporation: At a CMP of ₹339,40, the PSU gave a dividend yield of 3.2 per cent with FY22 DPS at ₹14.8 and FY23 DPS at ₹14.8.

10.Infosys: At a CMP of ₹1,647.20, the IT major gave a dividend yield of 2.9 per cent with FY22 DPS at ₹34 and FY23 DPS at ₹46.
 

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, and not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.