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

Dividend Yield Stocks: Coal India, Gujarat State Fertlisers & Chemicals (GSFC), Oil and Natural Gas Corp (ONGC), among other companies 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.

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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.

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.

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