From ONGC to Power Grid: 5 PSU stocks with high dividend yields

A lot of investors want to invest in stocks that pay good dividends. Also, public sector companies are often considered to be safer investment options. Axis Securities recently listed PSU stocks that have high dividend yields. From ONGC to Oil India, here's the list of 5 such PSU stocks that give high dividend yields.

Indian Oil Corporation

Headquartered in New Delhi, Indian Oil Corporation Limited is an Indian oil and gas company under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. The Indian Oil Corporation recently announced a dividend of Rs 5 per equity share. According to Axis Securities, It has a dividend yield of 8 per cent.

Balmer Lawrie and Company

Balmer Lawrie and Company is a high-dividend public sector undertaking (PSU) stock. It is presently under the administrative control of the Ministry of Petroleum & Natural Gas, Government of India. Balmer Lawrie and Company has a dividend yield of 8 per cent. The company recently announced a final dividend of Rs 33.

Power Grid Corporation of India

Headquartered in Gurugram, Power Grid Corporation of India Limited is an Indian central public sector undertaking under the ownership of the Ministry of Power. Power Grid Corporation of India recently announced a dividend of Rs 4 per share. It has a dividend yield of 7 per cent.

Oil India Limited

Oil India Limited is a central public sector undertaking. The company is engaged in the business of exploration, development and production of crude oil and natural gas. Oil India Limited has announced an interim dividend of Rs 3.50. It has a dividend yield of 6 per cent.

Oil & Natural Gas Corporation

Headquartered in New Delhi, Oil and Natural Gas Corporation Limited is an Indian central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. Oil & Natural Gas Corporation has announced an interim dividend of Rs 5.8. It has a dividend yield of 6 per cent.