Coal India, BoB, ONGC and 7 other stocks paying high dividends; do you own any?
Top dividend yield stocks: The dividend yield is a financial measure that indicates how much a firm pays out in dividends each year in comparison to its stock price. The dividend payout ratio is calculated as the reciprocal of the dividend yield: total dividends paid divided by net income.
Top dividend yield stocks: Dividend is one of the most important factors that investors consider before making an investment in the stock market. This is because dividend stocks provide a regular income to shareholders.
Dividend yield stocks to buy
If you are interested in investing in c, brokerage Religare Broking has chosen the top 10 dividend stocks based on their fundamental strength.
What is dividend yield?
Before knowing about these stocks, let's know the meaning of dividend yield.
Dividend yield
The dividend yield is a financial measure that indicates how much a firm pays out in dividends each year in comparison to its stock price. The dividend payout ratio is calculated as the reciprocal of the dividend yield: total dividends paid divided by net income.
How to calculate the dividend yield?
The formula is: Dividend yield = Annual dividend per share/Current share price
Invest in these dividend-paying stocks
According to Religare Broking, investors can consider investing in these stocks. Please note, that the share price for the stocks taken as of July 31, 2024, and dividend per share (DPS) is adjusted for FY23 as per corporate action announced.
Coal India, ONGC, PFC, BoB and other stocks' dividend
Religare has selected 10 stocks including Bank of Baroda (BoB), ONGC, Coal India, PFC, and HCL Tech among others. Let's take a look:
1- Chennai Petroleum Corporation Limited
Chennai Petroleum's dividend yield is 5.5 per cent at its current price of Rs 997. The DPS was Rs 55 per share in FY23 and Rs 27 in FY22.
2- Coal India
Coal India's dividend yield is 4.9 per cent at its current price of Rs 552. The DPS was Rs 25.5 per share in FY23 and Rs 24.3 in FY22.
3- Gujarat Narmada Valley Fertilizers & Chemicals Ltd
Gujarat Narmada Valley's dividend yield is 4.1 per cent at its current price of Rs 713. The DPS was Rs 30 per share in FY23 and Rs 10 in FY22.
4- Power Finance Corporation (PFC)
PFC's dividend yield is 2.4 per cent at its current price of Rs 557. The DPS was Rs 13.5 per share in FY23 and Rs 13.3 in FY22.
5- Gujarat State Fertilizers & Chemicals Ltd
Gujarat State Fertilizers' dividend yield is 4.1 per cent at its current price of Rs 246. The DPS was Rs 10 per share in FY23 and Rs 2.5 in FY22.
6- Oil and Natural Gas Corporation (ONGC)
ONGC's dividend yield is 3.4 per cent at its current price of Rs 334. The DPS was Rs 11.3 per share in FY23 and Rs 10.5 in FY22.
7- VST Industries
VST Industries' dividend yield is 3.4 per cent at its current price of Rs 4,378. The DPS was Rs 150 per share in FY23 and Rs 140 in FY22.
8- HCL Technologies
HCL Technologies' dividend yield is 3.2 per cent at its current price of Rs 1,643. The DPS was Rs 52 per share in FY23 and Rs 48 in FY22.
9- Bank of Baroda (BoB)
BoB's dividend yield is 3 per cent at its current price of Rs 254. The DPS was Rs 7.6 per share in FY23 and Rs 5.5 in FY22.
10- REC Ltd
REC's dividend yield is 2.5 per cent at its current price of Rs 644. The DPS was Rs 16 per share in FY23 and Rs 12.6 in FY22.