From Indian Oil to Coal India, Religare Broking lists top 10 dividend yield stocks for better returns

Pranati Deva
Updated: 16 Mar 2023, 08:59 AM IST
TL;DR.

Dividend yield is one of the main factors to consider while investing in dividend-paying stocks. It is an indicator of the return that investors are earning on their shares. A stock with a strong dividend yield can also provide you with a regular income. Brokerage house Religare Broking has listed top 10 dividend-paying PSU companies based on their fundamental strength. Let's take a look:

Indian Oil: The oil & gas stock is Religare's top pick and has a dividend yield of 11.2 percent. It had declared a dividend of ₹8.5 per share in FY22. Meanwhile, in FY21, it had declared a dividend of ₹12 per share. It has a P/E ratio of 4.5 and has fallen 3.5 percent in the last 1 year.

SAIL: This steel firm is second on the list of Religare's top dividend stocks. It had declared a dividend of ₹8.8 per share in FY22, taking its dividend yield to 10.6 percent. In FY21, it had declared a dividend of ₹2.8 per share. The stock has a P/E ratio of 3.4 and has fallen over 12 percent in the last 1 year.

REC: This finance firm has a dividend yield of 10.3 percent and had declared a dividend of ₹11.7 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹12.7 per share. The stock has a P/E ratio of 2.4 and rose 26 percent in the last 1 year.

NMDC: The mining stock has a dividend yield of 9.5 percent and had declared a dividend of ₹10.6 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹7.8 per share. The stock has a P/E ratio of 5.1 and rose 5.5 percent in the last 1 year.

PTC India: The power stock has a dividend yield of 8.8 percent and had declared a dividend of ₹7.8 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹7.5 per share. The stock has a P/E ratio of 5.7 and rose 7 percent in the last 1 year.

NALCO: The metal stock has a dividend yield of 8.3 percent and had declared a dividend of ₹6.5 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹3.5 per share. The stock has a P/E ratio of 7.6 and fell 30 percent in the last 1 year.

Power Finance Corp: The finance stock has a dividend yield of 8.3 percent and had declared a dividend of ₹12 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹10 per share. The stock has a P/E ratio of 3 and jumped 44 percent in the last 1 year.

Coal India: The metal stock has a dividend yield of 7.9 percent and had declared a dividend of ₹17 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹16 per share. The stock has a P/E ratio of 10.1 and advanced 22.5 percent in the last 1 year.

ONGC: The oil & gas stock has a dividend yield of 6.9 percent and had declared a dividend of ₹10.5 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹3.6 per share. The stock has a P/E ratio of 5.1 and fell 11 percent in the last 1 year.

GAIL: The oil & gas stock has a dividend yield of 6.6 percent and had declared a dividend of ₹6.8 per share in FY22. Meanwhile, in FY21, its dividend stood at ₹5 per share. The stock has a P/E ratio of 6.7 and rose 8 percent in the last 1 year.

First Published: 16 Mar 2023, 08:59 AM IST