Coal India, SAIL, Oil India, ONGC among top dividend-yield stocks — should you buy?
Coal India, Steel Authority of India (SAIL), Oil India, among other public sector undertaking (PSU) stocks 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. At a dividend yield of 10.9 per cent, Coal India tops the list of the highest dividend-paying companies, followed by SAIL at a yield of 9.6 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. 1.Coal India: At a current market price (CMP) of ₹255, the coal miner gave a dividend yield of 10.5 per cent with FY22 DPS at ₹17 and FY23 DPS at ₹24.3
2.SAIL: At a CMP of ₹101, the steel major gave a dividend yield of 9.6 per cent with FY21 DPS at ₹2.8 and FY22 DPS at ₹8.8
3.Oil India: At a CMP of ₹280, the PSU gave a dividend yield of 7.3 per cent with FY22 DPS at ₹14.3 and FY23 DPS at ₹20
4.Oil and Natural Gas Corporation (ONGC): At a CMP of ₹183, the oil marketing company (OMC) gave a dividend yield of 6.5 per cent with FY22 DPS at ₹10.5 and FY23 DPS at ₹11.
5.Power Grid Corporation: At a CMP of ₹254, the PSU gave a dividend yield of 6 per cent with FY22 DPS at ₹14.8 and FY23 DPS at ₹14.8
6.PTC India: At a CMP of ₹150, the power major gave a dividend yield of 5.6 per cent with FY22 DPS at ₹7.8 and FY23 DPS at ₹7.8
7.NMDC: At a CMP of ₹143, the mining major gave a dividend yield of 5.4 per cent with FY22 DPS at ₹14.7 and FY23 DPS at ₹6.6
8.REC: At a CMP of ₹240, the PSU gave a dividend yield of 5.3 per cent
