You have money to invest in the highest dividend paying stocks in India. But you donโt know which stocks are best to invest inโฆ? donโt worry I am here to tell you which assets you can start investing in to grow your money in the future. We will guide you to pick the highest dividend paying stocks in India. First, we need to know
What is the dividend?
The dividend is a part of a companyโs profits distributed to the people who own shares. The dividend is a fixed amount per share, which is received by shareholders as per their holding in the company.
Dividends are often distributed quarterly or yearly and may be paid out as cash or in the form of reinvestment in additional stock. Dividends can be determined by the companyโs Board of Directors.
Highest dividend paying stocks in India
| Sr. No | Company Name | PE ratio | dividend yield |
| 1 | Vedanta Ltd. | 18.93 | 38.3% |
| 2 | Indian Oil Corporation Ltd. | 5.42 | 1.98% |
| 3 | REC Ltd | 9.51 | 2.74% |
| 4 | Power Finance Corporation Ltd. | 7.70 | 2.53% |
| 5 | NMDC Ltd | 10.65 | 3.10% |
| 6 | HUDCO Ltd | 18.73 | 2.30% |
| 7 | NALCO | 19.50 | 3.33% |
| 8 | Coal India Ltd. | 8.76 | 6.08% |
| 9 | Hindustan Zinc Ltd. | 16.03 | 23.97% |
| 10 | Hindustan Petroleum Corporation Ltd. | 4.00 | 6.65% |
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1. Vedanta Ltd.
Vedanta Limited is an Indian multinational mining company withย highest dividend paying stocks in India.ย Its major operations are in Zinc, Gold, and Aluminium mines in Indiaโs different states. Vedanta Limited has a diversified portfolio of businesses into two segments: Metals & Mining and Oil & Gas.
Companies total market capitalization is Rs. 98,432 Cr.
The companyโs dividend yield isย 38.3%.
2. Indian Oil Corporation Limited
Indian Oil Corporation Limited is an Indian central public sector undertaking under the ownership of the Government of India and the highest dividend paying stocks in India. Its business overlaps the entire hydrocarbon chain, including refining, pipeline transportation, marketing of petroleum products, and exploration and production of crude oil, natural gas, and petrochemicals.
Companies total market capitalization is Rs. 2,09,065 Cr.
The companyโs dividend yield is 1.98%.
3. REC (Rural Electrification Corporation) Limited.
Rural Electrification Corporation Limited is an Indian central public sector undertaking under the ownership of the Government of India. The company gives loans in power sectors for electrification projects in rural areas across India.
Companies total market capitalization is Rs. 1,21,128 Cr.
The companyโs dividend yield is 2.74%.
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4. Power Finance Corporation Limited
Power Finance Corporation Limited is a public sector company under the Ministry of Power, Government of India, and also the list of the highest dividend paying stocks in Indiaย company. It is engaged to provide financial assistance to the power sector. It is a systemically important non-deposit-taking Non-Banking Financial Company (NBFC) registered with the RBI as an Infrastructure Finance Company.
Companies total market capitalization is Rs. 1,38,225 Cr.
The companyโs dividend yield is 2.53%.
5. NMDC (National Mineral Development Corporation) Limited
NMDC Limited is highest dividend paying stocks in India undertaken by the owner of the Government of India. It is involved in the mining of iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, coal, etc.
Companies total market capitalization is Rs. 62,422 Cr.
The companyโs dividend yield is 3.10%.
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6. HUDCO (Housing & Urban Development Corporation) Limited
HUDCO Limited is an Indian central public sector undertaking under the ownership of the Government of India. It provides loans for housing and urban infrastructure projects in India with more than four decades of experience.ย This company also the highest dividend paying stocks in India
Companies total market capitalization is Rs. 33,552 Cr.
The companyโs dividend yield is 2.30%.
7. NALCO (National Aluminium Corporation) Limited
NALCO is a government company having integrated and diversified operations in mining, metal, and power under the ownership of the Government of India. Indian government holds 51.5% equity in NALCO.
Companies total market capitalization is Rs. 24,822 Cr.
The companyโs dividend yield is 3.33%.
8. Hindustan Zinc Limited
Hindustan Zinc Limited is a subsidiary of Vedanta Limited which owns a 64.9% stake in the Company. It holds a 78% market share in Indiaโs primary Zinc industry. Hindustan Zinc is the 6th largest silver producer in the world with an annual capacity of 800MT.
Companies total market capitalization is Rs. 1,33,076 Cr.
The companyโs dividend yield is 23.97%.
9. Coal India Limited
Coal India Limited is an Indian central public sector undertaking under the ownership of the Government of India. It is mainly engaged in the mining and production of coal and also handles coal washeries. The big consumers of the company are the power, steel, cement, fertilizers, brick kilns sectors, etc.
Companies total market capitalization is Rs. 2,45,862 Cr.
The companyโs dividend yield is 6.08%.
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10. Hindustan Petroleum Corporation Limited
Hindustan Petroleum Corporation Limited is an Indian oil and gas refining company. It is in the business of refining crude oil and marketing petroleum products, the production of hydrocarbons. HPCL provides services for the engineering and management of procurement blocks. HPCL is also fundamentally strong and has the highest dividend paying stocks in Indiaย company.
Companies total market capitalization is Rs. 66,551 Cr.
The companyโs dividend yield is 6.75%.
Conclusion
The highest dividend paying stocks in India for 2023 are Vedanta Ltd., Indian Oil Corporation Ltd., REC Ltd., Power Finance Corporation Ltd., NMDC Ltd., HUDCO Ltd., NALCO, Coal India Ltd., Hindustan Zinc Ltd., and Hindustan Petroleum Corporation Ltd.
These companies have a strong market capitalization and offer a substantial dividend yield to their investors. Vedanta Ltd. leads the pack with a dividend yield of 38.3%. Indian Oil Corporation Ltd. and REC Ltd. have a dividend yield of 1.98% and 2.74% respectively.
Investors who are looking for a steady source of income can consider investing in these highest dividend paying stocks in India.
FAQ
Which stock gives the highest dividend?
in this article, we are giving a list of 10 dividend paying stocks in India. hope you read it properly.
Is dividend taxed in India?
Income from dividends is now taxable in India. In India, dividend income is now taxed. You will be required to pay taxes on any dividends you get, whether they come from direct equity investments or equity mutual funds.
