Dividend Yield Stocks: Coal India, Gujarat State Fertlisers & Chemicals (GSFC), Oil and Natural Gas Corp (ONGC), among other companies 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.
The dividend yield is a financial metric that represents the annual dividend payment of a firm as a percentage of its current share price. It is an indicator of the return that investors are earning on their shares.
A dividend yield is calculated by dividing the total dividend paid by the firm over the past year by the current stock price and expressing the result as a percentage.
At a dividend yield of 5.1 per cent, Coal India tops the list of the highest dividend-paying companies, followed by GSFC at a yield of 4.1 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.