In the modern period, expenses are huge and we have to compromise with many things that we love to do or to buy because of the money, but if we have multiple passive income sources then it will limit the use of the term “compromise” in our dictionary and a habit of looking to our pockets every time before spending money will limit upto an extent.
Dividend income is also a type of passive income source you can invest in. We have done complete research and created a list of best dividend paying stocks, it will save your time in finding out dividend-paying stocks and will surely speed up your implementation process.
The stocks which are included in the list are consistently paying dividends to their shareholders.
List of Best Dividend Paying Stocks
S.No | Stock Name | Current Stock Price (in Rs.) | Current Dividend Yield | Dividend Paid Last Year (in Rs.) |
1. | Hindustan Zinc | 316.55 | 23.85% | 75.5 |
2. | Coal India | 234.90 | 9.89% | 23.25 |
3. | Sail | 91.10 | 3.56% | 3.25 |
4. | Gail | 115.70 | 4.32% | 5 |
5. | HPCL | 266.65 | 5.25% | 14 |
6. | Tata Consultancy Services | 3488.80 | 3.23% | 113 |
7. | ONGC | 177.20 | 7.90% | 14 |
8. | HUDCO | 67.35 | 5.19% | 3.5 |
9. | REC Limited | 224.30 | 5.81% | 13.05 |
10. | Vedanta | 238.20 | 34% | 81 |
11. | NTPC | 213 | 3.40 | 7.25 |
12. | Swaraj Engines | 2071.90 | 3.86 | 80 |
13. | Indus towers | 171.55 | 6.41% | 11 |
14. | Power Grid Corporation of India | 244.30 | 5.01% | 12.25 |
15. | Power Finance Corporation | 264.05 | 3.78% | 10 |
16. | Glenmark Life Sciences | 647.15 | 4.86% | 31.5 |
17. | Icici Securities | 626.10 | 3.59% | 22.5 |
18. | HCL Technologies | 1171.45 | 4.09 | 48 |
19. | Tata Steel | 120.30 | 4.23% | 5.1 |
20. | NMDC | 113.75 | 3.29% | 3.75 |
21. | PTC India | 122.60 | 4.73% | 5.8 |
22. | NALCO | 94.30 | 5.30% | 5 |
23. | Accelya Solutions | 1407.65 | 5.68% | 80 |
24. | Oil India | 278.30 | 7% | 19.5 |
25. | Castrol India | 151.60 | 3.95% | 6 |
26. | Bajaj Auto | 4599.05 | 3.04% | 140 |
27. | Hero Motocorp | 2998.20 | 3.33% | 100 |
28. | Banco Products | 432 | 6.48% | 28 |
29. | NHPC | 50.15 | 3.78% | 1.9 |
30. | VST Industries | 3463.55 | 4.04 | 140 |
(Note: this data is created on 11 August 2023)
Stocks with the Dividend Yield of more than 3 – 4 % are considered good dividend stocks
What is Dividend Yield?
Dividend Yield is part of the financial ratios of a company which tells us the percentage of dividend a company pays to its shareholders in a financial year, calculated in terms of share current price.
Example: Company ABC Ltd. whose current share price is 550 Rs. had paid a dividend of 20 Rs. in this financial year, so its dividend yield would be 3.63% (20 / 550 * 100).
Dividend Yield = Dividend paid by the company in a financial year / Current share price of that company * 100
As the share price changes its dividend yield also changes
What is Dividend Percentage?
It tells us the percentage of dividend which a company is paying to its shareholders in terms of share face value.
In the below image, the dividend percentage of Coal India Ltd. is mentioned as 40% so it doesn’t mean 40% of the stock, it means 40% of the face value of the stock and the face value of Coal India Ltd. is 10 rupees, 10 * 40% = 4 rupees.
So, it is better to consider dividend yield
There are more other things you need to know about dividends, so click here, go and check it out to get the best knowledge related to dividends, then you will be all set to earn a passive income from dividend investing.
If you want to open your D-mat account with Groww then click on the link
Conclusion - List of Best Dividend Paying Stocks
We have provided you with the list of best dividend paying stocks, the data contains stock price and the stock’s dividend yield as on 11 August 2023. We hope it will save your time in doing research and speed up your implementation process. So, wish you a very good luck for your dividend investing