Investing in high-performing firms generates dividends that investors can use as a steady source of income regardless of how the market is doing. Here are some of the highest dividend paying stocks in India in 2022.
Top 10 Highest Dividend Paying Stocks in India
- Allsec Tech – Allsec Tech is a company that provides HR outsourcing services and digital business services from its base in Chennai. Allsec provides comprehensive, reliable HR & compliance solutions. Allsec is a well-known BPO that offers payroll processing services all around the world. The organization provides services to 400+ international clients through facilities in India, the Philippines, the United States, and London.
- Indian Oil Corporation Limited (IOCL) – The largest publicly traded oil refining firm is IOCL. 32% of India’s total refining capacity is contributed by IOCL, which holds ownership of 11 refineries in India. It is one of the highest dividends you can invest in.
- Coal India Limited – The government-owned monopoly miner Coal India controls 48% of the country’s coal reserves. Nearly 83% of all the coal produced in India is produced by Coal India. Coal India extracted 596 million tonnes of coal in FY21, which is capacity. The electricity and steel industries, as well as manufacturers of cement, fertilizer, and brick kilns, are among Coal India’s biggest customers. By investing, you can expect a 13.24% dividend return.
- PTL Enterprises – PTL Enterprises is a tire manufacturing business situated in Kerala that was founded in 1959. In 1995, Apollo Tires bought PTL. Currently, PTL Enterprise produces tires exclusively on a long-term lease for Apollo Tires. PTL gives a dividend return of 12.83%.
- Power Finance Corporation – PFC is a Maharatna firm that is 56% owned by the Indian government. PFC is a non-deposit-taking NBFC registered with the RBI that does business as an infrastructure financing company. The primary business is funding both fund-based and non-fund-based power projects in India. By investing, there’s an 11.14% dividend return.
- NMDC Limited – The National Mineral Development Corporation (NMDC) is involved in the exploration and production of diamonds and iron ore, as well as the manufacturing and marketing of sponge iron and wind energy. One of the most successful Navratna enterprises, the business was founded in 1958 as a government-owned enterprise under the direction of the Ministry of Steel. 18% of the iron ore produced domestically is produced by the firm. At the firm’s current market price, the dividend is 5.74%.
- Hindustan Petroleum Corporation Limited – The activities of Hindustan Petroleum Corporation Limited include the production of hydrocarbons, the refining and selling of crude oil, and the administration of engineering and procurement blocks. The business operates roughly 16,500 retail locations. At the firm’s current stock price, the dividend yield is 7.84%.
- Steel Authority of India (SAIL) – The largest steel-producing business in India is called Steel Authority of India Limited (SAIL). At five integrated factories and three specialized steel mills, SAIL manufactures iron and steel. Structural, TMT bars, railway, wheels & axles, hot and cold rolled, stainless steel, and galvanized items are among the offered products. The firm can now produce 16.2 MMT of crude steel, and its CAPEX plan to increase capacity to 21.4 mtpa is virtually finished. The current dividend payout stands at 9.90%.
- Rural Electrification Company (REC) Limited – A nodal organization for the execution of numerous GoI power plans aimed at expanding the nation’s power sector is REC. The business provides funding for energy production, transmission, and distribution projects. For power sector projects, the organization provides long-, medium-, and short-term loans as well as operating capital. The dividend yield is 9.20%.
- Balmer Lawrie Investment – The disinvestment of the Government of India led to the creation of Balmer Lawrie Investments Limited. The Ministry of Petroleum & Natural Gas, Government of India, currently has administrative jurisdiction for Balmer Lawrie Investments Limited. A dividend return of 8.06% is offered by Balmer Lawrie Investments Limited.
