Dividend Stocks: Coal India, ONGC, Tech M, ITC among top 10 picks by Religare Broking

The dividend yield is a financial ratio that shows how much a company pays out in dividends each year relative to its stock price. Dividend yield of 3-5%  or more is considered to be good. However it also depends on the market conditions.  Dividend Yield is one of the important factors that is considered by investors while investing in dividend yield stocks. It is an indicator of returns that investors are earning on their shares.

Coal India with dividend yield of 5.6% tops the list of 10 dividend yield stocks by Religare. Coal India dividend per share stood at ₹24.7 and ₹17 during FY23 and FY22 respectively

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360 One Wam, the asset and wealth management company is the second key dividend paying stock in Religare’s list with dividend yield of 4.8%. A dividend of ₹55 and ₹34.50 per share was distributed by the company in FY22 and Fy23 respectively.

Chemical segment companies Gujarat State Fertilizers & Chemicals Ltd, Gujarat Narmada Valley Fertilizers & Chemicals with dividend yield of 4.6% take the third spot among the dividend yield stocks.

 While GSFC distributed dividend per share of ₹2.5 and ₹10 during FY22 and FY23 respectively., GNFC’s dividend per share stood at ₹10 and ₹29.5 during FY22 and FY23 respectively.

The oil and Gas producing upstream major Oil and Natural Gas Corporation (ONGC) is fifth in the list of 10 with dividend yield of 4. 3%.  The dividend per share distributed ONGC stood at ₹11.3 and ₹10.5 during FY23 and FY22 respectively.

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The IT sector company Tech Mahindra, power sector PTC India, Power Grid Corporation of India , FMCG major ITC and upstream oil producer Oil India are other five names in top 10 , having dividend yields of 3.7% to 3.9%.

 Tech Mahindra offers dividend yield of 3.9% having distributed dividend per share of ₹45 and ₹50 during FY22 and FY23 respectively.

PTC India distributed dividend of ₹7.8 per share each during FY22 and FY23, while Power grid distributed dividend of ₹14.8 and ₹10.7 per share during Fy22 and FY23 respectively.

ITC distributed dividend of ₹11.5 and ₹15.5 during Fy22 and FY23 respectively while Oil india distributed dividend of ₹14.3 and ₹20 during FY22 and FY23 resepctively.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

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Published: 06 Mar 2024, 01:32 PM IST