The financial Ratio termed as the dividend yield illustrates how much a company pays out in dividends annually in relation to its share price . A dividend yield of three to five percent is seen as favorable.
However the state of the market also plays a role. When purchasing dividend yield stocks, investors take into account a number of crucial criteria, one of which is dividend yield. It serves as a gauge for the profits investors are getting on their stock.
Chennai Petroleum is in the first place on Religare’s list of the top 10 dividend yielding stocks, with a 5.5% dividend yield. In FY23 and FY22, Chennai Petroleum dividend per share was ₹55 and ₹27, respectively.
On Religare’s list of the top 10 dividend yielding stocks, Coal India is in second place with a 4.9% yield.
Gujarat State Fertilizers & Chemicals Ltd. and Gujarat Narmada Valley Fertilizers & Chemicals, two firms in the chemical category, rank third among dividend yield stocks with a dividend yield of 4.1%.
VST Industries , the cigarette and Tobacco with a dividend yield of 3.4% stands next in the list. Oil and Natural Gas Corporation (ONGC), a upstream producer of oil and gas, too has a 3.4% dividend yield.
HCL Technologies, the IT major with a dividend yield of 3.2% stands seventh in the list of top 10 dividend yield stocks by Religare.
The next three in the list of Religare’s top ten dividend stocks are Bank of Baroda with dividend yield of 3%, followed by two other finance company stocks as REC Ltd and Power Finance with dividend yields of 2.5% and 2.4% respectively
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions
