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The Best Dividend Stocks | High Dividend Paying Stock [2023]

Looking for the best dividend stocks that are high paying in India? Then this post is right for you. Here is the compiled list of the best dividend stocks from the Indian Stock Markets. The factors that could be considered when choosing high dividend paying stocks in India include a company’s dividend history, payout ratio, and earnings growth potential. Stay Tuned!

A dividend is a distribution of a portion of a company’s earnings, decided by the board of directors, to a class of its shareholders. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be reinvested in the business (called retained earnings), or it can be paid out to shareholders as a dividend.

There are several reasons why a company would choose to pay a dividend. For one, it can help attract and retain investors. Dividends also tend to create a sense of ownership and can help keep shareholders happy. And finally, paying dividends is a way of sharing the company’s success with its investors.

While there are some clear benefits to paying dividends, there are also some drawbacks. For one, it can put a strain on the company’s cash flow, which can be an issue if the company is in a period of rapid growth. Additionally, dividends are often taxed at a higher rate than other forms of income, which can eat into the company’s profits.

The Best Dividend Stocks – High Paying

Here is the complete list of the 100 best high dividend paying stocks in India. Dividends are typically paid out quarterly and are often a percentage of the company’s earnings.

S.No. Name Mar Cap Rs.Cr. Div Yld %  ROCE % Payout ratio %
1 REC Ltd 26,226.91 11.53 9.11 30.11
2 Banco Products 1,452.21 9.84 23.54 93.82
3 Standard Inds. 168.20 9.61 254.09 8.71
4 Natl. Aluminium 13,554.34 8.81 33.98 40.44
5 RSWM Ltd 693.56 8.47 18.20 23.91
6 H U D C O 9,258.78 7.61 9.16 40.82
7 GAIL (India) 58,945.77 7.44 23.30 36.23
8 Coal India 141,527.09 7.41 54.29 60.36
9 Oil India 21,623.43 7.14 21.55 27.49
10 PTL Enterprises 405.07 6.54 9.31 80.27
11 ICICI Securities 17,132.38 6.33 27.03 56.01
12 CESC 9,590.50 6.22 12.75 44.14
13 Oracle Fin.Serv. 26,498.74 6.19 36.03 86.75
14 Tide Water Oil 1,725.15 5.56 21.71 76.07
15 Power Grid Corpn 152,902.19 5.36 11.48 61.16
16 Swaraj Engines 1,941.12 5.02 49.68 88.72
17 I R F C 36,722.50 4.98 5.11 30.04
18 Glenmark Life 5,201.23 4.98 42.25 61.46
19 Sarla Performanc 364.90 4.58 13.60 35.29
20 Gothi Plascon 22.34 4.57 19.87 56.04
21 MSTC 2,003.91 4.53 31.09 45.61
22 Rites 9,061.73 4.49 30.16 79.11
23 IIFL Securities 2,058.96 4.43 32.38 29.79
24 NHPC Ltd 41,788.42 4.34 6.50 51.60
25 Indian Metals 1,254.43 4.30 34.28 13.30
26 Nippon Life Ind. 16,069.67 4.26 29.69 96.21
27 Narmada Gelatine 142.74 4.24 9.50 49.03
28 Ador Fontech 266.36 3.94 26.90 68.79
29 Redington 13,093.72 3.94 29.26 40.30
30 VST Industries 5,590.76 3.88 42.44 67.50
31 PCBL Ltd 5,033.46 3.75 18.21 44.31
32 Morarka Finance 51.30 3.51 2.37 48.78
33 HCL Technologies 297,876.54 3.47 25.40 84.47
34 Visaka Industrie 764.51 3.39 21.01 21.92
35 Firstsour.Solu. 7,273.73 3.37 16.59 45.40
36 Cosmo First 1,893.85 3.36 30.60 16.03
37 Geekay Wires 78.96 3.31 14.07 29.03
38 Nava 2,640.83 3.29 16.22 16.82
39 Sutlej Textiles 951.01 3.19 15.02 19.46
40 IIFL Wealth Mgt 15,761.33 3.12 13.42 84.44
41 Gloster Ltd 890.55 3.10 9.38 29.33
42 UTI AMC 8,660.28 3.07 19.52 49.90
43 Kalyani Steels 1,445.42 3.03 22.68 17.91
44 SMC Global Sec. 832.36 3.01 20.76 15.57
45 Sonata Software 7,347.84 3.00 43.67 57.96
46 Rail Vikas 12,874.99 2.95 16.79 32.26
47 Monte Carlo Fas. 1,415.40 2.92 21.73 36.36
48 Indrapr.Medical 795.26 2.88 29.24 39.10
49 Jullundur Motor 158.52 2.88 18.38 21.52
50 Sun TV Network 18,977.06 2.85 27.46 33.00
51 Ksolves India 519.42 2.84 139.68 44.66
52 Aspinwall & Co 167.12 2.81 9.85 30.73
53 B N Rathi Sec. 30.11 2.79 22.73 16.77
54 Mahanagar Gas 8,845.56 2.79 23.23 41.37
55 GTPL Hathway 1,612.72 2.79 29.35 22.53
56 Cochin Shipyard 8,034.07 2.74 18.00 37.56
57 Dhampur Sugar 1,469.58 2.71 11.16 27.65
58 IFGL Refractori. 940.15 2.69 10.75 32.56
59 Aditya AMC 12,153.60 2.69 44.83 49.02
60 Manappuram Fin. 9,462.69 2.68 11.89 19.11
61 Indl.& Prud.Inv. 318.41 2.63 6.80 22.78
62 Chambal Fert. 11,903.55 2.62 23.35 19.93
63 Bank of India 31,659.57 2.59 4.14 23.50
64 NCC 4,903.43 2.56 12.94 25.28
65 Sukhjit Starch 620.33 2.53 18.62 21.44
66 R Systems Intl. 3,064.01 2.51 38.46 47.67
67 Union Bank (I) 52,116.04 2.50 4.43 24.66
68 GPT Infraproject 349.93 2.49 13.89 35.85
69 Century Enka 896.50 2.44 19.81 11.86
70 Indian Bank 33,458.65 2.42 4.27 19.55
71 Hawkins Cookers 3,308.92 2.40 50.43 94.59
72 Banaras Beads 55.17 2.40 6.28 45.27
73 Mphasis 36,291.93 2.39 27.38 60.38
74 WEP Solutions 77.06 2.36 8.50 69.90
75 Zensar Tech. 4,825.08 2.35 21.10 27.14
76 Divyashakti 87.90 2.34 8.25 28.73
77 Ambika Cotton 864.06 2.32 38.19 11.15
78 BDH Industries 90.38 2.29 18.24 28.72
79 Gujarat Intrux 45.51 2.26 8.53 33.84
80 Rubfila Intl. 426.00 2.23 28.35 22.06
81 Kopran 655.21 2.21 21.40 23.70
82 Panama Petrochem 2,189.54 2.21 41.17 21.01
83 Control Print 672.20 2.17 18.83 36.65
84 Magadh Sugar 423.74 2.17 8.78 19.90
85 Petronet LNG 31,252.23 2.16 29.80 51.46
86 L G Balakrishnan 2,191.19 2.15 28.98 19.18
87 Dwarikesh Sugar 1,755.91 2.14 20.99 24.26
88 Nitin Spinners 1,049.63 2.14 36.63 4.31
89 DCM Shriram Inds 625.04 2.09 11.09 19.70
90 Menon Bearings 534.49 2.08 26.56 45.66
91 Disa India 1,119.30 2.08 25.86 60.12
92 Canara Bank 57,036.69 2.07 4.49 19.25
93 Godrej Agrovet 8,879.69 2.06 18.01 45.33
94 Mysore Petro 79.82 2.06 23.58 5.04
95 G S F C 4,871.34 2.04 12.58 11.18
96 Jenburkt Pharma 270.77 2.03 26.46 24.70
97 Zenith Fibres 29.10 2.03 7.59 21.11
98 Vardhman Textile 9,696.71 2.03 23.69 12.49
99 HDFC AMC 44,205.19 2.03 36.17 64.30

Source: Screener

Which are the best dividend-paying stocks in India?

The best dividend paying stocks are Indian Oil Corporation Ltd., REC Ltd., Power Finance Corporation Ltd., National Mineral, Steel Authority of India Ltd., Bharat Electronics Ltd., National Thermal Power Corporation, Union Bank of India, and more.

What is Dividend Yield?

Dividend yield is a financial ratio that measures the number of cash dividends paid to shareholders relative to the market value per share of stock. It is calculated by dividing the annual cash dividend per share by the market price per share.

What are dividend paying stocks?

A dividend-paying stock is a stock that pays a dividend, typically on a quarterly basis. The dividend is usually a fixed amount per share and is paid out of the company’s earnings.

What are penny stocks?

Penny stocks are low-priced shares of small companies that trade for less than $5 per share. They are often volatile and risky but can offer investors the potential for large profits.

Further reading: Best High Promoter Holding Stocks

Aditya Goyal
Aditya Goyal

Author, Researcher, and SEO Expert with over 6 years of experience in Writing Content on Money Making Ideas, Startup Resources, and Business Growth. With a background in Marketing and Operations, I love to help individuals/businesses to create their own success stories.

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