Top 10 PSU Stocks Which Pay Highest Dividends: Know the Full List

Dividend stocks have always attracted investors, especially during times of market volatility, as they provide a relatively stable source of income from investments. Here’s a look at the top dividend-yielding PSU stocks

Outlook Business Desk

Updated on: 20 August 2024 2:19 pm

Dividend

Dividend stocks: Markets have been quite volatile since the past few weeks, but the term 'resilience' continues to define the sentiment of Dalal street. For now, the stock market seems to have entered in a consolidation phase as global markets entered the green territory again after a brief correction.

As volatility continues to turn the market mood a bit blurry, check out the top 10 dividend-yielding stocks in the PSU space, according to Axis Securities (as of August 16).

1. Bharat Petroleum Corporation (BPCL)

The company delivered a dividend yield of 9 per cent over the past 12 months. BPCL distributed Rs 31.5 in dividend during the same period. The current DPS (dividend per share) stands at Rs 10.5

2. Indian Oil Corporation (IOC)

The oil and gas company paid a dividend yield of 7 per cent in the last one-year period. The company paid an annual dividend of Rs 12 per share, with the current DPS standing at Rs 7

3. Hindustan Petroleum Corporation (HPCL)

Hindustan Petroleum has maintained a 7 per cent dividend yield over the past 12 months, distributing Rs 26 per share as dividend. The current DPS is Rs 11

4. Coal India

Coal India delivered a 6 per cent dividend yield over the last one-year period. The company paid Rs 29.5 per share in dividend, with a current DPS of Rs 5

5. Chennai Petroleum Corporation (CPCL)

Chennai Petroleum has paid a dividend of Rs 55 in the last 12 months, which results in a dividend yield of 6 per cent from the current share price levels. The current DPS is Rs 55

6. National Mineral Development Corporation (NMDC)

National Mineral Development Corporation delivered a 4 per cent dividend yield in the past year, distributing Rs 8.6 per share as dividends. The current DPS is Rs 1.5

7. Balmer Lawrie Investment

Balmer Lawrie Investment paid a dividend yield of 4 per cent, with a dividend payout of Rs 3.3 per share over the last year. The current DPS stands at Rs 3.8

8. Power Grid Corporation of India

Power Grid Corporation delivered a 3 per cent dividend yield over the last one-year period. The company paid Rs 11.25 per share in dividend, with a current DPS of Rs 2.75