- Date : 26/09/2022
- Read: 3 mins
BPCL is the only Navratna stock in the list of the top six in terms of dividend payout.

A dividend refers to a reward - in cash, stock or some other form - that a company gives to its shareholders as part of their share of profits. Although it is not obligatory on the companies' part to do so, they may still offer a dividend from their profits to reward shareholders. An important thing to note is that the dividend received on or after April 1 2020, is taxable in the hands of the shareholder. Irrespective of this, dividends can help you earn steady money and contribute to your financial growth. Therefore, investing in top dividend paying stocks in India can be a good investment strategy.
Some established Indian companies that offer regular dividend-paying stocks include Indian Oil, Coal India, Hindustan Zinc, ITC, IIFL Wealth Management, Power Grid Corp, and Oil India.
However, if you are looking for the top dividend paying stocks in India right now, here are some great options as of September 2022.
Related: How Much Tax Do You Pay On Dividend Income From Shares?
1. Bajaj Auto
India's favourite two-wheeler manufacturer, Bajaj Auto, is also the world's fourth-largest two-wheeler manufacturer. The company is leading in the three-wheeler segment and has entered the electric two-wheeler space, too. Bajaj Auto company has a market capitalisation of Rs 1,09,372 Cr. as of September 22, 2022. For the year ending March 22, Bajaj Auto declared an equity dividend of 1400% or Rs 140 per share, making it one of the best dividend paying stocks in India.
2. Torrent Pharmaceuticals Ltd.
A flagship company of the Torrent Group, Torrent Pharmaceuticals Ltd. is a leading pharma company in India. The company has a market capitalisation of Rs 52,865.18 Cr. as of September 22, 2022. The company announced an equity dividend of 960% or Rs 48 per share for the fiscal year ending March 22.
3. ITC Ltd.
Imperial Tobacco Company, or ITC Ltd., as it is commonly known, is a cigarette manufacturing company. It is famous for its brands like Classic, Goldflake, Flake, etc. The company also has a presence in other industries, such as hotels, speciality papers, software, packaging, Fast-Moving Consumer Goods (FMCG), paperboards, and agri-business. The company has a market capitalisation of Rs 4,24,055 Cr as of September 22, 2022. For the year ending March 22, ITC Ltd. has one of the highest dividend paying stocks in India, with an equity dividend of 1150% or Rs 11.5 per share.
Also Read: How To Turn Stock Market volatility Into An Investment Opportunity?
4. Marico
Marico is a consumer goods company offering products across health, beauty and wellness. The company has a market capitalisation of Rs 69,113.40 Cr as of September 22, 2022. For the year ending March 22, Marico declared an equity dividend of 925% or Rs 9.25 per share.
5. GAIL
Gas Authority Of India Ltd. is a government-owned natural gas refining and handling business in India. It is structured under the Ministry of Petroleum and Natural Gas. It has a market capitalisation of Rs 59,504.65 Cr. as of September 22, 2022. For the year ending March 22, GAIL declared an equity dividend of 100% or Rs 10 per share.
6. Hindustan Zinc
Hindustan Zinc is an Indian integrated mining company. It is also a producer of zinc, silver, lead, and cadmium. It has a market capitalisation of Rs 1,17,443 Cr as of September 22, 2022. For the year ending March 22, the company has one of the top dividend paying stocks in India, with an equity dividend of 900% or Rs 18 per share.