Highest dividend paying stocks in India: Aurum Proptech Ltd, Clariant Chemicals, Bharat Petroleum, Goodyear

BPCL is the only Navratna stock in the list of the top six in terms of dividend payout.

Best dividend paying stocks in India

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, though it is not obligatory on the companies' part to do so.

Indian companies also pay dividends, with the more established companies also representing the most regular dividend paying stocks: Indian Oil, Coal India, Hindustan Zinc, ITC, IIFL Wealth Management, Power Grid Corp, and Oil India.

However, none of these is among India’s six best dividend paying stocks as of 24 November 2021  on the Bombay Stock Exchange (BSE) -- the day this blog was written -- though Indian Oil, Coal India, and Hindustan Zinc were among the top 20. Below is a list of India’s six highest dividend paying stocks, with their closing rates on the BSE on that day.

Related: How Much Tax Do You Pay On Dividend Income From Shares?

1. Aurum Proptech Ltd.

A real estate-focused tech company, Aurum Proptech has a good track record, having regularly declared dividends for the past five years. It announced an interim dividend of 19,480% for the year ending March 2021 - or Rs 974 per share, making it one of the highest dividend paying stocks in India in 2021. The closing share price on 24 November was Rs 175.80, amounting to a high dividend yield of 554.04%.

2. Clariant Chemicals

A player in the dyes and pigments sector, Clariant too has been paying dividends regularly for the past five years. It declared a final dividend of 2050%, amounting to Rs 205 per share, for the year ending March 2021. At the closing share price of Rs 490, the dividend yield was 41.72%.

3. Bharat Petroleum

A Navratna PSU with oil refining and marketing operations, BPCL is another company to be consistent in offering dividends over the year. The dividend declared for the last financial year was 790%, which amounted to Rs 79 per share. BPCL's closing share price of Rs 403.15 resulted in a dividend yield of 19.59%.

Related: How To Turn Stock Market Volatility Into An Investment Opportunity?

4. Goodyear

Another company with a good dividend paying track record, leading tyre manufacturer Goodyear declared a dividend of 1780%, amounting to Rs 178 per share, for the year ending March 2021. Goodyear’s closed at Rs 999, with a dividend yield of 17.82%.

5. PNB Gilts

A leading primary dealer in the government securities market, this wholly-owned subsidiary of Punjab National Bank has been declaring dividends for the past five years without fail. For the year ending March 2021, it declared a dividend of 100%, amounting to Rs 10 per share. The 24 November closing price of Rs 66.35, results in a dividend yield of 15.07%. 

6. Cheviot Company

A Kolkata-based manufacturer and exporter of jute yarns and fabrics, Cheviot is also into captive power generation. Consistently paying dividends for the past five years, the company declared a high dividend of 1750%, amounting to Rs 175 per share, for the year ending March 2021. The 24 November closing price of Rs 1,202 results in a dividend yield of 14.56%.   

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