- Date : 09/11/2022
- Read: 3 mins
REC Ltd. recently announced Rs. 5 interim dividends for its shareholders for FY22-23.
REC shares stand at around Rs. 96.50 today, and its dividend yield is over 5%. It is equal to a bank FD in a year. We will find that Navaratna NBFC has provided a dividend of Rs. 13.3/share in the Financial Year 2022 if we look at the annual dividend. It is much higher than the 5 or 6% you get with a fixed deposit.
Here are 5 stocks that will provide you with a higher dividend yield than a fixed deposit interest:
Read: High dividend yield stocks in a volatile market
1. Steel Authority of India Ltd (SAIL)
It has given Rs. 8.75/equity share dividend in this financial year.
It paid dividends thrice, with an interim dividend of Rs. 4/share in November 2021 and Rs. 2.5/share in March 2022. It gave a final Rs. 2.5/share dividend. The SAIL share price is Rs. 82, which means its dividend yield comes out at 10.70.
2. Power Finance Corporation Ltd (PFC)
The PFC share is trading at 22% lower than Rs. 142.30 (its 52-week high). It gave Rs. 12.25 dividend in FY21-22 and gave it four times. It gave Rs. 2.50/share in August 2021, Rs. 2.50/share in November 2021, and Rs. 6/share in February 2022. It has announced a final dividend of Rs. 1.25/share in FY 22. You can purchase the share at Rs. 110/share right now. Its dividend yield is over 11%.
3. PTC India
PTC India is state-owned and has provided Rs. 7.50.share dividend this Financial Year. It gave Rs. 2/share interim and Rs. 5.50/share final dividend. Its annual dividend yield stands at 10.50%, and its current price is Rs. 71.25.
Read: Best dividend paying stocks in 2022
4. Coal India Ltd
Another state-owned company gave its shareholders an Rs. 17/share dividend this year. Two interim dividends were Rs. 9 and 5 in December 2021 and February 2022, respectively. It announced a final Rs. 3/share dividend in August 2022. Its share price is Rs. 240 right now, and the dividend yield is over 7%.
5. Indian Oil Corporation Ltd (IOCL)
It is a Navratna company and gave an Rs. 11.4/share dividend in FY21-22. It gave two interim dividends of Rs. 5 and 4/share in November 2021 and February 2022, respectively. Its final dividend in FY22 was Rs. 2.4, and its price is around Rs. 68. Its dividend yield stands at a whopping 16.75% annually.
Investors must understand that the management decides to hand out dividends, and the pattern of handing out bonuses or dividends can change with every financial year. Hence, getting dividends should not be the primary criterion for buying and investing.
Top 5 dividend-paying stocks
Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.
REC shares stand at around Rs. 96.50 today, and its dividend yield is over 5%. It is equal to a bank FD in a year. We will find that Navaratna NBFC has provided a dividend of Rs. 13.3/share in the Financial Year 2022 if we look at the annual dividend. It is much higher than the 5 or 6% you get with a fixed deposit.
Here are 5 stocks that will provide you with a higher dividend yield than a fixed deposit interest:
Read: High dividend yield stocks in a volatile market
1. Steel Authority of India Ltd (SAIL)
It has given Rs. 8.75/equity share dividend in this financial year.
It paid dividends thrice, with an interim dividend of Rs. 4/share in November 2021 and Rs. 2.5/share in March 2022. It gave a final Rs. 2.5/share dividend. The SAIL share price is Rs. 82, which means its dividend yield comes out at 10.70.
2. Power Finance Corporation Ltd (PFC)
The PFC share is trading at 22% lower than Rs. 142.30 (its 52-week high). It gave Rs. 12.25 dividend in FY21-22 and gave it four times. It gave Rs. 2.50/share in August 2021, Rs. 2.50/share in November 2021, and Rs. 6/share in February 2022. It has announced a final dividend of Rs. 1.25/share in FY 22. You can purchase the share at Rs. 110/share right now. Its dividend yield is over 11%.
3. PTC India
PTC India is state-owned and has provided Rs. 7.50.share dividend this Financial Year. It gave Rs. 2/share interim and Rs. 5.50/share final dividend. Its annual dividend yield stands at 10.50%, and its current price is Rs. 71.25.
Read: Best dividend paying stocks in 2022
4. Coal India Ltd
Another state-owned company gave its shareholders an Rs. 17/share dividend this year. Two interim dividends were Rs. 9 and 5 in December 2021 and February 2022, respectively. It announced a final Rs. 3/share dividend in August 2022. Its share price is Rs. 240 right now, and the dividend yield is over 7%.
5. Indian Oil Corporation Ltd (IOCL)
It is a Navratna company and gave an Rs. 11.4/share dividend in FY21-22. It gave two interim dividends of Rs. 5 and 4/share in November 2021 and February 2022, respectively. Its final dividend in FY22 was Rs. 2.4, and its price is around Rs. 68. Its dividend yield stands at a whopping 16.75% annually.
Investors must understand that the management decides to hand out dividends, and the pattern of handing out bonuses or dividends can change with every financial year. Hence, getting dividends should not be the primary criterion for buying and investing.
Top 5 dividend-paying stocks
Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.
