- Date : 28/02/2023
- Read: 3 mins
These are the top 9 dividend-yielding stocks.
India's top banks offer an FD rate of up to around 7.10%, and investors might look to invest in stocks paying dividends to get higher returns. While it might be a good option, you must remember that a dividend yield is not guaranteed. Market fluctuations can lead to impacted overall returns, unlike debt instruments. According to ACE Equity, we have compiled data on the top 9 stocks with the highest dividend yield (over 8%) from BSE 500.
Read: Comparative analysis between interim and final dividend.
Vedanta
As on February 22, 2023, the dividend yield of Vedanta stood at 14.83%. The stock price has corrected by around 8.34% in the previous month. It trades around 303.35 currently and must rally 45.29% to retest its high level of 52 weeks.
Indian Oil Corporation
As on February 22, 2023, the dividend yield of Indian Oil Corporation stood at 14.75%. The stock price has corrected by around 6.76% in the previous month. It trades around 77.30 currently and must rally 17.29% to retest its high level of 52 weeks.
REC
As on February 22, 2023, the dividend yield of REC stood at 13.64%. The stock price has corrected by around 9.63% in the previous month. It trades around 112.15 currently and must rally 12.62% to retest its high level of 52 weeks.
GAIL India
As on February 22, 2023, the dividend yield of GAIL India stood at 10.47%. The stock price has corrected by around 3.48% in the previous month. It trades around 95.55 currently and must rally 21.02% to retest its high level of 52 weeks.
Steel Authority of India (SAIL)
As on February 22, 2023, the dividend yield of the Steel Authority of India (SAIL) stood at 10.34%. The stock price has corrected by around 7.54% in the previous month. It trades around 84.60 currently and must rally 32.74% to retest its high level of 52 weeks.
Sanofi India
As on February 22, 2023, the dividend yield of Sanofi India stood at 9.07%. The stock price has corrected by around 4.93% in the previous month. It trades around 5401.05 currently and must rally 46.99% to retest its high level of 52 weeks.
Power Finance Corporation
As on February 22, 2023, the dividend yield of Power Finance Corporation stood at 8.20%. The stock price has corrected by around 2.66% in the previous month. It trades around 146.40 currently and must rally 10.59% to retest its high level of 52 weeks.
Coal India
As on February 22, 2023, the dividend yield of Vedanta stood at 8.03%. The stock price has corrected by around 6.68% in the previous month. It trades around 211.80 currently and must rally 24.32% to retest its high level of 52 weeks.
Read: Here is what you must know about the dividend yield fund.
Conclusion
These are the top 9 stocks with the highest dividend yields. Remember to do your due diligence before jumping in and purchasing any stock. Consult your financial advisor before investing when in doubt.
Highest dividend-paying stocks in 2023
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.
