Most government owned companies and some private companies pay high dividend every year in the month of March. Not just good dividend yield, they also have a strong business presence, which is why, they have a record of paying high dividends on a consistent basis. Here in the article, we would share 11 such top dividend stocks that can give you more dividend than your bank FD interest rates –
Aurum Proptech Ltd. (Scrip Name: AURUM), a Software Company With High Dividend Yields
In March 2021, Aurum Proptech declared an equity dividend of 19480.00% amounting to Rs 974 per share. At the current price of Rs 161.55, the dividend yield is nothing but 602.91%. The company (Sector: Computers – Software) has constantly declared dividends for the last 5 years and has a good dividend track report. Founded in 2013, Aurum Proptech was earlier known as Majesco Limited.
PNB Gilts Ltd. (Scrip Name: PNBGILTS)
PNB Gilts Ltd declared a dividend of Rs. 10 per share for the year ending March 2021 – declaring an equity dividend of 100.00%. At the current share price of Rs 67.00 this results in a dividend yield of 14.93%. The investment company (Sector – Finance – Investment) has been consistently giving dividends every year from 2001. The equity dividend of PNB Gilts of past 5 years is 30% in March 2020, 14% in 2019, 10% in 2018, 25% in 2017 and 11% in 2016.
Rural Electrification Corporation Ltd. aka REC Ltd. (Scrip Name: REC)
A Government of India undertaking company REC Ltd is a Navaratna that declared an equity dividend of 127.10% which is Rs. 12.71 per share. At the latest trading price of Rs. 131.60, it is nothing but a dividend yield of 9.66%. The company (Sector – Finance – Term Lending Institution) has been giving dividends consistently from 2008 and from last 5 years the equity dividend has been more than 90% always. In 2020 and 2019, the company gave an equity dividend of Rs. 11.00 per share.
Indian Oil Corporation Ltd. (Scrip Name: IOC) – One of the Top Dividend Stocks from GOI
Indian Oil, the Energy of India (Sector Refineries) declared an equity dividend of Rs. 12 per share in the year 2021 which is 120.00%. Going by the latest trading price of IOC (Rs. 110.25), the share gives a dividend yield of 10.88%. The country’s largest oil firm, IOC is one such high paying dividend stocks give you more dividend than your bank FD interest rates.
Power Finance Corporation Ltd. (Scrip Name: PFC)
PFC is another stock from Finance sector (term lending institution) that is known to give good dividend yields that is more than the usual bank fixed deposit interest rates. Going by the latest records, Power Finance Corporation Ltd professed an equity dividend of 100% which totals to Rs 10 per share. This results to 8.47% dividend yield at the current share price of Rs. 118.00.
PTL Enterprises Ltd. (Scrip Name: PTL)
An associate company of Apollo Tyres, PTL Enterprises (Sector: Tyres) declared an equity dividend of Rs. 5 per share that amounts to 250.00%. For those investors looking to invest in stocks that are less than Rs. 50, PTL is a share to invest as its current price is Rs. 39.65 and it could give a dividend yield of 6.31% which is more than the interest rates that the banks are providing as of now on most of the fixed deposits amount.
Also Read: 16 Upcoming Indian Tech IPOs in 2022: IPOs Expected to List on the Stock Markets
Satluj Jal Vidyut Nigam Ltd aka SJVN Ltd. (Scrip Name: SJVN)
If you are looking to invest in Power – Generation and Distribution Sector, SJVN is a good company to buy shares especially if you want to get dividends consistently that is more than your bank FD interest rates. Currently, it is priced at Rs. 28.50 and going by its equity dividend of Rs. 2.2 per share in March 2021, it gives a good dividend yield of 7.72%.
National Mineral Development Corporation Ltd aka NMDC (Scrip Name: NMDC)
Looking to invest in state run company that is into minerals and mining? How about NMDC that recently (December 2021) declared an equity dividend of 901.00% amounting to Rs. 9.01 per share. At the latest trading price of Rs. 132.60, this results in a dividend yield of 6.79%. In March 2021, it gave a dividend yield of 5.85%.
Petronet LNG Ltd. (Scrip Name: PETRONET)
An Indian Oil and Gas company in Oil Drilling and Exploration sector, Petronet LNG declared a dividend of Rs 11.5 per share (115%). Currently, it is priced at Rs. 215.95 and going by its equity dividend in March 2021, it gives a good dividend yield of 5.33%. This company again had a good track record of dividends. Petronet LNG Ltd (PLL) is a GOI joint venture company having 50% share holding of ONGC, GAIL, BPCL and IOCL. It was formed in 1998.
Redington India Ltd. (Scrip Name: REDINGTON)
Redington, a Hardware company (Sectors – Computers) professed a dividend of 580% with Rs. 11.6 per share. This results to 8.04% dividend yield at the current share price of Rs. 144.35. Established in 1993, Redington has a global presence and is a leading end-to-end supply chains solution provider in various sectors including IT, Healthcare, Telecom and Solar Products.
Indian Railway Construction Ltd aka Ircon International Ltd. (Scrip Name: IRCON)
An Engineering (Heavy) company IRCON is a subsidiary of Indian Railways that declared dividend of 150% in 2021 financial year end, totalling to Rs 3 per share. Now that the latest trading price of IRCON is Rs. 44.95, it results in 6.67% dividend yield.
These are 11 top dividend stocks that can give you more dividend than your bank FD interest rates. If you are looking to invest in reliable stocks to get high dividend yields, these are the list of stocks you should consider!
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