Dividend Stocks: Nirlon Ltd, Coal India, Power Grid Corporation of India, NMDC , VST Industries , Gujarat Pipavav Port , HCL Technologies, Heidelberg Cement India, Swaraj Engine are the 9 stocks in table of companies compiled by IDBI Capital Markets & Securities that offer dividend yield of 3% and above.
The data used by IDBI Capital for compiling the same is taken from 01st April ’2023 to 31 March 2024.
The financial ratio known as the dividend yield shows the annual dividend distributed by a company relative to its share price. Three to five percent dividend yield is considered favorable. However the market condition is equally important.
One of the most important factors that investors consider when buying dividend yield stocks is dividend yield. It acts as a barometer for the returns on investment that stockholders are receiving.
Nirlon Ltd is the first stock in the List of IDBI Capital that had given a dividend yield of 6.1% during FY24. Cumulative dividend per share by Nirlon stood at ₹26.0
Coal India Ltd was not far behind Nirlon as Cumulative dividend per share by Coal India came at ₹24.60. However in relation to the share price of Coal India, the dividend yield stood at 4.7%
Power Grid Corporation Of India is the third company in the list of IDBI Capital with Cumulative dividend per share at ₹13.3 and dividend yield of 3.7%.
NMDC's dividend yield too stood at 3.7% though Cumulative dividend per share by NMDC stood at ₹8.7.
VST Industries though stood at number 5 in the list, however a dividend yield of 3.5% by VST Industries is not far behind NMDC and Power Grid. Cumulative dividend per share by VST Industries stood at ₹150.0.
HCL Technologies with dividend yield of 3.2% stood at the sixth position while the cumulative dividend per share distributed by the company stood at ₹52.0.
Gujarat Pipavav Port, Heidelberg Cement India, Swaraj Engines are the next three in the list with a dividend yield of 3.1%
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