In times of economic uncertainty and unpredictable market circumstances, investors frequently seek a safe haven in industries recognised for their stability and steady returns.
Investors looking for steady income from their investments frequently look to the best dividend-paying Indian stocks, since dividends have always been the best source of additional income for many investors.
Following are three stocks that have a high dividend yield of up to 9 percent to keep on your radar:
1. Coal India Limited
With a market cap of Rs. 2.35 lakh crores, the dividend yield of Coal India is 6.7 percent. On November 5th, the company declared an interim dividend of Rs. 15.75.
The company experienced a marginal decline in its revenue from operations, showing a year-on-year fall of around 6.4 percent to Rs. 30,673 crores in Q2 FY25, accompanied by around 22 percent decrease in net profit to Rs. 6,275 crores, over the same period.
Over the last one year, the stock has delivered positive returns of about 4.27 percent, and has down by nearly 0.16 percent year-to-date.
Established in 1975, Coal India Limited (CIL) is primarily involved in the business of mining and production of coal. Its primary customers are the power and steel industries, with additional consumers in sectors such as cement, fertilizers, and brick kilns.
2. Indian Oil Corporation Limited
With a market cap of Rs. 1.92 lakh crores, the dividend yield of IOCL is 8.71 percent. On 12th July, the company declared a final dividend of Rs. 7.
In Q2 FY25, the company witnessed a decline in its revenue from operations, reaching Rs. 1,74,976 crores, a fall of around 27 percent YoY, while the PAT fell from a profit of Rs. 13,713 crores in Q2 FY24 to a loss of Rs. 449 crores in Q2 FY25.
Over the last one year, the stock has delivered positive returns of about 7.74 percent, and has grown by nearly 4.68 percent year-to-date.
IOCL is India’s flagship Maharatna national oil company with business interests straddling the entire hydrocarbon value chain – from refining, pipeline transportation & marketing, to exploration & production of crude oil & gas, petrochemicals, gas marketing, alternative energy sources and globalisation of downstream operations.
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3. Chennai Petroleum Corporation Limited
With a market cap of Rs. 9,025 crores, the dividend yield of CPCL is 9.14 percent. On 19th July, the company declared a final dividend of Rs. 55.
In Q2 FY25, the company witnessed a decline in its revenue from operations, reaching Rs. 12,086 crores, a fall of around 27 percent YoY, while the PAT fell from a profit of Rs. 1,195 crores in Q2 FY24 to a loss of Rs. 634 crores in Q2 FY25.
Over the last one year, the stock has delivered negative returns of about 10.97 percent, and has down by nearly 13.71 percent year-to-date.
Chennai Petroleum Corporation Limited (CPCL) is engaged in the business of refining crude oil to produce & supply various petroleum products.
Written by Shivani Singh
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