Top Highest Dividend Yield Shares In India

1. PNB Gilts

Considering the last market price of Rs. 51.15 per share and dividend declared of Rs. 3 and Rs. 4 for the financial year 21, the scrip offers the highest dividend yield of 13.7 percent. The company’s market capitalization stood at Rs. 929 crore.

2. Oil India:

For the FY 20, the oil drilling and exploration company declared a dividend of Rs. 10.6 per share. And for FY 21, it declared an interim dividend of Rs. 3.5. So at the current market price of over Rs. 117, the dividend yield comes to be over 9 percent. And now for the FY 2021, the dividend yield taking into account the dividend declared shall be just 3 percent.

3. Power Finance Corporation:

The PSU sector lending company on March 19 declared an interim dividend of Rs. 8. Considering the last market price of Rs. 108.5, the dividend yield of the concern comes out to be 7.37 percent. The company has a good dividend track report and has consistently declared dividends for the last 5 years.

4. Balmer Lawrie Investment:

For the financial year ending FY20, the company declared a dividend of Rs. 35 per share and given the current price of Rs. 456.7 per share, it translates to a dividend yield of 7.6%. This scrip also has a good dividend track record history.

5. TV Today Network:

The dividend declared for the FY 21 has been Rs. 2.25 per share and at the current price, the dividend yield has been 7.8 percent. The company over the last five years has been consistently declaring dividends.

Taxation of Dividend Stocks In India

With effect from FY21, dividend is taxable in the hands of the shareholders and not in the hands of the company or mutual funds. Also, domestic companies and mutual funds are liable to withhold tax at 10 percent on dividend income paid to resident individuals in excess of Rs. 5000. But this rate amid the pandemic was reduced to 7.5% until March 31, 2021.

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