List of highest / best dividend paying stocks in India 2021

Best dividend paying stocks in India

Last Updated on 1 month ago by Raj Kumar

List of highest / best dividend paying stocks in India 2021

Let’s have a look at different aspects of when does a company pays dividends, which companies are paying dividends in India, and should you invest in a company just because it pays good dividends?

When does a company pay a dividend?

A company announces dividends after the company board approves. Generally, many companies pass on the profits of the company in terms of dividends to its shareholders if they feel it’s the best use of the cash.

Although paying a dividend is good but some times it’s considered as the inability of the company to do CAPEX. As you can’t paint every stock with the same brush, dividend yardstick doesn’t hold true for most of the companies.

For example; most of the PSU companies in India are forced to pay dividends because Govt is the major stakeholder in the company and Govt wants to get money from the PSUs. So PSUs are most of the time the Best / highest dividend paying stocks in India but they are not always the best companies to invest in.

Also, some tech companies pay good dividends but that doesn’t mean that they are not looking for CAPEX. it’s just that their business model is different.

Consider reading  

What is Penny stock? – List of penny stock in India

10 stocks with highest share price in India

Blue chip stocks india

Zero debt companies in India

Best dividend paying stocks in India
Best / highest dividend paying stocks in India

Full list of best / highest dividend paying stocks in India in September 2021

Here the list of highest dividend paying stocks in India in September 2021

COMPANY / StockSECTOR – INDUSTRYPrice(Rs)Market CAP(Rs Cr.)DIVIDEND YIELD(%)
CESCPower – Integrated88.8511,77850.65
Clariant ChemChemicals – Diversified550.71,27137.23
Goodyear IndiaTyres & Tubes1,022.552,35917.41
Tide Water OilLubricants1,871.151,30416.03
PNB GiltsBroking & Allied Services65.81,18415.2
PTL EnterprisesHolding – Diversified46.530810.75
Sanwaria Consumer Agro Processing – Others0.75210.71
Indian Oil Corp.Oil Refining & Marketing115108,26310.43
Coal India LtdMining/Minerals156.496,38510.23
Polyplex Corp.Packaging – 
Metallic/Plastics/Others
1,722.555,4089.52
RECTerm Lending – Power151.929,9998.37
RedingtonIT Networking Equipment140.610,9858.25
SJVNPower Generation – Hydro26.9510,5918.16
PTC IndiaPower – Trading & 
Allied Services
95.752,8347.83
Power Finance Corp.Term Lending – Power133.435,2197.5
Indus TowersTelecommunications 
– Allied Services
270.8572,9927.43
HPCLOil Refining & Marketing271.7538,5497.36
Ircon Intl.Construction & Engineering43.14,0546.96
Power GridPower – Transmission175.9122,6986.82
Hindustan ZincMetals – Non Ferrous – 
Copper/Zinc/Alloys – Products
318.6134,6196.69
Sintex Inds.Textiles – General3.752256.67
NHPCPower Generation – Hydro27.4527,5745.83
NMDCMining/Minerals138.140,4725.62
BPCLOil Refining & Marketing413.889,7645.24
Rail Vikas NigamConstruction & Contracting30.26,2975.23
HUDCONBFC – Housing42.858,5785.08
IL&FS InvestBroking & Allied Services5.951875.04
NTPCPower Generation – Thermal124.1120,3364.96
RitesProject Consultancy/Turnkey275.36,6164.72
Indian Railway Finance 
Corporation Ltd.
Others22.429,2734.69
Sanofi IndiaPharma – MNC7,804.0017,9734.68
Manaksia LtdPackaging – 
Metallic/Plastics/Others
64.74244.64
Balmer LawrieDiversified129.652,2174.63
NLC India Power Generation – Thermal54.157,5094.62
Geojit FinancialNBFC – Diversified76.851,8324.55
ITCCigarettes241.5297,2594.45
Monte Carlo FashionBranded Apparels339.357044.42
Gujarat PipavavPort Operator101.954,9294.41
Ambuja CementsCement – Pan India413.282,0474.36
Ibull Housing FinNBFC – Housing208.459,6394.32
Swaraj EnginesEngines1,598.851,9414.32
OracleIT Consulting & Software 4,668.9040,2114.28
Cochin ShipyardDefence Contractor362.954,7744.27
Rashtriya ChemicalsFertilisers73.654,0634.05
Castrol IndiaLubricants137.4513,5954
Welspun CorpSteel – Tubes/Pipes125.753,2813.98
NALCOAluminium88.616,2733.95
Bajaj Consumer CarePersonal Care256.83,7893.89
Lakshmi FinanceFinancial Services – Misc77.3233.88
BritanniaFMCG Food & Beverages4,075.5598,1673.86
Bajaj AutoAuto – 2 & 3 Wheelers3,728.80107,8993.75
Techno ElectricCapital Goods – Others270.22,9723.7
Gateway DistriparkWarehousing/Supply Chain/
Road Transport
243.73,0423.69
Hero MotoCorpAuto – 2 & 3 Wheelers2,850.4556,9493.68
Pressman AdvertisinMedia – Others27.6653.62
MOILMining/Minerals156.93,7243.51
Selan Expl TechOil Drilling And Exploration143.32183.49
Vaibhav GlobalJewellery Retail723.2511,8043.46
Gujarat IndPower Generation – Thermal79.91,2093.38
VST IndustriesCigarettes3,374.655,2113.38
Munjal ShowaAuto Ancl – Shock Absorber134.455383.35
TBZJewellery Retail74.84993.34
GAILGas Distribution15066,6063.33
Global EducationCoaching/Study Material/
Schools
45463.33
Shree DigvijayCement – North76.851,0973.25
Vedanta Diversified292.9108,8773.24
Jullundur MotorAuto Ancl – Engine Parts62.751433.19
Heidelberg CementCement – Pan India259.55,8813.08
Tech MahindraIT Consulting & Software 1,461.70141,6373.08
DB Corp.Print Media981,7153.06
ICICI SecuritiesBroking & Allied Services728.9523,5132.95
SubexIT Consulting & Software51.82,9112.9
Srikalahasthi PipesSteel – Tubes/Pipes207.89702.89
Mazagon Dock ShipDefence Contractor251.25,0662.88
Phillips CarbonCarbon Black244.554,2152.86
Rane Brake LinAuto Ancl – Susp. & 
Braking – Others
903.056982.77
Engineers IndiaProject Consultancy/Turnkey72.44,0692.76
GIC Housing FinNBFC – Housing146.357882.73
ONGCOil Drilling And Exploration135.2170,0852.66
Gulf Oil IndiaLubricants603.23,0362.65
Full list of best / highest dividend paying stocks in India in 2021

Although it’s good to keep an eye on stocks paying high dividends but it’s always not necessary that the best dividend paying stocks are the best stocks to invest.

You have to be very careful in selecting a stock to invest in. You shouldn’t pick a stock just because it has given excellent dividends in the past.

Have a look at all famous investor’s portfolios here:-

Radhakishan Damani Portfolio

Porinju Veliyath portfolio

Vijay Kedia stocks portfolio

Nemish Shah stocks portfolio

Mohnish Pabrai Stocks Portfolio

Ashish Kacholia stocks portfolio

Most of the stocks from the above list have given great dividends in the past but have failed to generate any shareholder returns.

For all latest information on dividend announcement, you can check the NSE website

FAQ on best dividend paying stocks in India

Is it good to invest in high dividend stocks?

Best dividend paying stocks are not always the best stocks to invest in. India, PSU stocks pay huge dividends but the returns of the shares of the PSU companies are not the best.

So Best dividend paying stocks are not always the best stock to invest in

What are the top 5 best dividend paying stocks in India?

Some of the companies which are best / highest dividend paying stocks in India 2021:-

Vedanta
NLC India
Oil India
NIIT
Cochin Shipyard

What are the best dividend paying stocks for the long term in India?

If you are a long term investor then you should look at companies which give dividends consistently. Some of the companies which are best dividend paying stocks and good investment option for long term are as below

1. P&G Health
2. Pfizer
3. Oracle
4. Sanofi India
5. Hero MotoCorp

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