List of highest / best dividend paying stocks in India 2022

Best dividend paying stocks in India

This post was most recently updated on October 8th, 2022

Let’s have a look at different aspects of when a company pays dividends, the best dividend paying stocks in India, and whether 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 their shareholders if they feel it’s the best use of the cash.

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

Full list of top / best dividend paying stocks in India in 2022

Best dividend paying stocks in India
higest / best dividend paying stocks in India

Here is the list of the best dividend paying stocks in India in October 2022

COMPANYSECTOR – INDUSTRYPrice RsMarket CAP(Rs Cr.)DIVIDEND YIELD(%)
ITCCigarettes336.65410,6683.42
HCL TechIT Consulting & Software – Large Cap964.55256,7134.35
ONGCOil Drilling And Exploration132.65168,4507.92
NTPCPower Generation – Thermal162.9157,6194.3
Power GridPower – Transmission206.3145,4037.15
Coal India LtdMining/Minerals233.5137,5837.28
Tata SteelSteel – Integrated103.55123,55849.25
Hindustan ZincMetals – Non Ferrous – Copper/Zinc/Alloys – Products284.55115,0776.33
Vedanta Diversified292.4103,76615.39
Bajaj AutoAuto – 2 & 3 Wheelers3,594.65103,5823.89
Tech MahindraIT Consulting & Software – Large Cap1,031.30100,0094.36
BPCLOil Refining & Marketing312.1567,5616.94
Indian Oil Corp.Oil Refining & Marketing67.7563,35716.83
GAILGas Distribution87.5557,36811.42
Indus TowersTelecommunications – Allied Services200.9554,2765.47
Hero MotoCorpAuto – 2 & 3 Wheelers2,646.1052,3883.59
NMDCMining/Minerals132.938,01011.09
NHPCPower Generation – Hydro37.9538,5734.77
SAILSteel – Integrated82.4532,87910.61
HPCLOil Refining & Marketing221.631,0319.03
Indian Railway Finance Corporation Ltd.Term Lending – Railways21.427,9016.54
Power Finance Corp.Term Lending – Power105.6527,72111.36
OracleIT Consulting & Software – Mid Cap3,038.5525,8626.25
RECTerm Lending – Power95.524,66016.02
GSK PharmaPharma – MNC1,408.6523,8036.39
Bata IndiaLeather – Footwear/Accessories1,800.8023,3613.03
Bayer Cropsc.Pesticides/Agro Chem4,855.5521,9543.09
Piramal Ent.Diversified857.7520,7033.85
Oil India LtdOil Drilling And Exploration18719,9427.62
Nippon Life AMCAMC272.2516,8734.04
ICICI SecuritiesBroking & Allied Services517.216,6634.64
Sanofi IndiaPharma – MNC5,890.3013,7818.32
NALCOAluminium72.7513,0138.93
SJVNPower Generation – Hydro32.8513,0085.18
RedingtonIT Networking Equipment145.4511,3044.54
Castrol IndiaLubricants112.411,0584.89
CESCPower – Integrated80.2510,4595.61
Akzo NobelPaints/Varnishes2,209.659,9863.39
Vardhman TextilesTextiles – Integrated337.29,69710.08
NLC India Power Generation – Thermal69.159,7554.34
Cyient IT Consulting & Software – Mid Cap798.88,6633
RitesProject Consultancy/Turnkey347.958,2934.89
Mahanagar GasGas Distribution827.558,1353.02
Rail Vikas NigamConstruction & Contracting36.37,4755.56
FirstsourceIT Enabled Services106.157,3293.3
HUDCONBFC – Housing36.27,2279.67
Sonata SoftwareIT Consulting & Software – Mid Cap513.057,0154.09
Cochin ShipyardDefence Contractor507.86,5333.3
Vaibhav GlobalJewellery Retail368.656,0678.14
Polyplex Corp.Packaging – Metallic/Plastics/Others1,889.455,9415.5
Hinduja GlobalIT Enabled Services1,312.505,55718.67
Rashtriya ChemicalsFertilisers98.255,2333.92
VST IndustriesCigarettes3,330.255,0724.2
Phillips CarbonCarbon Black131.34,8163.81
HEGElectrodes – Graphite1,186.154,1253.37
Guj Mineral Dev.Mining/Minerals142.754,4173.01
Gujarat PipavavPort Operator90.24,2784.43
Heidelberg CementCement – Pan India190.64,3164.72
Ircon Intl.Construction & Engineering41.93,8145.97
PDS Multi&FashMiscellaneous300.253,8717.94
Godawari PowerSteel – Sponge Iron276.653,8793.98
Engineers IndiaProject Consultancy/Turnkey65.053,6484.61
Gateway Distriparks Ltd.Others69.53,4737.19
MOILMining/Minerals154.253,0903.57
Nava Bharat Vent.Diversified194.82,7403.08
Kewal Kiran CloRetail – Apparel/Accessories434.72,5964.37
Goodyear IndiaTyres & Tubes1,044.852,3959.57
Cosmo FilmsPackaging – Metallic/Plastics/Others880.92,3953.97
Bajaj Consumer CarePersonal Care158.72,3085.04
Puravankara Real Estate94.92,2475.27
DB Corp.Print Media125.852,2263.97
IIFL SecuritiesBroking & Allied Services69.62,0694.31
Savita Oil TechLubricants304.62,0608.21
Swaraj EnginesEngines1,630.501,9484.91
Balmer LawrieDiversified112.551,9135.78
MSTC Ltd.Trading267.21,8654.83
Tide Water OilLubricants1,051.201,7775.23
Accelya SolutionsIT Consulting & Software – Small Cap1,108.101,7045.6
INEOS StyrolutionPetrochem – Polymers8751,52433.94
CARE Ratings Rating Agency512.21,5003.32
Goldiam IntnlDiamond Cutting/Precious Metals/Jewellery130.91,3524.58
Indian MetalsMetals – Ferrous – Others249.651,3325.01
Kalyani SteelsSteel – Rolling305.951,3133.27
Banco ProductsAuto Ancl – Engine Parts179.81,31611.12
SaskenTechIT Consulting & Software – Small Cap827.451,2323.02
Geojit FinancialNBFC – Diversified49.651,1496.04
MPS LtdPrint Media658.11,0864.56
PNB GiltsBroking & Allied Services62.21,1208.04
Saksoft LtdIT Consulting & Software – Small Cap101.951,0735.89
Precision WiresMetals – Non Ferrous – Copper/Zinc/Alloys – Products89.41,0007.27
Shree DigvijayCement – North68.49665.12
Clariant ChemChemicals – Diversified425.79653.52
Uniphos EnterTrading130.659214.32
Salasar Techno EnggIndustrial Consumable – Others29.88573.36
SMC Global Securities Ltd.Broking & Allied Services79.958243
Allsec TechIT Enabled Services499.57499.01
GIC Housing FinNBFC – Housing133.17243.38
Cheviot CompanyJute/Jute Yarn/Jute Products1,181.256875.08
DCM Shriram IndSugar81.656899.19
Eldeco HousingReal Estate5885826.8
Indraprastha MedHospital625634.03
Oricon EnterprDiversified31.354743.19
Vardhman AcrylTextiles – Manmade Fibre – Acrylic Fibre52.842147.35
Indo Borax ChemChemicals – Inorganic – Others130.154187.68
Sarla PerformTextiles – Processing/Texturising48.93944.09
PTL EnterprisesHolding – Diversified30.64076.54
Munjal ShowaAuto Ancl – Shock Absorber100.53964.48
Mawana SugarsSugar81.23003.69
IL&FS InvestBroking & Allied Services8.42674.76
Renaissance GlobalDiamond Cutting/Precious Metals/Jewellery113.92177.46
Indian Card ClothingCapital Goods – Textiles209.812411.92
Steel City SecuritiesFinancial Services – Misc59.85915.01
Sanwaria Consumer Agro Processing – Others0.85598.82
list of highest / best dividend paying stocks in India in 2022

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

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 the latest information on dividend announcements, you can check the NSE website

FAQ on the best dividend paying stocks in India

  1. 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

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

    Some of the companies which are the highest / best dividend paying stocks in India 2022:-

    Vedanta
    NLC India
    Oil India
    NIIT
    Cochin Shipyard

  3. What are the top dividend paying stocks in india 2022 ?

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

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

  4. Which companies will give dividend in 2022?

    There are companies that give regular dividends every year. Some of the companies that are expected to give dividends in 2022 are as below

    1. TCS
    2. Infosys
    3. ITC
    4. Coal India
    5. Oracle financial services

  5. Which Indian stocks pay monthly dividends?

    There is no company in India which pays monthly dividends. Dividends are usually paid quarterly in India after a company declares their financial results.

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