Coal India and ONGC shares were among the top dividend paying PSU scrips in the last financial year, with yields of 10% and 9% respectively over the past 12 months, according to a list of highest dividend-yielding PSU shares compiled by Axis Securities. The lowest dividend-yielding firm on this list is Power Finance with a yield of 4%.
Here’s a look at the highest dividend payouts and dividend-yielding PSUs:
Company NameCMPDividend (Past 12 months)Dividend YieldCoal IndiaRs 228Rs 23.2510%ONGCRs 157Rs 149%RECRs 154Rs 13.058%Oil IndiaRs 253Rs 19.58%Balmer Lawrie InvestmentRs 407Rs 307%Bank of MaharashtraRs 28Rs 1.86%Canara BankRs 302Rs 18.56%HUDCORs 59Rs 3.56%National Aluminium CompanyRs 85Rs 56%Hindustan Petroleum CorporationRs 276Rs 145%Power Grid Corporation of IndiaRs 245Rs 12.255%RitesRs 381Rs 185%Balmer Lawrie & CompanyRs 138Rs 6.55%GAIL (India)Rs 107Rs 55%Power Finance CorporationRs 202Rs 8.754%
Five out of the fifteen companies listed belong to the financial sector, whereas the list comprises solely one IT firm and one company in the industrial sector. The financial sector has given investors a high dividend return. REC, Bank of Maharashtra, Canara Bank, and Power Finance Corporation present dividend yields ranging from 4% to 8%. In the energy sector, Hindustan Petroleum Corporation and Power Grid Corporation of India offer dividend yields of 5%. The metals & mining sector demonstrates strength with companies like Coal India and National Aluminum Company offering dividend yields of 10% and 6%, respectively.