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The Indian market has climbed 1.3% in the last 7 days and is up 45% over the past 12 months, with earnings expected to grow by 17% per annum. In this thriving environment, dividend stocks that offer steady income and potential for capital appreciation can be a valuable addition to your portfolio.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Castrol India (BSE:500870) | 3.24% | ★★★★★★ |
| Balmer Lawrie Investments (BSE:532485) | 4.35% | ★★★★★★ |
| D. B (NSEI:DBCORP) | 4.63% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 8.24% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.59% | ★★★★★☆ |
| Balmer Lawrie (BSE:523319) | 3.22% | ★★★★★☆ |
| NMDC (BSE:526371) | 3.21% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.33% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.72% | ★★★★★☆ |
| Bank of Baroda (NSEI:BANKBARODA) | 3.12% | ★★★★★☆ |
Click here to see the full list of 17 stocks from our Top Indian Dividend Stocks screener.
Let's uncover some gems from our specialized screener.
Bank of Baroda
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Bank of Baroda Limited offers a range of banking products and services to individual, government, and corporate clients both in India and internationally, with a market cap of ₹1.26 trillion.
Operations: Bank of Baroda Limited's revenue segments include Treasury (₹316.82 billion), Other Banking Operations (₹110.76 billion), Corporate/Wholesale Banking (₹502.78 billion), and Retail Banking - Other Retail Banking (₹512.25 billion).
Dividend Yield: 3.1%
Bank of Baroda's dividend yield is among the top 25% in India, with a current payout ratio of 20.9%, indicating dividends are well covered by earnings. However, its dividend track record has been volatile over the past decade. Recent earnings growth and a forecasted payout ratio of 22.1% suggest sustainability. The bank completed several fixed-income offerings totaling INR 200 billion recently, which may impact future financial strategies and stability.
D. B
Simply Wall St Dividend Rating: ★★★★★☆
Overview: D. B. Corp Limited operates in newspaper printing and publishing, radio broadcasting, and digital news platforms for news and event management in India and internationally, with a market cap of ₹65.40 billion.
Operations: D. B. Corp Limited generates revenue from three primary segments: ₹22.77 billion from printing, publishing, and allied businesses; and ₹1.62 billion from radio broadcasting.
Dividend Yield: 4.6%
D. B. Corp's dividend payments are covered by both earnings (payout ratio: 65.2%) and cash flows (cash payout ratio: 57%), with a yield in the top 25% of Indian market payers at 4.63%. Despite recent earnings growth of 114.3%, its dividend history has been volatile over the past decade, indicating unreliability. The company declared an interim dividend of INR 7 per share for FY2024-25, payable by August 14, 2024.