Balmer Lawrie is one of the top dividend stocks I think are worth considering today. Dividend stocks are a great way to hedge your portfolio as they provide both steady income and cushion against market risks. Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. Below are more huge dividend-paying stocks that continues to add value to my portfolio holdings.

Balmer Lawrie & Co. Limited (BSE:523319)

Balmer Lawrie & Co. Limited operates in the manufacturing and service sectors in India and internationally. Formed in 1867, and run by CEO Prabal Basu, the company employs 1,248 people and with the company’s market cap sitting at INR ₹26.22B, it falls under the large-cap stocks category.

523319 has a sizeable dividend yield of 3.04% and pays out 48.41% of its profit as dividends . 523319 has increased its dividend from ₹2.43 to ₹7.00 over the past 10 years. The company has been a dependable payer too, not missing a payment in this 10 year period. Balmer Lawrie is also reasonably priced, with a PE ratio of 15.9 that compares favorably with the IN Industrials average of 32.6. Dig deeper into Balmer Lawrie here.

Greaves Cotton Limited (BSE:501455)

Greaves Cotton Limited manufactures and sells engines and engine application products in India, the Middle East, Africa, and Southeast Asia. Greaves Cotton was started in 1859 and has a market cap of INR ₹32.22B, putting it in the large-cap stocks category.

501455 has an appealing dividend yield of 4.17% and pays out 66.43% of its profit as dividends , and analysts are expecting the payout ratio in three years to hit 70.19%. Although there has been some volatility in the company’s dividend yield, the DPS over a 10 year period has increased from ₹1.60 to ₹5.50. Greaves Cotton is also reasonably priced, with a PE ratio of 15.9 that compares favorably with the IN Machinery average of 28.6. More on Greaves Cotton here.

Hindustan Petroleum Corporation Limited (BSE:500104)

Hindustan Petroleum Corporation Limited refines, markets, and transports petroleum products in India. Formed in 1952, and run by CEO Mukesh Surana, the company provides employment to 11,027 people and with the stock’s market cap sitting at INR ₹468.88B, it comes under the large-cap category.

500104 has a great dividend yield of 5.53% and is paying out 35.89% of profits as dividends , with analysts expecting a 46.94% payout in the next three years. While there’s been some level of instability in the yield, 500104 has overall increased DPS over a 10 year period from ₹0.67 to ₹17.00. Comparing Hindustan Petroleum’s PE ratio against the IN Oil and Gas industry draws favorable results, with the company’s PE of 6.5 being below that of its industry (15). More detail on Hindustan Petroleum here.