The following are the top 5 highest dividend-yielding PSU shares as of June 19, 2023, according to a report by Axis Securities:
- Coal India: 10%
- REC: 10%
- ONGC: 8%
- Oil India: 8%
- Power Grid: 7%
Coal India
Coal India is the world’s largest coal producer. The company has a market capitalization of over Rs. 2 trillion. Coal India has been paying dividends for over 50 years. The company’s dividend yield has been in the range of 8-10% for the past few years.
REC
REC is a leading power transmission company in India. The company has a market capitalization of over Rs. 1 trillion. REC has been paying dividends for over 20 years. The company’s dividend yield has been in the range of 8-10% for the past few years.
ONGC
ONGC is India’s largest oil and gas producer. The company has a market capitalization of over Rs. 3 trillion. ONGC has been paying dividends for over 50 years. The company’s dividend yield has been in the range of 6-8% for the past few years.
Oil India
Oil India is a leading oil and gas exploration and production company in India. The company has a market capitalization of over Rs. 1 trillion. Oil India has been paying dividends for over 50 years. The company’s dividend yield has been in the range of 6-8% for the past few years.
Power Grid
Power Grid is a leading power transmission company in India. The company has a market capitalization of over Rs. 2 trillion. Power Grid has been paying dividends for over 20 years. The company’s dividend yield has been in the range of 5-7% for the past few years.
News related to these shares
Here are some news related to the top 5 highest dividend-yielding PSU shares:
- Coal India: The company has announced a dividend of Rs. 24.25 per share for the financial year 2022-23. This is a dividend yield of 10%.
- REC: The company has announced a dividend of Rs. 4 per share for the financial year 2022-23. This is a dividend yield of 10%.
- ONGC: The company has announced a dividend of Rs. 11.25 per share for the financial year 2022-23. This is a dividend yield of 8%.
- Oil India: The company has announced a dividend of Rs. 8.75 per share for the financial year 2022-23. This is a dividend yield of 8%.
- Power Grid: The company has announced a dividend of Rs. 3 per share for the financial year 2022-23. This is a dividend yield of 7%.
Conclusion
The top 5 highest dividend-yielding PSU shares are all from the power and energy sector. These shares are all good options for investors who are looking for income-generating stocks. However, it is important to note that dividend yields can change over time, so it is always important to check the latest information before investing.