3 Indian Dividend Stocks With Up To 4.7% Yield To Enhance Your Portfolio

Over the last 7 days, the Indian market has experienced a 3.2% drop, yet it remains up by an impressive 40% over the past year with earnings forecasted to grow by 17% annually. In this dynamic environment, selecting dividend stocks with substantial yields can be a strategic way to enhance your portfolio and capitalize on steady income streams amidst market fluctuations.

Top 10 Dividend Stocks In India

Name	Dividend Yield	Dividend Rating
Castrol India (BSE:500870)	3.48%	★★★★★★
Balmer Lawrie Investments (BSE:532485)	4.49%	★★★★★★
D. B (NSEI:DBCORP)	4.78%	★★★★★☆
Indian Oil (NSEI:IOC)	8.50%	★★★★★☆
VST Industries (BSE:509966)	3.73%	★★★★★☆
Balmer Lawrie (BSE:523319)	3.33%	★★★★★☆
Redington (NSEI:REDINGTON)	3.35%	★★★★★☆
Canara Bank (NSEI:CANBK)	3.08%	★★★★★☆
PTC India (NSEI:PTC)	3.97%	★★★★★☆
Bank of Baroda (NSEI:BANKBARODA)	3.09%	★★★★★☆

Click here to see the full list of 20 stocks from our Top Indian Dividend Stocks screener.

Here's a peek at a few of the choices from the screener.

D. B (NSEI:DBCORP)

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 both in India and internationally, with a market cap of ₹63.42 billion.

Operations: D. B. Corp Limited generates revenue from its segments with ₹22.77 billion from printing, publishing, and allied business, and ₹1.62 billion from radio broadcasting.

Dividend Yield: 4.8%

D. B. Corp Limited offers a dividend yield of 4.78%, placing it in the top 25% of Indian market payers, though its dividend history has been volatile over the past decade. Despite this, current dividends are well-covered by earnings and cash flows with payout ratios of 65.2% and 57%, respectively. Recent financials show improved performance with net income rising to ₹1,178.66 million for Q1 FY2025 from ₹787.59 million year-over-year.

• Get an in-depth perspective on D. B's performance by reading our dividend report here.
• Our valuation report unveils the possibility D. B's shares may be trading at a discount.

Redington (NSEI:REDINGTON)

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Redington Limited offers supply chain solutions both in India and internationally, with a market cap of ₹144.48 billion.

Operations: Redington Limited's revenue is derived from its supply chain solutions business, which operates across various regions globally.

Dividend Yield: 3.4%

Redington Limited's dividend yield of 3.35% ranks it in the top 25% of Indian market payers, although its dividend history has been volatile over the past decade. The recent AGM approved a dividend of ₹6.20 per share, reflecting a payout ratio of 39.8%, indicating dividends are well-covered by earnings and cash flows (50.6%). However, despite stable coverage, the company's dividends have not consistently grown or remained reliable historically.

• Navigate through the intricacies of Redington with our comprehensive dividend report here.
• The analysis detailed in our Redington valuation report hints at an deflated share price compared to its estimated value.

Ujjivan Small Finance Bank (NSEI:UJJIVANSFB)

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: Ujjivan Small Finance Bank Limited offers a range of banking and financial services in India, with a market cap of ₹79.86 billion.

Operations: Ujjivan Small Finance Bank Limited generates revenue primarily from its Retail Banking segment at ₹58.71 billion, followed by Treasury operations at ₹7.58 billion and Wholesale Banking at ₹1.44 billion.

Dividend Yield: 3.6%

Ujjivan Small Finance Bank's dividend yield of 3.63% places it among the top 25% in India, yet its two-year dividend history is marked by volatility and lack of growth. Despite this, dividends are well-covered by earnings with a low payout ratio of 22.6%, projected to remain sustainable at 16.5% in three years. Recent regulatory approval for an Authorised Dealer Category 1 Licence may enhance future operational capabilities despite current challenges like high bad loans at 2.3%.

• Click here to discover the nuances of Ujjivan Small Finance Bank with our detailed analytical dividend report.
• Our expertly prepared valuation report Ujjivan Small Finance Bank implies its share price may be lower than expected.

Taking Advantage

• Discover the full array of 20 Top Indian Dividend Stocks right here.
• Already own these companies? Bring clarity to your investment decisions by linking up your portfolio with Simply Wall St, where you can monitor all the vital signs of your stocks effortlessly.
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Ready To Venture Into Other Investment Styles?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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