3 Leading Indian Dividend Stocks Yielding Up To 4.7%

Over the last 7 days, the Indian market has experienced a 4.7% drop, yet it has shown resilience with a remarkable 39% rise over the past year and earnings are forecast to grow by 17% annually. In this dynamic environment, dividend stocks that offer consistent yields can be an attractive option for investors seeking stability and income amidst market fluctuations.

Top 10 Dividend Stocks In India

Name	Dividend Yield	Dividend Rating
Castrol India (BSE:500870)	3.56%	★★★★★★
Balmer Lawrie Investments (BSE:532485)	4.71%	★★★★★★
D. B (NSEI:DBCORP)	4.72%	★★★★★☆
Indian Oil (NSEI:IOC)	8.52%	★★★★★☆
VST Industries (BSE:509966)	3.90%	★★★★★☆
Balmer Lawrie (BSE:523319)	3.31%	★★★★★☆
Redington (NSEI:REDINGTON)	3.35%	★★★★★☆
Canara Bank (NSEI:CANBK)	3.07%	★★★★★☆
PTC India (NSEI:PTC)	3.94%	★★★★★☆
Bank of Baroda (NSEI:BANKBARODA)	3.07%	★★★★★☆

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 in India and internationally, with a market cap of ₹64.16 billion.

Operations: D. B. Corp Limited's revenue is primarily derived from its Printing/Publishing and Allied Business segment, which contributes ₹22.77 billion, and its Radio segment, which adds ₹1.62 billion.

Dividend Yield: 4.7%

D. B. Corp Limited offers a dividend yield of 4.72%, placing it in the top 25% of Indian dividend payers, supported by a payout ratio of 65.2%. Despite earnings growth and coverage by both earnings and cash flows, its dividend history shows volatility and unreliability over the past decade, with significant annual drops exceeding 20%. Recent financials indicate improved performance, with net income rising to ₹1.18 billion for Q1 FY2025 from ₹787.59 million the previous year.

• Delve into the full analysis dividend report here for a deeper understanding of D. B.
• Our valuation report unveils the possibility D. B's shares may be trading at a discount.

Oil and Natural Gas (NSEI:ONGC)

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

Overview: Oil and Natural Gas Corporation Limited, along with its subsidiaries, is involved in the exploration, development, and production of crude oil and natural gas both in India and internationally, with a market cap of ₹3.69 trillion.

Operations: Oil and Natural Gas Corporation Limited generates revenue from its operations in India through refining and marketing (₹5.72 billion), onshore exploration and production (₹441.92 million), offshore exploration and production (₹953.81 million), as well as from activities outside India (₹96.69 million).

Dividend Yield: 4.2%

Oil and Natural Gas Corporation Limited (ONGC) offers a dividend yield of 4.17%, placing it among the top 25% of Indian dividend payers, with a payout ratio of 31.3%. Despite its attractive yield, ONGC's dividend history has been volatile over the past decade. However, dividends are well-covered by both earnings and cash flows, suggesting sustainability. Recent management changes and strategic investments may influence future performance but do not directly impact current dividend stability.

• Get an in-depth perspective on Oil and Natural Gas' performance by reading our dividend report here.
• The valuation report we've compiled suggests that Oil and Natural Gas' current price could be inflated.

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 ₹78.88 billion.

Operations: Ujjivan Small Finance Bank Limited's revenue is primarily derived from Retail Banking at ₹58.71 billion, followed by Treasury operations at ₹7.58 billion, and Wholesale Banking contributing ₹1.44 billion.

Dividend Yield: 3.7%

Ujjivan Small Finance Bank's dividend yield of 3.68% ranks it in the top 25% of Indian dividend payers, supported by a low payout ratio of 22.6%, ensuring coverage by earnings. However, its brief two-year dividend history has been marked by volatility and lack of growth, raising concerns about reliability. Despite trading below estimated fair value and analyst price targets suggesting potential upside, high non-performing loans at 2.3% could impact financial stability.

• Unlock comprehensive insights into our analysis of Ujjivan Small Finance Bank stock in this dividend report.
• In light of our recent valuation report, it seems possible that Ujjivan Small Finance Bank is trading behind its estimated value.

Taking Advantage

• Access the full spectrum of 20 Top Indian Dividend Stocks by clicking on this link.
• Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes.
• Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage.

Seeking Other Investments?

• 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com