D. B Leads These 3 Top Indian Dividend Stocks

Over the last 7 days, the Indian market has dropped 1.7%, but it is up 43% over the past year, with earnings expected to grow by 17% per annum over the next few years. In this dynamic environment, dividend stocks can offer a stable income stream and potential for capital appreciation; here are three top Indian dividend stocks led by D.B.

Top 10 Dividend Stocks In India

Name	Dividend Yield	Dividend Rating
Castrol India (BSE:500870)	3.14%	★★★★★★
Balmer Lawrie Investments (BSE:532485)	3.81%	★★★★★★
D. B (NSEI:DBCORP)	4.96%	★★★★★☆
HCL Technologies (NSEI:HCLTECH)	3.28%	★★★★★☆
VST Industries (BSE:509966)	3.62%	★★★★★☆
Indian Oil (NSEI:IOC)	8.28%	★★★★★☆
NMDC (BSE:526371)	3.16%	★★★★★☆
Redington (NSEI:REDINGTON)	3.11%	★★★★★☆
Bank of Baroda (NSEI:BANKBARODA)	3.10%	★★★★★☆
PTC India (NSEI:PTC)	3.76%	★★★★★☆

Click here to see the full list of 18 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 ₹61.07 billion.

Operations: D. B. Corp Limited's revenue segments consist of ₹22.77 billion from printing, publishing, and allied business, and ₹1.62 billion from radio broadcasting.

Dividend Yield: 5%

D. B. Corp Limited has shown significant earnings growth, with net income rising to ₹1.18 billion for Q1 2024 from ₹787.59 million a year ago. Despite this, the company's dividend track record remains unstable, with recent decreases in payouts and a history of volatility over the past decade. However, its current dividend yield is among the top 25% in India and dividends are covered by both earnings (65%) and cash flows (57%).

• Delve into the full analysis dividend report here for a deeper understanding of D. B.
• Upon reviewing our latest valuation report, D. B's share price might be too pessimistic.

Gulf Oil Lubricants India (NSEI:GULFOILLUB)

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

Overview: Gulf Oil Lubricants India Limited manufactures, markets, and trades lubricants for the automobile and industrial sectors in India, with a market cap of ₹63.42 billion.

Operations: Gulf Oil Lubricants India Limited generates revenue primarily from its lubricants segment, amounting to ₹33.83 billion.

Dividend Yield: 3.1%

Gulf Oil Lubricants India Limited's recent earnings report showed strong financial performance, with Q1 2024 net income rising to ₹860.38 million from ₹680.22 million a year ago. The company's dividend yield is in the top 25% of Indian market payers and dividends are covered by earnings (57.4%) and cash flows (62.7%). However, the dividend track record has been unstable over the past decade, reflecting some volatility in payouts despite consistent increases in recent years.

• Take a closer look at Gulf Oil Lubricants India's potential here in our dividend report.
• The valuation report we've compiled suggests that Gulf Oil Lubricants India's current price could be quite moderate.

Oil and Natural Gas (NSEI:ONGC)

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

Overview: Oil and Natural Gas Corporation Limited, along with its subsidiaries, focuses on the exploration, development, and production of crude oil and natural gas both in India and internationally, with a market cap of ₹4.29 trillion.

Operations: Oil and Natural Gas Corporation Limited's revenue segments include ₹57.17 billion from Refining & Marketing in India, ₹0.97 billion from international operations, ₹0.44 billion from onshore Exploration and Production (E&P) in India, and ₹0.95 billion from offshore E&P in India.

Dividend Yield: 3.6%

Oil and Natural Gas Corporation Limited (ONGC) reported Q1 2024 net income of ₹99.36 billion, down from ₹146.44 billion a year ago, with earnings per share dropping to ₹7.9 from ₹11.64. Despite this, ONGC maintains a strong dividend yield in the top 25% of Indian market payers and dividends are well covered by both earnings (31.3%) and cash flows (32.5%). However, its dividend track record has been unstable over the past decade.

• Navigate through the intricacies of Oil and Natural Gas with our comprehensive dividend report here.
• Our comprehensive valuation report raises the possibility that Oil and Natural Gas is priced lower than what may be justified by its financials.

Key Takeaways

• Click this link to deep-dive into the 18 companies within our Top Indian Dividend Stocks screener.
• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.
• Discover a world of investment opportunities with Simply Wall St's free app and access unparalleled stock analysis across all markets.

Ready For A Different Approach?

• 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