Should you buy Coal India, SAIL, Oil India, or ONGC, which are among the highest dividend-yielding stocks?

Coal India, SAIL, and other PSU companies are among the top 10 dividend-yielding stocks according to Religare Broking.

According to domestic brokerage firm Religare Broking, the top 10 dividend-paying businesses include Coal India, Steel Authority of India (SAIL), and Oil India, among other public sector undertaking (PSU) stocks.

"We have chosen 10 firms from a list of the top dividend-paying companies based on their fundamental soundness. Investors who are looking for dividend income might consider buying these companies, according to a study by Religare Broking.

Coal India tops the list of the highest dividend-paying firms with a yield of 10.9 percent, followed by SAIL with a yield of 9.6 percent. According to the brokerage, Coal India had a dividend per share (DPS) of 17 in FY22 and a DPS of 24.3 in FY23.

The top 10 dividend-paying stocks are listed below:

1.Coal India: With FY22 DPS at 17 and FY23 DPS at 24.3, the coal miner offered a dividend yield of 10.5% at a current market price (CMP) of 255.

2.SAIL: With FY21 DPS at 2.8 and FY22 DPS at 8.8, the steel giant offered a dividend yield of 9.6% at a CMP of 101.

3.Oil India: The PSU offered a dividend yield of 7.3% at a CMP of 280 with FY22 DPS at 14.3 and FY23 DPS at 20.

4.Oil and Natural Gas Corporation (ONGC): The oil marketing business (OMC), with a CMP of 183, offered a dividend yield of 6.5% with FY22 DPS at 10.5 and FY23 DPS at 11.

5.Power Grid Corporation: The PSU offered a dividend yield of 6% at a CMP of 254 with FY22 DPS at 14.8 and FY23 DPS at 14.8.

6.PTC India: The power major offered a dividend yield of 5.6% at a CMP of 150 with FY22 DPS at 7.8 and FY23 DPS at 7.8.

7.NMDC: With FY22 DPS at 14.7 and FY23 DPS at 6.6, the mining major offered a dividend yield of 5.4 percent at a CMP of 143.

8.REC: With FY22 DPS at $15.3 and FY23 DPS at 12.6, the PSU offered a dividend yield of 5.3% at a CMP of $240.

9.Power Finance Corporation: The power major offered a dividend yield of 5.1 percent at a CMP of 262, with FY22 DPS at 12 and FY23 DPS at 13.3

10. National Aluminium Company: The PSU offered a dividend yield of 4.8% at a CMP of 102, with FY22 DPS at 6.5 and FY23 DPS at 4.5.

The annual dividend payment of a company is expressed as a proportion of its current share price using the financial indicator known as the dividend yield. It serves as a gauge of the profit shareholders are realising from their shares.

Dividend yield is computed as the sum of the firm's annual dividend payments divided by the stock price at the time the calculation was done.