10 Highest Dividend Paying Stocks in Nifty 50 – Blog by Tickertape

Last Updated on Apr 2, 2024 by Harshit Singh

10 Highest dividend-paying stocks in India in 2024

Best Dividend Paying Stocks Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) Dividend Yield (%) Dividend Per Share (Rs.)
Coal India Ltd Mining – Coal 2,72,423.41 442.05 5.49 24.25
Oil and Natural Gas Corporation Ltd Oil & Gas – Exploration & Production 3,39,541.74 269.90 4.17 11.25
Power Grid Corporation of India Ltd Power Transmission & Distribution 2,60,556.42 280.15 3.95 11.06
Tech Mahindra Ltd IT Services & Consulting 1,21,562.48 1,244.55 3.62 50.00
ITC Ltd FMCG – Tobacco 5,32,723.07 426.70 3.62 15.50
HCL Technologies Ltd IT Services & Consulting 4,21,547.87 1,556.70 3.09 48.00
Tata Consultancy Services Ltd IT Services & Consulting 14,17,114.43 3,916.75 2.97 115.00
Infosys Ltd IT Services & Consulting 6,19,012.90 1,495.45 2.27 34.00
Tata Steel Ltd Iron & Steel 2,03,668.82 163.15 2.16 3.60
Hero MotoCorp Ltd Two Wheelers 93,578.37 4,680.75 2.14 100.00

Note: We have used Tickertape Stock Screener to get the best dividend-paying stocks in India. The information is dated 2nd April 2024 and is based on the following parameters:

  • Stock Universe: Nifty 50
  • Dividend Yield: High – Sort from highest to lowest

A brief on the filters used to discover the best highest dividend-paying stocks in India

Dividend Yield: The ratio is calculated as dividend per share (DPS) for the most recent fiscal year divided by the close price of the stock. A dividend is a portion of the company’s profit paid to shareholders. Dividend per share (DPS) refers to the total dividend paid out divided by the company’s common stock.

The ratio is used to calculate the earnings on investment, considering only dividends declared. The higher the dividend yield, the better.

Factors to consider when investing in the highest dividend-paying stocks

  1. Yield ratio: A high yield ratio indicates that the company is reinvesting very little amount back into the business and paying more to the shareholders. Hence, always do a deeper analysis of the company’s financials before investing.
  2. Risk: High dividend-paying stocks are usually considered safer than other growth stocks. The reason behind this is when there is a sudden market crash or decline, high dividend-paying stocks do not lose their value. These stocks also help in diversifying the risk potential. However, consider your risk appetite before investing.
  3. Fundamentals: Investing in a company because of a high dividend payout can be fatal for your portfolio in the long run. Hence, it is wise to analyse the company for its fundamentals instead of looking at a high dividend yield.

Benefits of investing in high dividend yield stocks

Here are a few benefits of investing in stocks that pay dividends:

  • They are a great source of passive income.
  • You can reinvest dividends.
  • They are less risky than other stocks.
  • They are less prone to market volatility.


High dividend-yielding stocks indicate companies with financial stability. It also shows that the company is sustainable and its stock can give good returns over time. Refer to the list of the best, highest dividend-paying stocks mentioned in this article when you are curating your investment/financial plan. On that note, it is always worthwhile to consult a financial advisor while doing this. Happy Investing!


  1. What are dividends?

Dividends are part of the profit that shareholders earn on their shares for being part owners of the company. It can be paid in cash, stock, or other forms. 

  1. What are the top stocks that pay dividends?

The top dividend-paying stocks in India are:

  1. Coal India Ltd
  2. Oil and Natural Gas Corporation Ltd
  3. Power Grid Corporation of India Ltd
  4. Tech Mahindra Ltd
  5. ITC Ltd

These stocks are filtered using Dividend Yield on Tickertape Stock Screener. The data is from 2nd April 2024.

  1. When do stocks pay dividends?

Dividends are usually a part of the profit that the company shares with its shareholders. Hence, they are declared quarterly after a company finalises its income statement. 

Anjali Chourasiya
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