Top 5 -high dividend paying companiesfor seamless passive income

Investors particularly Senior citizens and select category of investors wary of stock market operations and investments owing to the inherent risks, often look for high dividend paying stocks for better ROI than Banks, Post Offices etc., Such investors may derive substantial passive income year after year by choosing those stocks which have been the paying consistently good dividends. Herein we give the five such selected stocks for the benefit of investors. Watch them and start investing in small quantities buying them when there is a slide in prices too. Vedanta, PFC to Coal India: 5 high dividend stocks to look at amid results season Stocks in focus: Dividend yield of these dividend stocks in FY23 is higher than PPF, EPF and bank FD return.
Stocks in focus: High dividend stocks of FY23 will be in focus as they may announce interim or
final dividend while announcing their Q4FY23 numbers
High dividend stocks for FY24: With the beginning of results season, retail investors await not just
good quarterly numbers from the companies in their stock portfolio, they also await some loyalty
awards like interim dividend or final dividend. In fact a good quarterly numbers means profit
sharing with the shareholders and listed companies share their profit with the retail investor by
announcing interim or final dividend, bonus shares, buyback of shares, etc. As some high dividend
stocks have given dividend yield, much higher than Public Provident Fund ((PPF) and bank fixed
deposit (FD) interest rate, retail investors are looking for the same kind of interim and final
dividend from their portfolio stocks in the financial year 2023-24.
Here we list out top 5 high dividend stocks that one should keep under watch in current results
1] Vedanta: This dividend stock declared dividend on five occasions in FY23 and total dividend
declared by Vedanta in the financial year 2022-23 is ₹101.50 per share with dividend yield in FY23
of near 28 per cent. The five Vedanta dividends given in FY23 are ₹31.50, ₹19.50, ₹17.50, ₹12.50
and ₹20.50 per share respectively. So, amid results season, Vedanta would be in focus as the
stock has a history of paying high dividend to its shareholders.
2] REC: This dividend paying stock declared dividends on three occasions in FY23. Total dividend

declared by REC is ₹13.05 per share and REC dividend yield in FY23 is around 13.75 per cent,
which is much higher than the return given by PPF, EPF and bank FD. Hence, this Maharatna
Central Public Sector Undertaking would be in focus during the ongoing results season as
companies generally declare dividends while announcing their quarterly numbers.
3] Indian Oil Corporation Limited or IOCL: After giving whopping ₹16.50 per share total dividend
to its shareholders in the year 2021, this Navratna company declared 1:2 bonus shares in June
2022 followed by ₹2.40 interim dividend per share in August 2022. So, if an investor had invested
in IOC stocks at the beginning of the FY23, he or she would have got ₹3.60 interim dividend as its
shareholding would have surged 50 per cent due to issuance of one bonus share for every two
IOC shares held by the investor.
4] Coal India Ltd: Total dividend declared by this PSU stock was ₹23.25 per share in the financial
year 2022-23. Coal India divide yield in recently ended financial year was more than 17.50 per
cent that will definitely play in the minds of Coal India shareholders when the state-owned
company would come to announce its Q4FY23 results. So, Coal India is one of this high dividend
stocks that will be in focus in current results season.
5] Power Finance Corporation (PFC): Total dividend declared by PFC in FY23 is ₹10 per share and
at the same time this high dividend stock ascend around 30 per cent in FY23. PFC dividend yield
in FY23 is around 8.35 per cent, which is much higher than PPF, EPF and bank fixed deposit return
in the recently ended financial year.
So, Power Finance Corporation shareholders would be eagerly waiting for PFC Q4 results as the
stock may declare dividend while sharing its quarterly numbers for Q4FY23.

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