Discover Bank of Baroda And 2 Other Leading Indian Dividend Stocks
The Indian market remained flat over the last week but is up 44% over the past year, with earnings expected to grow by 17% per annum. In this environment, dividend stocks like Bank of Baroda and two other leading companies can offer stability and income potential for investors.
Top 10 Dividend Stocks In India
Name | Dividend Yield | Dividend Rating |
Castrol India (BSE:500870) | 3.18% | ★★★★★★ |
Balmer Lawrie Investments (BSE:532485) | 4.30% | ★★★★★★ |
D. B (NSEI:DBCORP) | 5.06% | ★★★★★☆ |
Indian Oil (NSEI:IOC) | 8.25% | ★★★★★☆ |
NMDC (BSE:526371) | 3.36% | ★★★★★☆ |
VST Industries (BSE:509966) | 3.27% | ★★★★★☆ |
Balmer Lawrie (BSE:523319) | 3.23% | ★★★★★☆ |
Redington (NSEI:REDINGTON) | 3.26% | ★★★★★☆ |
PTC India (NSEI:PTC) | 3.69% | ★★★★★☆ |
Bank of Baroda (NSEI:BANKBARODA) | 3.11% | ★★★★★☆ |
Click here to see the full list of 17 stocks from our Top Indian Dividend Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
Bank of Baroda
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Bank of Baroda Limited offers a range of banking products and services to individuals, government departments, and corporate customers both in India and internationally, with a market cap of ₹1.26 trillion.
Operations: Bank of Baroda's revenue segments include Treasury (₹316.82 billion), Other Banking Operations (₹110.76 billion), Corporate/Wholesale Banking (₹502.78 billion), and Retail Banking, which is divided into Digital Banking (₹7.40 million) and Other Retail Banking (₹512.25 billion).
Dividend Yield: 3.1%
Bank of Baroda's dividend payments, while currently covered by earnings with a low payout ratio of 20.9%, have been volatile over the past decade. Recent fixed-income offerings totaling INR 150 billion indicate strong capital management, but the bank faces challenges with a high level of bad loans at 2.9%. Despite these issues, Bank of Baroda's dividends are forecast to remain covered by earnings in three years, and it offers a competitive dividend yield in the Indian market.
Take a closer look at Bank of Baroda's potential here in our dividend report.
Upon reviewing our latest valuation report, Bank of Baroda's share price might be too pessimistic.
Indian Oil
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Indian Oil Corporation Limited, with a market cap of ₹2.34 trillion, refines, pipeline transports, and markets petroleum products both in India and internationally through its subsidiaries.
Operations: Indian Oil Corporation Limited's revenue segments include ₹262.95 billion from Petrochemicals and ₹8.25 trillion from Petroleum Products.
Dividend Yield: 8.2%
Indian Oil Corporation's dividend payments have been volatile over the past decade but are currently well-covered by earnings (payout ratio: 39.6%) and free cash flows (cash payout ratio: 56.8%). With a dividend yield of 8.25%, it ranks in the top 25% of Indian market payers. Despite recent executive changes, including the departure of Chairman Shri Shrikant Madhav Vaidya, IOC declared a final dividend of ₹7 per share for FY2023-24 at its AGM in August 2024.
Oil and Natural Gas
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 ₹3.72 trillion.
Operations: Oil and Natural Gas Corporation Limited generates revenue from various segments including ₹96.69 billion from operations outside India, ₹5.72 billion from refining and marketing within India, ₹441.92 million from onshore exploration and production in India, and ₹953.81 million from offshore exploration and production in India.
Dividend Yield: 4.1%
Oil and Natural Gas Corporation Limited (ONGC) declared a final dividend of ₹2.50 per share for FY2024, reflecting its commitment to returning value to shareholders. The company's dividends are well-covered by earnings (payout ratio: 31.3%) and cash flows (cash payout ratio: 32.5%). However, ONGC's dividend payments have been volatile over the past decade. Recent executive changes include the appointment of Shri Arunangshu Sarkar as Director (Strategy & Corporate Affairs).
Where To Now?
Dive into all 17 of the Top Indian Dividend Stocks we have identified here.
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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.
Companies discussed in this article include NSEI:BANKBARODA NSEI:IOC and NSEI:ONGC.
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