If you are looking for value buys in the market during this festive season, you may consider these relatively high dividend paying PSU stocks as potential opportunities to increase the return. According to a list of the highest dividend-yielding PSU shares compiled by Religare Broking, Coal India, Oil India and Oil & Natural Gas Corporation India shares were among the top dividend-paying PSU scrips, with yields of 7.7%, 6.7% and 6%, respectively. Chennai Petroleum Corporation and REC were ranked at the bottom of the list with a 4.7% and 4.4% dividend yield, respectively.
Company NameSectorCMPP/E(x)DPS (FY23)DPS (FY22)Div Yield (%)Coal IndiaMining3148.924.3177.7Oil IndiaOil & Gas29942014.36.7Oil & Natural Gas CorporationOil & Gas1864.911.310.56PTC IndiaPower1406.87.87.85.6Power Grid Corporation of IndiaPower20210.310.714.85.3Petronet LNGOil & Gas20010.61011.55Gujrat State Fert & ChemicalsChemicals2003.7102.55National Aluminum CompanyMetals929.34.56.54.9Chennai Petroleum CorporationOil & Gas57512724.7RECFinance2882.812.615.34.4Source: Religare Broking
The list was dominated by companies from the Oil and gas Sector. Oil India, Oil & Natural Gas Corporation, Petronet LNG and Chennai Petroleum Corporation were the 4 companies out of 10 to make it to the list, with dividend yields of 6.7%, 6%, 5% and 4.7% respectively.
