REC and Coal India shares were among the top dividend paying PSU scrips in the last financial year, with yields of 10% each in 2022-23, according to a list of highest dividend-yielding PSU shares compiled by Axis Securities. Despite having one of the lowest dividend yields on the table, Rites paid out the highest dividend, at Rs 404 per equity share. The other lowest dividend-yielding firm on this list was NHPC, with a yield of 4%.
Here’s a look at the highest dividend payouts and dividend-yielding PSUs:
| Company Name | CMP | Dividend (FY23) | Dividend Yield |
| Coal India | Rs 236 | Rs 23.25 | 10% |
| REC | Rs 134 | Rs 13.05 | 10% |
| ONGC | Rs 166 | Rs 14 | 8% |
| Balmer Lawrie Investment | Rs 390 | Rs 30 | 8% |
| Oil India | Rs 259 | Rs 19.5 | 8% |
| HUDCO | Rs 54 | Rs 3.5 | 6% |
| NALCO | Rs 82 | Rs 5 | 6% |
| Power Finance | Rs 167 | Rs 10 | 6% |
| HPCL | Rs 264 | Rs 14 | 5% |
| Balmer Lawrie & Company | Rs 124 | Rs 6.5 | 5% |
| Power Grid | Rs 244 | Rs 12.25 | 5% |
| SJVN | Rs 36 | Rs 1.7 | 5% |
| GAIL (India) | Rs 109 | Rs 5 | 5% |
| Rites | Rs 404 | Rs 18 | 4% |
| NHPC | Rs 44 | Rs 1.9 | 4% |
Four out of the fifteen companies listed belong to the financial sector, whereas the list comprises solely one IT firm and one company in the industrial sector. Despite having the lowest market capitalisation on the list, at Rs 865 crore, Balmer Lawrie Investment gave its shareholders the second-highest yield of 8%. Coal India has the highest market capitalisation, at Rs 1,45,749 crore and paid out the second-highest dividend.
HUDCO, NHPC and SJVN have paid the lowest dividends in the past 12 months, at Rs 1.9, Rs 3.5 and Rs 1.7 respectively, with varying yields. On average, the utilities sector and industrial sector offer the lowest yields on this list, at 4.63% and 4% respectively. The metal and mining sector, comprising Coal India and NALCO, offers the highest yield at 8%.