8 Best High Dividend Budget Stocks in India 2023

Dividends can also be a source of steady income in the Indian Stock Market! You will come across stocks which give low/mid/high Dividends. Is it always better to choose High Dividend Stocks to get the Best of Dividend Earnings? Well, the answer is no! However, if you choose them keeping certain important market aspects in mind then a big Yes! That’s why, I have got you the 8 Best (worthy) High Dividend Stocks in India in 2023!

• Their last year Dividend Yield is Higher than their All Time Average Dividend Yield.

• No Loss or a mere one (1-3%) in the last 5 years. Also, Many have shown Growth. This is important as it ensures that you are not losing money at the end, though your Dividend Earnings are good.

• Good Dividend History so you can expect good Dividend Returns.

• Low/Mid Priced Stocks so you can Buy in Enough Quantities to Earn Satisfying Dividends.

• Consistent Performers (with a few ups & downs, its Indian Stock Market😉).

• Some of these are blue-chip stocks (Nifty50) and giving high dividends for the past 10 years. 

Notes: The Dividend Earnings mentioned below are Per Equity Share | The Share Prices mentioned below are as of 4th May 2023, 13:00 IST | Dividend Yield is the percentage of Share Price you Earn as Dividends. 

Hindustan Zinc is 3.87% up compared to its last 5 years in the stock market. Moreover, it has been stable for the last 2 years at around ₹300 mark.

Hindustan Zinc share price: ₹314

Hindustan Zinc All Time Avg Dividend Yield: 20.62%

Thus, the dividend has grown substantially in the last year, from ₹18 to ₹75!

Vedanta has given the highest dividend last year surpassing all records. It's All Time Average Dividend Yield is also impressive. However, it has not been consistent enough except for the last 2 years.

Vedanta share price: ₹277.90

Vedanta All Time Avg Dividend Yield: 25.14%

REC is 48.04% up from the previous 5 years. Only in 2020 it struggled at around ₹85, otherwise it is quite stable for a good amount of time.

REC share price: ₹137

REC All Time Avg Dividend Yield: 8.69%

Thus, REC is giving around 3% more dividend from the past 4 years!

Coal India saw a big dip from 2018 to 2020, but since then it is on a rise! It gave the highest dividends during 2014-2016, ₹33 being the max.

Coal India share price: ₹235.95

Coal India All Time Avg Dividend Yield: 9.84%

HUDCO is a consistent performer with a few hiccups. However, growth is a question here.

HUDCO share price: ₹55.40

HUDCO All Time Avg Dividend Yield: 6.41%

In its early years GAIL India gave double or triple dividends comparatively. Just like many others, it also got shot down during the Corona period.

GAIL India share price: ₹107.45

GAIL India All Time Avg Dividend Yield: 7.45%

It grew from ₹81 to ₹300 from 2020-22! From the last 2 years, Oil India is growing with stability. Moreover, the dividend shot almost double in the last year.

Oil India share price: ₹259.90

Oil India All Time Avg Dividend Yield: 7.50%

RITES grew a whooping 153.17% since its launch 5 years back in the stock market. Throughout, it has shown stability and growth. It has been booming for the past 12 months.

RITES share price: ₹398.30

RITES All Time Avg Dividend Yield: 4.5%

These were the Best High Dividend Indian Stocks of 2023. Let’s hope they give Good Dividend Returns in FY 2023-24 as well. Which Budget Stocks (out of this list) do you think will give amazing dividends this year? You can also participate in our Which high Dividend Paying Stocks you're holding thread!