8 Best High Dividend Budget Stocks in India 2023

These Stocks not only give High Dividends, but also ensure Overall Profitability so are Best High Dividend Stocks! Also, these are Budget Stocks so every Middle-Class human can Invest to make Money via Dividends!

by FighterMan Updated: 23 May, 2023, 18:21 IST
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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!

High Dividend Stocks in India

Why are these High Dividend Stocks Good/Worth?
  • 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

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 Dividend Report for FY 2022-23

Total Dividend

₹75.5

Dividend Yield

23.95%

No of Dividends

4

Hindustan Zinc All Time Avg Dividend Yield: 20.62%

Hindustan Zinc Previous 3 Year Dividends

FY 2021-22

₹18

FY 2020-21

₹37.80

FY 2019-20

₹0

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

Vedanta

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 Dividend Report for FY 2022-23

Total Dividend

₹101.50

Dividend Yield

36%

No of Dividends

5

Vedanta All Time Avg Dividend Yield: 25.14%

Vedanta Previous 3 Year Dividends

FY 2021-22

₹45

FY 2020-21

₹9.5

FY 2019-20

₹3.9

REC

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 Dividend Report for FY 2022-23

Total Dividend

₹13.05

Dividend Yield

11.3%

No of Dividends

3

REC All Time Avg Dividend Yield: 8.69%

REC Previous 3 Year Dividends

FY 2021-22

₹12.21

FY 2020-21

₹11

FY 2019-20

₹11

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

Coal India

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 Dividend Report for FY 2022-23

Total Dividend

₹23.25

Dividend Yield

10.9%

No of Dividends

3

Coal India All Time Avg Dividend Yield: 9.84%

Previous 3 Year Dividends

FY 2021-22

₹17.5

FY 2020-21

₹12.5

FY 2019-20

₹12

HUDCO

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

HUDCO share price: ₹55.40

HUDCO Dividend Report for FY 2022-23

Total Dividend

₹3.5

Dividend Yield

9.8%

No of Dividends

2

HUDCO All Time Avg Dividend Yield: 6.41%

HUDCO Previous 3 Year Dividends

FY 2021-22

₹2.18

FY 2020-21

₹3.1

FY 2019-20

₹0.90

GAIL India

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 Dividend Report for FY 2022-23

Total Dividend

₹5

Dividend Yield

9.5%

No of Dividends

2

GAIL India All Time Avg Dividend Yield: 7.45%

GAIL India Previous 3 Year Dividends

FY 2021-22

₹9

FY 2020-21

₹5

FY 2019-20

₹7.29

Oil India

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 Dividend Report for FY 2022-23

Total Dividend

₹19.50

Dividend Yield

7.7%

No of Dividends

3

Oil India All Time Avg Dividend Yield: 7.50%

Previous 3 Year Dividends

FY 2021-22

₹10.75

FY 2020-21

₹5.1

FY 2019-20

₹10.75

RITES

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 Dividend Report for FY 2022-23

Total Dividend

₹18

Dividend Yield

7.2%

No of Dividends

4

RITES All Time Avg Dividend Yield: 4.5%

RITES Previous 3 Year Dividends

FY 2021-22

₹17.5

FY 2020-21

₹15

FY 2019-20

₹14

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!

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FighterMan aka Sahil Hitesh Ajmera is a 4+ Years Experienced Content Writer with 1.2M+ User Sessions, 486.41% max growth, and 1000+ Articles across Best Products, OTT, Telecom, Online Shopping, Finance, Credit Cards, Saving Tips, Deals & Offers, more!
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You forgot ONGC, ITC

BTW VU + HA

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yes, both are good for dividends. have not included them in this list because focus is only "high dividend stocks".
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