Top 10 Dividend-paying stocks in India for 2024: Securing income with these market leaders

The Indian stock market continues its impressive growth trajectory, fuelled by the country’s booming economy. For investors seeking a reliable source of income, dividend-paying stocks have become a popular choice. These stocks represent companies with a proven track record of distributing a portion of their profits to shareholders. As we step into 2024, the top 10 dividend-paying stocks in India that offer investors an opportunity to secure a steady stream of income.

1) Vedanta Ltd (VEDL):

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(a) Dividend %: 1100

(b) Dividend (INR): 11.0

(c) Ex-Date: 27-12-2023

(d) Dividend type: 2nd Interim

Vedanta, a diversified metal and mining company, takes the lead with an impressive dividend yield. Investors can benefit from a robust dividend of 11.0 INR, reflecting the company’s commitment to rewarding its shareholders.

2) Coal India Ltd. (COALINDIA):

a) Dividend %: 152.5

b) Dividend (INR): 15.25

c) Ex-Date: 21-11-2023

d) Dividend type: Interim

Coal India Ltd. stands strong with a substantial dividend yield of 152.5%, offering investors a reliable income stream. The company’s interim dividend adds to its attractiveness for income-focused portfolios.

3) Power Finance Corporation Ltd. (PFC):

a) Dividend %: 45

b) Dividend (INR): 4.50

c) Ex-Date: 24-11-2023

d) Dividend type: Interim

Power Finance Corporation Ltd. provides investors with a dividend yield of 45%, underscoring its commitment to rewarding shareholders. The interim dividend on 24th November 2023 enhances the appeal of this stock.

4) NTPC Ltd. (NTPC):

a) Dividend %: 22.5

b) Dividend (INR): 2.25

c) Ex-Date: 03-11-2023

d) Dividend type: Interim

NTPC Ltd. showcases a solid dividend yield of 22.5%, positioning it as an attractive choice for income investors. The 2.25 INR interim dividend on 3rd November 2023 adds to the appeal of this energy sector giant.

5) HCL Technologies Ltd. (HCLTECH):

a) Dividend %: 600

b) Dividend (INR): 12.00

c) Ex-Date: 20-10-2023

d) Dividend type: Interim

HCL Technologies Ltd. stands out in the tech sector with a substantial dividend yield of 600%. The interim dividend of 12.00 INR on 20th October 2023 further enhances its attractiveness for income-seeking investors.

6) REC Ltd. (RECLTD):

a) Dividend %: 35.0

b) Dividend (INR): 3.50

c) Ex-Date: 13-11-2023

d) Dividend type: Interim

REC Ltd. provides a stable income stream with a dividend yield of 35.0%. The 3.50 INR interim dividend on 13th November 2023 reinforces its position as a reliable dividend-paying stock.

7) Hindustan Zinc Ltd. (HINDZINC):

a) Dividend %: 300

b) Dividend (INR): 6.0

c) Ex-Date: 14-12-2023

d) Dividend type: Interim

Hindustan Zinc Ltd. takes the spotlight with an impressive dividend yield of 300%. The 6 INR interim dividend on 14th December 2023 positions it as a top choice for income-focused investors.

8) Hinduja Global Solutions Ltd. (HGS):

a) Dividend %: 25

b) Dividend (INR): 2.5

c) Ex-Date: 13-09-2023

d) Dividend type: Interim

Hinduja Global Solutions Ltd. offers a balanced dividend yield of 25%, providing investors with a reliable income source. The 2.5 INR interim dividend on 13th September 2023 adds to its appeal.

9) NMDC Ltd. (NMDC):

a) Dividend %: 285

b) Dividend (INR): 2.85

c) Ex-Date: 31-08-2023

d) Dividend type: Interim

NMDC Ltd. showcases a noteworthy dividend yield of 285%, making it an attractive option for income investors. The 2.85 INR interim dividend on 31st August 2023 enhances its income potential.

10)  Embassy Office Parks REIT Ltd. (EMBASSY):

a) Dividend %: 1.84

b) Dividend (INR): 5.53

c) Ex-Date: 03-11-2023

d) Dividend type: Interim

Embassy Office Parks REIT Ltd. provides a unique income opportunity with its interest distribution. The 5.53 INR distribution on 3rd November 2023 adds a distinct flavor to this real estate investment trust.

As we navigate the dynamic Indian stock market in 2024, these top 10 dividend-paying stocks offer investors a promising avenue for building a steady stream of income. With diverse sectors represented, from metals and mining to technology and real estate, these stocks present a well-rounded opportunity for income-focused portfolios. Further, it is always a prudent move as an investor to consider their financial goals before making investment decisions