10 Indian stocks with highest dividends

Dividends are an important part of shareholder's return. Some companies do not pay them and reinvest all their earnings, there are usually smaller businesses in rapidly growing industries. Mature companies pay out most of their earnings in dividends, as growth opportunities are depleted and markets saturated. Look for companies which can grow their dividends and maintain a stable payout ratio.

10. NTPC

Market cap: 125043 Rs. Cr.
Dividend: 3.79%
Payout ratio: 37.7%
Industry: Utilities
P/E: 11.39

9. Multi Commodity Exchange of India 

Market cap: 3150 Rs. Cr.
Dividend: 3.89%
Payout ratio: 40%
Industry: Commodity exchange
P/E: 20

8. SJVN

Market cap: 9927 Rs. Cr.
Dividend: 4%Payout ratio: 37.7%
Industry: Utilities
P/E: 9

7. Max India

Market cap: 8091 Rs. Cr.
Dividend: 4%Payout ratio: 41.3%
Industry: Plastic products
P/E: 9.8

6. NMDC 

Market cap: 68 780 Rs. Cr.
Dividend: 4%
Payout ratio: 43.7%
Industry: Mining
P/E: 10.7

5. Andhra Bank

Market cap: 5595 Rs. Cr.
Dividend: 5%Payout ratio: 21.7%
Industry: Banking
P/E: 12.85

4. Oil India

Market cap: 34 136 Rs. Cr.
Dividend: 5.28%Payout ratio: 50.2%
Industry: Exploration and production
P/E: 11.45

3. Manappuram Finance

Market cap: 1997 Rs. Cr.
Dividend: 6.3%Payout ratio: 60.5%
Industry: Finance
P/E: 8.8

2. Hexaware Technologies

Market cap: 4313 Rs. Cr.
Dividend: 6.5%
Payout ratio: 87.8%
Industry: IT Consulting
P/E: 11.6

1. Akzo Nobel India

Market cap: 5000 Rs. Cr.
Dividend: 7.4%Payout ratio: 170%
Industry: Furniture and paints
P/E: 33

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