High Dividend Yield

Dividend yield, or DY, is a ratio of total dividends divided by the share price over the past 12 months, which shows how much a company pays in dividends each year based on its share price.

In other words, the company distributes an annual dividend every year to its shareholders and when you divide this annual dividend by the company's stock market price, we get the company's dividend yield.

In this article, we will have a look at some of stocks which provided a healthy dividend yield in the month of June.

Indian Oil Corporation (IOC)

This company in June declared a total dividend of Rs 12 per share in FY21. According to Motilal Oswal, this company is expected to remain strong in over FY22–23E in dividend payout.

Coal India

The dividend yield of Coal India was of 7.5 per cent which makes the company to remain attractively valued. As there is a recovery in demand, experts opine that the company's profitability to recover sharply in FY22.

Hindustan Zinc Ltd

The dividend yield of this stock was over 6 percent. The stock of the company will be benefitted in future also as after the economy opening; the demand for zinc and silver is expected to remain strong.

ITC

Though it has disappointed investors with a return of just 7 percent in a year, however, the stock had an attractive dividend yield of over 5 per cent.

IIFL Wealth Management Ltd

The dividend yield of this stock was 6 percent. The company in the last financial year had paid almost 73 percent of FY21 PAT as dividend to its shareholders. Recently, the stock hasn't moved much but in a year, it has given a return of 22 percent.

Power Grid Corporation of India Ltd

The stocks of this company provided a dividend yield of 5.7 percent. With around 85 percent market share, this company is the largest power transmission entity in India. According to a report, in June Power Grid shares have shot up by 5 percent.

Oil India

The stocks Oil India which is engage in gas and oil production is if we go by the figure in June was also giving a high dividend yield of 5.7 percent. Motilal Oswal had expected its dividend payout of more than 50 percent.

Ambuja Cement

This company had also a dividend yield of over 5 percent in June. Market experts had said that dividend yield of 5 percent looks very attractive.

Also read:Child Tax Credit 2021

Also watch: