About three months ago I did a couple of posts on the top 100 and top 200 high dividend yield shares in India. I wanted to cover the next 200 shares or so as well, but since the market has been quite choppy in the last 3 months I wanted to see if any of the original high dividend yield shares have gone down to levels that make the yields very attractive.
I looked at the all the high dividend yield shares from those two posts, and removed the ones that didn’t have any dividend paid at all in 2011.
After that I took the price of today’s close and re-calculated the dividend yields on each of these stocks. I then took the shares which had more than a 3.00% dividend yield and went to MoneySights to get the market capitalization, P/E ratio and Debt / Equity ratio of these shares.
Here is what the result looks like.
| Company |
Close Price |
Dividend Paid |
Dividend Yield |
Market Cap |
P/E Ratio |
Debt Equity Ratio |
| SCI |
56.15 |
5.50 |
9.80% |
 2,618.00 |   Loss |
0.66 |
| INDIABULLS |
145.55 |
11 |
7.56% |
4,530.00 |
6.65 |
3.17 |
| ANDHRA BANK |
93.25 |
5.5 |
5.90% |
5,218.00 |
3.79 |
– |
| GUJARA NRE COKE |
17.25 |
1 |
5.80% |
905.00 |
8.23 |
0.67 |
| INDIAN OVERSEAS BANK |
86.45 |
5 |
5.78% |
5,349.00 |
4.84 |
– |
| HERO MOTORS |
2003.45 |
110 |
5.49% |
40,006.00 |
18.87 |
0.5 |
| UCO BANK |
60.9 |
3 |
4.93% |
3,822.00 |
3.44 |
0.35 |
| VIJAYA BANK |
53 |
2.5 |
4.72% |
2,500.00 |
5.01 |
0.36 |
| Bajaj Holdings |
688 |
35 |
4.36% |
7,657.00 |
10.04 |
– |
| ORIENTAL BK |
252.45 |
10.4 |
4.12% |
7,366.00 |
5.73 |
– |
| VST Industries |
1125.00 |
45 |
4.00% |
1729.00 |
14.69 |
– |
| ALLAHABAD BK |
151.35 |
6 |
3.96% |
7,208.00 |
4.47 |
– |
| INDIAN BANK |
189.35 |
7.5 |
3.96% |
8,138.00 |
4.52 |
– |
| SYNDICATE |
94.3 |
3.7 |
3.92% |
5,406.00 |
4.44 |
– |
| CUMMINS INDIA |
337 |
13 |
3.86% |
9,342.00 |
15.89 |
– |
| RENUKA SUGAR |
28.45 |
1 |
3.51% |
1,910.00 |
38.65 |
0.74 |
| DENA BANK |
63 |
2.2 |
3.49% |
2,100.00 |
2.93 |
– |
| SUN TVNET |
262.65 |
10 |
3.33% |
10,351.00 |
13.04 |
As you can see there are a fair number of large companies that have decent dividend yields, low P/Es and low Debt / Equity ratio. I’ve only looked at large companies and used the Debt / Equity ratio because that indicates stability and the chances of these companies going bankrupt and the share price going to zero is lower than smaller companies with high debt on their books.
P/E ratio is a quick measure of finding out if the share is over priced or not, and that’s the reason I’ve included that in this table.
I’ll continue to add to this list and if you know any good dividend yield shares not present here please do leave a comment and I’ll include them here.
Just looking at this table – I don’t think any company stands out as too good to miss which is what I was hoping for when I started to create this list.
Another thought on this list is that it is not as useful as a list of high dividend yield stocks in the US because it is primarily dominated by banks and if you don’t want to take exposure to that sector then there aren’t many options outside that.
Update: VKD Menon emailed that SCI was missing from this list and I’ve added it now.Â