It's the time of the year when companies announce book closure and dividends. We have selected a few stocks from the Nifty that have high dividend yields currently. In some cases, there could be special dividends which have boosted the yields and may not be available in the future years. Also, in other cases, especially PSU companies high interim dividends were declared to boost the government coffers. Investors need to do a little research as there is no guarantee that similar dividends would be maintained in the future.
A decent dividend yield
Power major NTPC declared an interim dividend of 40 per cent only earlier this year. Though, the power major's stock price has run up sharply the dividend yields works close to 3.7 per cent at the current market price. NTPC is expected to maintain its dividend in the coming years, which means yields would continue to remain good.
Dividend yields may fall going forward
Coal India is yet another high dividend paying company. At the current market price of Rs 389, the dividend yield of the stock works to around 3.66 per cent. The company declared a hefty one time dividend this year and it's doubtful that the company will declare a hefty dividend like it did early this year. So, it's likely that the dividend yields may fall going forward.
Known for creating investor wealth
FMCG major Hindustan Unilever is another high dividend yielding stock. FMCG stocks are highly valued stocks and to generate a dividend yield of around 3 per cent is noteworthy for a foreign FMCG stock.
Buy on dips
The Oil and Gas exploration major offers a yield of around 2.22 per cent at the current market price of Rs 427. The stock has run up sharply in the last few months and investors need to wait for a dip in the price to buy the stock. If you buy the stock lower, chances are your dividend yield would go high.