It's time for companies to declare quarterly results and also dividends for the Financial year 2014-15. As companies are busy declaring dividends, it is time to take a look at few which can tend to give you high yields.

Syndicate Bank

At the current market price of Rs 99.50, the dividend yield works out to 5.5 per cent on an annualised basis. This is a pretty decent amount, considering that dividend is tax free in the hands of investors. Of course, this depends on whether the Bank will maintain the same dividend as last year.

We expect the bank to maintain the same dividend as last year. Fundamentally also the bank is pretty strong and NPAs are much better than the other PSU banking peers.

Infosys

The board of Infosys recently declared a dividend of Rs 29 per share. The book closure for this dividend is June 15, 2015. This is just the final dividend and along with the interim dividend that Infosys declares the dividend yield can be pretty decent if not high. The company has already declared a dividend of Rs 6 per share earlier in August. Thus the yield works to around 3 per cent.

There is another reason why we are recommending Infosys. One is the dividend yield and the second is that the price has dipped as much as 10 per cent recently. This makes the stock an interesting buy at the current level.

IndiaBulls Housing

This is one company that keep declaring dividends and interim dividends. Already it has declared a dividend of Rs 9 per share in Jan and April 2015. In fact for the year ending March 2014, the company declared a staggering dividend of 1445 per cent.

This takes the dividend yield to a decent 4.9 per cent. For the last interim dividend the effective date is May 5, 2015.

Conclusion

Look at dividend yields, but do not ignore fundamentals altogether. High dividend yielding stocks may not always be the best. The above three are pretty decent, but also study the fundamentals and technicals before buying.

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