Dividend and share prices are inversely related. When share prices fall dividend yields go up and vice versa. Stock prices have fallen with the benchmark stock indices down almost 15 per cent from historic highs. This gives investors an immense chance to improve dividend yields by buying shares at a lower rate. Here are a list of few stocks that can be considered as best dividend yield stocks at the current prices.

Noida Toll Bridge

Noida Toll Bridge is a company that has built and now runs the Delhi Noida Toll Bridge. The company is a good profit making and consistent dividend paying company. It last year declared a dividend of 30 per cent. Thus, if you buy the stock now at Rs 24, your dividend yield would be more than 12 per cent. Among the top dividend stocks to buy at the current levels.

NMDC

National Mineral Development Corporation is another cash rich, debt free solid dividend paying company. Last year, the company declared a total dividend of Rs 8.55 per share, which translates into a dividend yield of almost 9 per cent. It is among the top yielding dividend stocks to buy.

India Bulls Ventures

India Bulls Ventures has a track record of declaring frequent interim dividends. Last year it declared a total dividend of Rs 3 per share, which at the current market price of Rs 32, takes the dividend yield to 9.30 per cent. Among the top dividend payers in the country.

Manappuram Finance

Manappuram Finance also has a track record of paying healthy dividends. Last year the company declared a dividend of 90 per cent, which takes the yield to 9.1 per cent on a share price of Rs 22.

Syndicate Bank

First the caveat. We have to work on the assumption that all of the companies will declare the same dividend as last year. If they increase the dividend the yield would go higher and if they reduce the yield would go lower.

Syndicate Bank last year declared a dividend of Rs 4.7 per share on a face value of Rs 10. The stock is currently trading at Rs 81, which takes the dividend yield to almost 6 per cent. Another top rated dividend stock.

Conclusion

While the above are stocks that pay good dividends, they may or may not be good picks at the current rates. We have analysed them on the basis of dividends and not as stocks that are value picks or on the basis of fundamentals. They may or many not be value picks. Investors should seek professional help before investing in these shares. These are analyzed on the basis of dividends declared.

GoodReturns.