1) IndiaBulls Housing

IndiaBulls Housing tends to declare dividends every quarter. Typically, in a period of downturn too the housing finance company declares a decent dividend. In fact, it is likely that this year we would see the company declare a dividend of Rs 40 per share.

Based on the current market price of Rs 500, the dividend yield on the stock works to a cool 8 per cent. Dividends up to a sum of Rs 10 lakhs is tax free in the hands of investors.

The company has been in the news for various allegations, but, it does not seem to reflect in the company's ability to declare dividends, nor on its financial numbers. In fact, the company from time to time has completely quashed all sorts of roumours on malpractices.

2) Karnataka Bank

This bank has a very consistent track record of declaring dividends every year. At the current market price of Rs 81, the shares of the company offer a dividend yield of 4.53 per cent. The bank also reported a good set of numbers for the quarter ending June 30, 2019.

In fact, profits at the bank has hit record highs for the quarter ending June 30, 2019. The carnage in banking and NBFC stocks has pulled down a stock like Karnataka Bank lower. In fact, the bank's stock price has now hit a new 52-week low.

At the current market price of Rs 81.25, you might want to consider buying the shares for the long term. The annual dividend yield is rather attractive.

3) Coal India

For the Financial Year 2018-19, Coal India declared a dividend of Rs 13.1 per share. At the current market price of Rs 203, the dividend yield on the stock works to around 6.53 per cent.

Coal India is a virtual monopoly business and is also a cash rich business. The company declares dividend twice a year, though that cannot be considered as certain.

The shares of Coal India recently fell to a 52-week low of Rs 198. The downside risk to the shares are limited given that the dividend yield becomes attractive.

Accumulate the stock on declines for a steady income stream

4) NMDC

Iron ore mining company, NMDC may continue to declare decent dividends even this year. NMDC declared a dividend of Rs 5.52 per share last year. If the company does maintain the same dividend as last year, it may yield a dividend of 5.32 per cent to shareholders NMDC is a government owned company with some assured iron ore mining blocks, which means business is assured. Also, it continues to be a cash rich company. Buy the stock for decent dividend yields.

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