8 PSU Stocks That Offered Lowest Dividend Yield

Leading state-run companies announced record dividend that crossed Rs 1 lakh for second consecutive year. But, more than half of the dividend or Rs 56,500 crore came from top five PSU companies namely ONGC, State Bank of India, NTPC, Power Grid Corp, and Coal India.

According to data compiled by Bloomberg of more than 90 PSUs, a few PSU stocks offered lowest dividend yield ranging from 0.20% to o.48%. In the list, SBI Life Insurance offers a meager dividend yield of just 0.20%, New India Assurance provides a dividend yield of 0.24%, Shipping Corporation of India offering just 0.28% dividend yield.

SBI Card & Payment Services gives a dividend yield of just 0.30%, KIOCL Ltd has a dividend yield of 0.35%, BHEL's dividend yield is 0.41%. LIC and Can Fin Homes offer dividend yield of 0.46% and 0.48%, respectively.

Life Insurance Corporation of India figure in the list of India's largest IPO till date, however, it offers a low dividend yield of 0.46% only and ranked behind most of its peers. Even SBI Card and Payment Services did not offer much high dividend yield and ranked quite low in comparison with its several of its peers.

Current market price of Life Insurance Corporation of India share is Rs 653.40 apiece with intraday gain of 0.24% on BSE. Its 52-week high price is Rs 754.40 apiece and 52-week low price is Rs 530.20 apiece.

It is worth noting that LIC got listed at Rs 867.20, a discount of 8.62% from the issue price of Rs 949 per share on the BSE on May 17, 2022.

LIC shares declined 3% in last 1-year and fell 8% year-to-date.
In last 3-months, LIC shares gained over 13%. LIC shares announced 2 dividends since August 25, 2022. In last 12 months, LIC declared an equity dividend of Rs 4.50 per share, according to Trendlyne data.

Current market price of SBI Cards and Payment Services share is Rs 834.45 apiece with intraday fall of 0.32%. Its 52-week high price is Rs 982.20 apiece and 52-week low price is Rs 690.90 apiece, respectively.

Its market capitalisation is Rs 78,978.44 crore. SBI Cards and Payment Services shares declined 7% in last 1-year and 16% in last 2-years. In last 3-months, SBI Cards and Payment Services stock fell 6% and gave return of 12% in last 12 months.

SBI Cards and Payment Services Ltd announced 3 dividends since May 15, 2020. In last 12 months, it announced an equity dividend of Rs 2.50 per share, as per Trendlyne data.