“Dividend Yield” is a ratio that shows how much income one earns in dividend payouts per year for every rupee invested in a stock. It also covers returns by way of dividends in mutual funds, exchange-traded funds (ETF). Listed below are three stocks under the ‘Large-cap’ category having a high dividend yield:
Union Bank of India Limited
With a market capitalization of Rs 61,546 crores, the shares of Union Bank of India Limited closed at Rs 90.05 on Friday, a dip of approximately 2.20 percent as compared to the previous closing levels of Rs 92.10 apiece.
During FY22-23, the company declared a final dividend of Rs 3 per equity share which exhibits a dividend yield of 3.33 percent.
Established in 1919, Union Bank of India Limited is a banking institution offering various banking products such as regular current accounts, capital gains deposit schemes, savings accounts, etc.
Canara Bank Limited
With a market capitalization of Rs 62,270 crores, the shares of Canara Bank Limited closed at Rs 343.25 on Friday, a dip of approximately 0.50 percent as compared to the previous closing levels of Rs 344.80 apiece.
During FY22-23, the company declared a final dividend of Rs 12 per equity share which exhibits a dividend yield of 3.50 percent.
Canara Bank Limited is a commercial bank that offers personal banking services comprising savings, current as well as salary accounts, recurring deposits, debit and credit cards, and many more.
HCL Technologies Limited
With a market capitalization of Rs 3 Lakh crores, the shares of HCL Technologies Limited closed at Rs 1,103.55 on Friday, a dip of approximately 1.25 percent as compared to the previous closing levels of Rs 1,117.35 apiece.
During FY22-23, the company declared a total interim dividend of Rs 66 per equity share which exhibits a dividend yield of 5.98 percent.
HCL Technologies Limited is engaged in the business of providing Information Technology (IT) solutions to enterprises in India. The company focuses on Internet of Things (IoT) services, cybersecurity, automation, etc.
Written by Amit Madnani
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