Investors who desire for a regular passive income move towards dividend paying stocks, Dividend stocks satisfy investors by regularly rewarding them with healthy dividends which is a part of the profit generated or cash kept by the company. These are the top three Mid-cap Public Sector Undertaking (PSU) stocks with a high dividend yield of upto 6.66 percent.
Oil India Limited
On November 6,2023 the shares of Oil India Limited were trading at Rs. 309.45 a piece, up 1.99 percent from its previous day close price of Rs. 303 and its market capitalization is Rs. 33,540Crores. It has a high dividend yield of 6.66 percent.
Its revenue grew 39.34 percent from Rs. 25,905.59 Crores in FY22 to Rs. 36,097.38 in FY23, accompanied by increasing profits of Rs. 5,621.63 Crores to Rs. 8,728.59 Crores.
It has reported a return on equity (ROE) of 28.55 percent and a return on capital employed (ROCE) of 27 percent, it is making good returns on its equity and capital employed.
Oil India Limited is a Maharatna central public sector enterprise under the ministry of petroleum and natural gas, engaged in the exploration, development and transportation of crude oil, natural gas and LPG.
Petronet LNG Limited
In the same time period as above the shares of Petronet LNG Limited were trading at Rs. 201.20 a piece, up 2.58 percent from its previous day close price of Rs. 196.15 and its market capitalization is Rs. 30,187 Crores. It has a high dividend yield of 5.13 percent.
Its revenue grew 38.76 percent from Rs. 43,168.57 Crores in FY22 to Rs. 59,899.35 Crores in FY23, accompanied by decreasing profits of Rs. 3,438.12 Crores to Rs. 3,325.82 Crores.
It has reported a return on equity (ROE) of 22.99 percent and a return on capital employed (ROCE) 32.19 percent, it is making good returns on its equity and capital employed.
Petronet LNG Limited is a Public Sector Undertaking which started a joint venture between GAIL, Indian Oil Corporation, Bharat Petroleum and ONGC for the purpose of importing and processing and selling of Liquefied natural gas (LNG) and set up LNG terminals in India.
National Aluminium Company Limited
In the day’s trade on November 6,2023, the shares of National Aluminium Company Limited were trading at Rs. 94.90 a piece, up 2 percent from its previous day close price of Rs. 93.02 and its market capitalization is Rs. 17,420 Crores. It has a high dividend yield of 4.82 percent.
Its revenue grew 0.28 percent from Rs. 14,214.58 Crores in FY22 to Rs. 14,254.86 Crores in FY23, accompanied by decreasing profits of Rs. 2,951.41 Crores to Rs. 1,434.66 Crores.
It has reported a return on equity (ROE) of 11.17 percent and a return on capital employed (ROCE) of 14.47 percent, it is making good returns on its equity and capital employed but its profitability ratios have decreased considering its previous year.
National aluminium company limited (NALCO) is a navratna central public sector enterprises under the ministry of mines, it is one of the largest integrated Bauxite Alumina Aluminium Power Complex in India and it is engaged in the mining, manufacturing and selling of alumina, aluminium and other related products.
Written by: Bharath K.S
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