With the stock market witnessing huge amounts of volatility over the past few weeks, many stocks lost a lot of their value. In these unpredictable times, investors have been picking high dividend yield stocks. Here we take a look at stocks with the highest dividend yields over the past three years. Not surprisingly, many of them are government-owned.
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Bharat Petroleum Corp: This state-run oil-marketing company has one of the highest dividend yields in the past three years among the Nifty 500. Its three-year average dividend yield stands at 12.3%. The company increased its dividend payout in FY22. Over the last three years, it has declared eight dividends and in the past 12 months, declared six dividends. Its one-year dividend yield is 22.1%, which is higher mainly due to the special dividend of Rs 35 that got added to the final dividend of Rs 23, taking the total to Rs 58 per share.
In FY22 the company declared four dividends worth Rs 68 per share, and in FY21 two dividends worth Rs 21 per share. In FY20 it declared two dividends worth Rs 24.5 per share. Overall, in three financial years the company declared dividends worth Rs 113.5 per share. However, the company’s stock fell 8.1% in the same period. Being a public sector company, Bharat Petro is required to pay a minimum annual dividend of 30% of net profit or 5% of net worth, whichever is higher subject to the maximum dividend permissible under law.
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Power Finance Corp: This state-run NBFC’s three-year average dividend yield stands at 10.2%, and during the same time period it declared seven dividends worth Rs 31.5 per share. The company increased its dividend payout in FY22. The frequency of dividend pay-outs rose in the last 12 months, as it declared five dividends amounting to Rs 14 per share.
In FY22, Power Finance declared four dividends amounting to Rs 12.75 per share, while in FY21, the company declared one dividend worth Rs 8 per share and one dividend worth Rs 9.5 per share the year before. Despite a rise in dividend payouts the stock is down 5.9% over the past three financial years.
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REC: This infrastructure public sector NBFC’s three-year average dividend yield stands at 9.7%. During FY22, the company declared four dividends worth Rs 12.2 per share, increasing its dividend payout in FY22. In FY21 the company declared two dividends worth Rs 11 per share and one dividend worth Rs 11 per share during FY20. The company has maintained a consistent dividend payout over the past three years. However, the stock fell 15.2% over that period. The company’s net profit in the last two years rose significantly, up 20.1% and 71.1% YoY respectively in FY22 and FY21.
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NMDC: This state-owned miner’s three-year average dividend yield stands at 8.8% and it declared four dividends totaling Rs 27.8 per share between FY 20-22. The company has been increasing its dividend payout annually over the past three financial years. During FY22, it declared two dividends amounting to Rs 14.7 per share, and one dividend worth Rs 7.76 per share in FY21, In FY20 it declared just one dividend worth Rs 5.29 per share. While the company’s stock was volatile during FY 20-22, as a whole its stock rose 51.1% during the same period. Its annual net profit in FY22 rose 49.4% YoY to Rs 9,379.6 crore and in FY21 it rose 75.7% YoY to Rs 6,277 crore.
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Indian Oil Corp: This oil marketing company’s three-year average dividend yield stands at 8.1% and over the same period it declared seven dividends amounting to Rs 26.25 per share. The company’s dividend payout has been increasing annually over the past three financial years. In FY22, the company declared three dividends totaling Rs 10.5 per share, another two dividends worth Rs 10.5 per share in FY21 and two dividends worth Rs 5.3 per share in FY20. However, during these three years the stock fell an overall 26.1%. The company turned profitable on an annual basis in FY21, after incurring a loss in FY20 and FY19.
