Stocks may give high dividends

Mumbai: With the financial year drawing to a close, it's time to look at high dividend earning companies that would declare handsome dividends for the financial year 2022-23.

Typically, annual dividends which companies declare are higher when their profits are higher in the financial year.

Top large cap companies  which can dividend yield  for the current fiscal year (FY21-22) include Vedanta, Hindustan Zinc Ltd, Coal India Ltd, ONGC, GAIL, SAIL, Power Grid Corpor-ation, Tata Steel, HCL Tec-hnologies, Tech Mahin-dra, Hero MotoCorp, NTPC Ltd and Bharat Electronics Ltd.

Top mid-cap dividend yield companies for current fiscal year (FY 21-22) include REC, Oil India, Glaxosmithkline Pharma-ceuticals, Power Finance Corporation, Hindustan Petroleum Corporation Ltd, Indian Railway Fina-nce Corp, ICICI Securi-ties, NHPC, Petronet LNG and Bata India.

Top small-cap dividend yield companies for current fiscal year include IDFC, Balmer Lawrie Investment, TV Today Ne-twork, Forbes & Company, Goodyear India, Rites, PNB Gilts, and PTC India.

"Since we are witnessing double-digit earnings growth in the financial year 2022-23, there is a high probability that the dividend distribution by companies in the market will be higher than last year though the contribution of dividends from metals and commodity players might reduce wh-ile from financials might increase," said Nishit Master, portfolio manager, Axis Securities Portfolio Management Services.