Top 20 Dividend Stocks in India 2026: High Yield, Consistent Payers
Criteria for This List
Stocks included meet all four criteria: (1) Dividend yield above 2.5% at current prices, (2) Consistent dividend payments for at least 5 consecutive years, (3) Dividend payout ratio between 20% and 80% (sustainable), (4) Market cap above ₹10,000 crore (large/mid-cap stability).
Top Dividend Stocks by Sector
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PSU Energy — Highest Absolute Yields
| Stock | Sector | Approx Yield | 5Y Dividend CAGR | Payout Ratio |
|---|---|---|---|---|
| Coal India | Mining | 7–9% | 8% | ~70% |
| ONGC | Oil & Gas | 5–7% | 4% | ~40% |
| Oil India | Oil & Gas | 5–8% | 6% | ~45% |
| Power Grid Corp | Power | 4–6% | 12% | ~50% |
| NTPC | Power | 3–5% | 8% | ~40% |
FMCG & Consumer — Reliable Long-Term Payers
| Stock | Sector | Approx Yield | Dividend Consistency | Notes |
|---|---|---|---|---|
| ITC | FMCG/Hotels | 3–5% | 25+ years | High payout, hotel diversification |
| Hindustan Unilever | FMCG | 1.5–2.5% | 30+ years | Premium valuation, consistent |
| Nestle India | FMCG | 1–2% | 20+ years | High P/E, special dividends |
| Marico | FMCG | 1.5–2.5% | 15+ years | Consistent, growing |
IT Services — Growing Dividends
| Stock | Approx Yield | Dividend Growth (5Y CAGR) | Special Dividends? |
|---|---|---|---|
| Infosys | 2–3% | 15% | Yes (periodic) |
| TCS | 1.5–2% | 12% | Yes (special interim) |
| HCL Technologies | 3–4% | 18% | Yes |
| Wipro | 0.5–1% | 10% | No |
Dividend Aristocrats: The Indian Version
While India doesn’t have an official ‘Dividend Aristocrats’ index like the US, a practical definition is companies that have increased dividends for 10+ consecutive years. This list includes: ITC, Infosys, TCS, HUL, Asian Paints, Pidilite Industries, Bajaj Auto, and Eicher Motors.
Disclaimer
The stocks mentioned in this article are not recommendations. Please conduct your own research and due diligence before investing. Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. Lemonn (Formerly known as NU Investors Technologies Pvt. Ltd) do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.
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