Top 10 - Best Dividend Paying Stocks for Long Term in India 2023

There are people who are looking forward for best dividend paying stocks for the long term in India 2023 for retirement income. Investors mainly look forward for top dividend paying stocks in India 2023 for passive income. They mainly follow the historical data of highest dividend paying stocks in India in last 10 years and last 5 years for research and analysis purpose. Also there are people who are confused to conclude where to buy highest dividend paying penny stocks for investment or high dividend paying psu stocks or high dividend yield stocks blue chip for investment purpose.

Today we are going to discuss in detail based on top dividend paying stocks in India and high dividend yield stocks in India 2023-2024, so that you can take firm decision on your capital investment. When you are searching for best returns on investment for long term then you should first learn and take the knowledge on differences between high dividend yield stocks and stocks for long term investment.

You should also compare returns for best dividend paying stocks and best stocks for long term investment for analysis your portfolio. As you know everything in this world has advantages and disadvantages. Let us firstly understand key important facts about best dividend paying stocks in India 2023 for your long term investment strategies.

Table of Contents

Myths & Facts You Didn’t Know About Dividends

1) Inversely Proportion: Share price of the stocks is inversely proportion to dividend yield stocks / shares. For example: If dividend yield trend to move upwards then equity share value of the stock will gradually trend to move downwards.

2) Inconsistent Dividends: It is observed that dividend paying is not constant every year, it keeps on changing. It is rarely identified that companies who are listed among top dividend paying stocks in 2022 will also be listed under high yield dividend stocks for 2023 and 2024 years as well.

3) Falling in Bullish Market: Bullish trend of the market is the place where people trend to earn highest returns on their investment as share price moves in upward direction. In such cases dividend yield of the stocks will trend in downward direction, as stock price is inversely proportion to dividend of a stock.

4) Risk in Capital Appreciation: It is mainly observed that best dividend paying stocks for the long term may not give you as much as returns on investment as other stocks. When you choose to invest in top dividend stocks for long term, you can easily figure it out that returns in last 10 years for high yield dividend stocks is much lesser than ordinary equity stocks.

5) Misled to Investors: When company announces dividend rates and get listed in best long term dividend stocks, it is often that investor assumes that it’s a return on capital investment but it is not. Return on investment cannot be calculated based on high yield dividend stocks.

Let us further step inside and look deep into details to better understand this concept. Here we are going to list down best dividend stocks for the long term retirement income in India

Top 10 – Best Dividend Paying Stocks for the Long Term in India 2023

Below is the list of top 10 – best dividend paying stocks last 10 years for retirement income in India. Below table statistic is based on 2023 data. This list of top dividend stocks will assist you to choose which dividend paying stocks to buy for long term investment. This list may not be same when we look for top dividend stocks for 2023 or either year 2024 as it keeps on changing.

Sr.	Company Name	IV (Rs)	P/E Ratio	EPS	Dividend Payout	Avg. 3 Yrs Dividend
1	Bata India Limited	242.30	82.52	22.71	680.10	212.72
2	IDFC Limited	45.13	14.95	4.55	249.33	66.26
3	Goodyear India Limited	751.34	23.18	49.31	224.22	186.45
4	Reliance Industrial Infrastructure Limited	98.05	269.80	4.56	199.74	105.23
5	Tamil Nadu Newsprint & Papers Limited	153.25	19.05	12.79	193.66	64.57
6	Kewal Kiran Clothing Limited	150.60	27.22	15.37	143.41	120.68
7	Tata Investment Corporation Limited	1,223.90	55.59	48.50	138.21	108.86
8	Esab India Limited	887.99	57.48	58.18	109.52	124.87
9	Advani Hotels & Resorts (India) Limited	27.24	22.55	3.75	99.35	59.10
10	Torrent Power Limited	332.57	13.57	15.59	95.28	61.24

Return on Top Dividend Paying Stocks in India 2023

From best dividend and bonus paying stocks in India 2023, we have analyzed and calculated returns of high dividend yield stocks India 2023. Let us now look for the returns on capital investment, when invested in highest dividend paying stocks in India in last 10 years for long term.

Sr.	Company Name	Jan’ 2013	Jan’ 2023	Returns in 10 Years
1	Bata India Limited	139.00	1,874.00	1248%
2	IDFC Limited	33.00	78.00	136%
3	Goodyear India Limited	275.00	1,143.00	316%
4	Reliance Industrial Infrastructure Limited	682.00	1,230.00	80%
5	Tamil Nadu Newsprint & Papers Limited	183.00	244.00	33%
6	Kewal Kiran Clothing Limited	38.00	419.00	1003%
7	Tata Investment Corporation Limited	599.00	2,697.00	350%
8	Esab India Limited	377.00	3,346.00	788%
9	Advani Hotels & Resorts (India) Limited	60.00	85.00	42%
10	Torrent Power Limited	129.00	541.00	319%
	Average Returns (%)			432%

From the above calculation, we have observed that when you invest Rs.1,00,000 in high yield dividend stocks for long term in India, you can expect an average return of Rs.7,31,000/- (average 731% returns in last 10 years) on your investment apart for your dividend income.

You can also learn how to calculate stock market returns and check the calculation mentioned above. The data here look exciting when you compare with returns you get from your bank saving account interest rate. You can even read more about how to invest in stock market along with top 10 best investment plan in India.

When you compare this data from best stocks you may thing that your decision towards investment in best dividend stocks is inappropriate. To better understand, you should also check out best stocks for long term investment in India to see the difference on returns between best dividend paying stocks for the long term in India and best stocks to buy for long term. Hope you will get all your answers for your questions.

Top 100 – List of Highest Dividend Paying Stocks in India 2023

Here are some of the other high dividend paying PSU stocks, dividend paying penny stocks with good fundamentals as well as dividend paying multibagger penny stocks in India for 2023. This below list exclude the above “Top 10 – Best Dividend Paying stocks in India 2023”. You can use this data for your analysis purpose.

Sr.	Company Name	IV (Rs)	P/E Ratio	EPS	Dividend Payout	Avg. 3 Yrs Dividend
1	Maharashtra Scooters Limited	15,762.40	44.05	124.25	64.07	248.18
2	TVS Electronics Limited	89.09	27.80	10.39	24.70	247.34
3	Compucom Software Limited	21.48	18.81	1.29	24.79	232.92
4	Weizmann Limited	30.28	33.78	2.74	22.85	206.34
5	Siyaram Silk Mills Limited	393.37	9.16	49.20	20.28	160.02
6	Precision Camshafts Limited	59.93	46.62	4.55	22.71	154.44
7	IIFL Wealth Management Limited	N/A	26.80	69.65	84.44	112.58
8	Procter & Gamble Hygiene and Health Care Limited	2,350.60	82.60	177.37	90.21	108.59
9	Swaraj Engines Limited	1,810.97	17.92	95.00	88.72	82.51
10	Asm Technologies Limited	113.78	44.58	12.95	58.18	80.41
11	Selan Exploration Technology Limited	284.17	25.63	11.41	76.61	77.43
12	RITES Limited	531.77	12.32	24.22	79.11	72.10
13	Page Industries Limited	9,239.28	76.02	656.83	76.89	70.35
14	Ambuja Cements Limited	228.28	47.53	11.92	44.99	70.10
15	CRISIL Limited	935.97	46.56	74.06	71.99	68.93
16	Praveg Communications (India) Limited	98.75	25.52	9.46	60.44	67.41
17	Jyothy Labs Limited	66.36	40.62	4.61	56.68	65.00
18	VRL Logistics Limited	198.93	26.61	24.40	44.14	64.24
19	Menon Bearings Limited	92.33	23.07	4.77	45.66	62.52
20	Cummins India Limited	329.58	39.69	30.62	57.84	62.27
21	Prime Securities Limited	154.26	22.19	5.22	41.32	62.23
22	Ador Fontech Limited	69.96	13.06	6.57	68.79	61.66
23	Coal India Limited	528.63	6.22	37.36	60.36	60.75
24	Polyplex Corporation Limited	3,133.56	10.31	205.25	58.46	60.17
25	SJVN Limited	38.07	10.05	3.20	67.50	58.40
26	Ingersoll Rand (India) Limited	356.59	54.20	36.74	57.33	58.30
27	Vinyl Chemicals (India) Limited	430.53	38.34	21.55	52.50	57.28
28	Praj Industries Limited	146.90	42.90	9.22	51.34	56.80
29	Tata Elxsi Limited	1,705.55	88.65	99.72	48.15	56.50
30	Bosch Limited	5,461.65	38.93	437.94	50.90	56.29
31	Uniphos Enterprises Limited	467.19	21.12	6.77	71.97	56.23
32	Container Corporation of India Limited	204.16	42.09	17.94	51.97	55.54
33	PTL Enterprises Limited	34.61	14.57	2.28	80.27	55.06
34	Blue Star Limited	229.31	45.61	23.80	57.42	54.34
35	D.B.Corp Limited	143.71	11.96	11.10	62.10	54.28
36	Sunteck Realty Limited	69.95	140.17	3.21	84.03	54.23
37	Hercules Hoists Limited	87.58	42.78	4.96	55.69	53.97
38	Saven Technologies Limited	38.71	12.27	3.38	65.86	53.62
39	Apcotex Industries Limited	363.82	29.16	21.31	26.24	53.62
40	Sun Pharmaceutical Industries Limited	276.14	27.43	16.21	73.31	53.59
41	Power Grid Corporation of India Limited	186.92	11.39	20.97	61.16	53.54
42	Asian Paints Limited	620.32	90.12	36.27	60.61	52.57
43	Foseco India Limited	738.77	31.88	62.43	48.90	52.41
44	Foseco India Limited	738.77	31.88	62.43	48.90	52.41
45	NHPC Limited	33.07	10.63	3.64	51.60	50.98
46	Rashtriya Chemicals and Fertilizers Limited	125.89	7.31	14.40	30.24	49.90
47	Wendt (India) Limited	1,345.73	53.97	141.50	48.02	48.29
48	Joindre Capital Services Limited	94.09	8.71	3.67	27.59	47.01
49	OnMobile Global Limited	30.75	62.81	1.91	48.80	46.79
50	Mold-Tek Technologies Limited	91.84	20.17	4.65	59.47	45.91
51	Pressman Advertising Limited	24.16	27.51	1.64	52.11	45.91
52	Saint-Gobain Sekurit India Limited	52.57	33.12	5.60	57.31	45.70
53	Trident Limited	12.00	25.07	1.48	22.00	45.01
54	Grindwell Norton Limited	459.82	76.07	29.25	44.94	44.80
55	Apollo Tyres Limited	196.70	26.22	11.05	34.81	44.77
56	Control Print Limited	420.34	18.01	26.42	36.65	44.68
57	Onward Technologies Limited	112.46	34.53	7.46	27.90	44.41
58	Redington (India) Limited	229.94	8.87	17.39	40.30	44.10
59	Menon Pistons Limited	45.18	16.05	3.57	21.39	43.57
60	Bharat Electronics Limited	53.58	29.65	3.75	45.71	43.18
61	Kabra Extrusion Technik Limited	102.82	39.75	9.81	32.02	43.01
62	Creative Castings Limited	322.80	21.24	28.23	39.63	42.92
63	Tata Chemicals Limited	827.83	18.20	61.17	25.33	42.91
64	Sinclairs Hotels Limited	43.55	24.81	4.79	39.06	42.00
65	National Fittings Limited	35.39	23.28	2.58	67.76	41.04
66	Garden Reach Shipbuilders & Engineers Limited	198.21	18.39	19.13	35.05	40.80
67	Unichem Laboratories Limited	217.38	130.18	3.01	85.18	40.15
68	Stovec Industries Limited	1,923.92	21.23	164.42	40.19	39.74
69	Gandhi Special Tubes Limited	552.18	14.50	31.93	31.53	39.37
70	Tata Power Company Limited	89.51	35.12	6.71	32.11	39.09
71	Sun TV Network Limited	823.83	11.58	44.93	33.00	39.02
72	Kajaria Ceramics Limited	311.32	45.26	26.78	46.45	38.93
73	Jamna Auto Industries Limited	90.54	29.59	3.98	42.45	38.89
74	Mold-Tek Packaging Limited	422.92	44.73	23.85	39.28	38.74
75	Oil & Natural Gas Corporation Limited	569.24	3.35	40.92	29.02	38.34
76	Morarka Finance Limited	1,064.64	7.01	18.95	48.78	38.00
77	Aegis Logistics Limited	212.96	25.08	11.23	24.54	37.99
78	Mazagon Dock Shipbuilders Limited	444.09	13.08	35.24	30.02	37.88
79	Lumax Auto Technologies Limited	134.31	22.22	12.88	34.36	37.66
80	Bharat Dynamics Limited	370.12	29.59	30.59	30.43	37.61
81	Kennametal India Limited	1,072.13	52.43	52.10	46.11	37.39
82	Pidilite Industries Limited	402.87	108.43	26.39	42.09	37.38
83	Maruti Suzuki India Limited	2,156.03	63.86	147.00	46.71	36.53
84	NTPC Limited	192.47	9.71	17.74	40.70	36.11
85	BEML Limited	735.60	45.72	33.71	32.43	36.02
86	Thermax Limited	321.73	92.27	27.60	32.45	35.90
87	Elgi Equipments Limited	98.60	74.24	6.79	20.42	35.53
88	Fluidomat Limited	169.37	12.43	12.08	31.43	35.45
89	Larsen & Toubro Limited	945.02	29.99	65.46	35.66	35.26
90	Cochin Shipyard Limited	935.35	8.82	45.86	37.56	35.09
91	Atam Valves Limited	48.02	97.97	3.52	56.97	34.81
92	Lumax Industries Limited	1,020.79	21.66	64.14	35.63	34.81
93	Morganite Crucible (India) Limited	693.06	16.21	73.21	69.69	34.61
94	United Breweries Limited	362.76	87.70	18.78	75.96	34.36
95	ABB India Limited	445.77	118.06	38.77	21.20	34.35
96	Tribhovandas Bhimji Zaveri Limited	55.51	15.75	4.86	33.07	34.26
97	CCL Products (India) Limited	214.44	32.76	16.03	32.55	33.95
98	Navneet Education Limited	94.88	16.62	11.30	25.86	33.86
99	GPT Infraprojects Limited	122.00	13.66	9.53	35.85	33.61
100	Monte Carlo Fashions Limited	831.62	14.89	58.02	36.36	33.26

In the above table you have observed Top 100 companies that are listed among best dividend paying stocks for the long term 2023 in India. If you are looking forward towards highest dividend paying stocks in India 2023, then you should definitely consider this above list for analyzing your data.

You also do research on best mutual funds to invest in India before you conclude yourself, you should thoroughly do research will much more information before thinking to investment in best dividend paying stocks for the long term in India.

Conclusion

As after reviewing top dividend paying stocks in India 2023, we can conclude that if you are looking forward for high yield dividend paying stocks then return on capital investment will be not so attractive as other stocks. I would recommend you to look forward for highest return stocks / shares rather than highest dividend stocks. But finally it depends upon everyone’s perception where to look for highest dividend paying stocks in India 2023 for long term investment with upside growth potential or good stocks to buy. Hope this learning course has enhance your knowledge and helped you to take right step in your capital investment.

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