A dividend is a payment a company makes to its shareholders, usually from its profits. If you are looking at dividend stocks, the yield helps you compare that payment with the price of a share. But a high yield alone does not tell you whether a stock is a good investment.
This article looks at ten Nifty 100 stocks ranked by the dividend yield calculated in the supplied 2026 spreadsheet. The figures cover dividends paid or declared from 1 January to 23 September 2026. They are a snapshot, so the ranking can change as companies announce more dividends or share prices move.
Contents
- What are dividend yield stocks?
- Top 10 highest dividend yield stocks in India 2026
- What to check before investing
- Conclusion
- FAQs
What Are Dividend Yield Stocks?
Dividend yield shows the dividend per share as a percentage of the share price:
Dividend yield = (Dividend per share ÷ Share price) × 100
For example, if a share costs ₹200 and the company pays a dividend of ₹10 per share, the yield is 5%.
There is one important detail about the list below: it uses dividends paid or declared during calendar year 2026 up to 23 September, divided by the reference share prices in the spreadsheet. It is not a standard trailing 12-month yield or a forecast of what an investor will receive over a full year.
Top 10 Highest Dividend Yield Stocks in India 2026
| Rank | Company Name | 2026 dividend per share | Calculated yield |
|---|---|---|---|
| 1. | Indian Oil Corporation Ltd. | ₹8.25 | 6.04% |
| 2. | Oil & Natural Gas Corporation Ltd. (ONGC) | ₹13.25 | 5.62% |
| 3. | Bharat Petroleum Corporation Ltd. (BPCL) | ₹17.50 | 5.60% |
| 4. | ITC Ltd | ₹14.50 | 5.43% |
| 5. | Tata Consultancy Services Ltd. (TCS) | ₹100.00 | 4.70% |
| 6. | HCL Technologies Ltd. | ₹60.00 | 4.68% |
| 7. | Power Finance Corporation Ltd. (PFC) | ₹15.10 | 4.38% |
| 8. | Vedanta Ltd. | ₹11.00 | 4.22% |
| 9. | Coal India Ltd. | ₹16.25 | 3.92% |
| 10 | Bank of Baroda | ₹8.50 | 3.64% |
Source: Supplied “Nifty100 2026 Dividend Yield” spreadsheet; data as of 23 September 2026. Figures are rounded to two decimal places. The ranking is among companies with compiled dividend figures in that spreadsheet, not every listed stock in India.
1. Indian Oil Corporation Ltd.
- Sector: Oil and gas
- Calculated 2026 yield: 6.04%
Indian Oil leads this list. The spreadsheet records ₹8.25 per share in dividends against a reference price of ₹136.53. Oil marketing companies can appeal to dividend-focused investors, but their earnings can be affected by fuel prices, refining margins and government policy. A strong yield in one period should be considered alongside those factors.
2. Oil & Natural Gas Corporation Ltd. (ONGC)
- Sector: Oil and gas exploration and production
- Calculated 2026 yield: 5.62%
ONGC explores and produces crude oil and natural gas. Its recorded dividend of ₹13.25 per share places it close behind Indian Oil. Because its business is tied to energy markets, investors should look at oil and gas prices as well as the company’s dividend history.
3. Bharat Petroleum Corporation Ltd. (BPCL)
- Sector: Oil refining and marketing
- Calculated 2026 yield: 5.60%
BPCL has a calculated yield of 5.60% in the spreadsheet, only slightly below ONGC. Its ₹17.50 dividend per share is larger in rupee terms, but dividend yield also depends on the share price. This is why the largest dividend payment does not always produce the highest yield.
4. ITC Ltd.
- Sector: Consumer goods and other businesses
- Calculated 2026 yield: 5.43%
ITC’s ₹14.50 dividend per share gives it a calculated yield of 5.43%. For investors comparing companies, ITC offers exposure to a different set of businesses from the energy stocks higher on this list. As with any dividend stock, the question is whether future profits and cash flows can support continued payouts.
5. Tata Consultancy Services Ltd. (TCS)
- Sector: Information technology services
- Calculated 2026 yield: 4.70%
TCS has the largest dividend per share in this top ten at ₹100, according to the spreadsheet. Its reference share price is also much higher, resulting in a calculated yield of 4.70%. The example shows why dividend amounts are best compared as a percentage of the price paid for a share.
6. HCL Technologies Ltd.
- Sector: Information technology services
- Calculated 2026 yield: 4.68%
HCL Technologies sits just below TCS, with ₹60 per share in recorded dividends and a calculated yield of 4.68%. Investors interested in IT dividends may also want to examine business growth and cash generation, since future payouts depend on more than past distributions.
7. Power Finance Corporation Ltd. (PFC)
- Sector: Power sector financing
- Calculated 2026 yield: 4.38%
PFC finances projects in the power sector. The spreadsheet records ₹15.10 per share in dividends, giving it a calculated yield of 4.38%. Alongside the yield, investors should consider the quality of its loan book and the risks connected with lending.
8. Vedanta Ltd.
- Sector: Metals, mining and natural resources
- Calculated 2026 yield: 4.22%
Vedanta appeared at the top of Profitmart’s 2025 dividend stock article. profitmart.in In this 2026 year-to-date calculation, it ranks eighth. The two rankings use different time periods and should not be read as a direct measure of how its dividend policy changed. Commodity prices, capital needs and debt are useful factors to review when assessing its payouts.
9. Coal India Ltd.
- Sector: Coal mining
- Calculated 2026 yield: 3.92%
Coal India has ₹16.25 per share in dividends recorded in the spreadsheet, producing a calculated yield of 3.92%. Investors should consider its earnings outlook and future cash requirements alongside its dividend record.
10. Bank of Baroda
- Sector: Banking
- Calculated 2026 yield: 3.64%
Bank of Baroda completes the top ten with a recorded dividend of ₹8.50 per share. For a bank, dividend sustainability needs to be considered together with profitability, loan quality and capital requirements.
What Should You Check Before Buying a Dividend Stock?
A high dividend yield can look attractive, but it deserves a closer look. The yield can rise simply because the share price has fallen. Dividends can also be reduced or skipped.
Before making a decision, check the company’s dividend history, earnings, cash flows, debt and plans for future spending. It also helps to compare companies within the same sector and confirm the latest dividend announcements and share price. The figures in this article are a dated snapshot, not an expected return.
Conclusion
Indian Oil, ONGC and BPCL lead this Nifty 100 list based on the spreadsheet’s 2026 dividend figures through 23 September. ITC, TCS, HCL Technologies and companies from other sectors also feature in the top ten.
Dividend yield is a useful starting point for research. It works best when you read it alongside the health of the business and the price you would pay today. No company’s past or declared dividend guarantees a future payment.
Disclaimer: Investments in the securities market are subject to market risks. Read all related documents carefully before investing. This article is for educational and informational purposes only and is not investment advice. Dividend amounts, share prices and yields may change. Consult a qualified financial adviser if you need advice suited to your circumstances.
FAQs
Indian Oil Corporation ranks first, with a calculated yield of 6.04% using the dividend and reference price recorded in the supplied spreadsheet as of 23 September 2026.
No. A yield may increase when a stock’s price falls, and future dividends are not guaranteed. Review the company’s finances and the reason for the yield before investing.
No. The dividend figures cover 1 January through 23 September 2026. The calculation is a year-to-date comparison, not a full-year result or a trailing 12-month yield.
Not necessarily. Eligibility depends on the relevant dividend’s record date, and a dividend already paid or declared earlier in the year should not be treated as a future payment.