Dividend yield shake-up: Vedanta drops to 7th place, small cap surprise for top position. View the top 10 stocks

Vedanta’s position as one of India’s largest dividend-paying stocks has further weakened, with the metal giant slipping to seventh place based on the closing price as of December 31, 2025, according to a note from SBI Securities. The top position is now occupied by the lesser-known Multibase India, followed by Allcargo Logistics and Premco Global, underscoring a shift in the dividend yield rankings.Vedanta’s dividend yield in FY25 was 7.2%, compared to 8.8% on October 31, 2025. It ranked second in SBI Securities’ latest bond issued on November 3, 2025, behind Premco Global. The Anil Agarwal company’s dividend yield for FY25 is sharply lower than 16.8% in FY23, the note said.

In contrast, Multibase India’s dividend yield rose to an astonishing 24.8% for FY25, compared to 1.4% in FY24 and 0.9% in FY23. The company offers a wide range of specialty and intermediate chemicals for use in consumer markets or industrial applications, and its market capitalization on the BSEW stands at Rs 270.57 crore.Allcargo Logistics’ dividend yield for FY25 was 10.8%, while Premco Global’s was 10.4%.

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The dividend yield is calculated based on the closing price of December 31, 2025, and the brokerage has taken into account companies that have consistently paid dividends over the past three financial years.

While the dividend yield of Indian listed companies is determined by a mix of financial performance, regulatory provisions and management policies, the change in yield could be a result of a movement in the share price. A strong rally in stock prices can reduce the dividend yield. Vedanta shares are up 35% in the past year.

Meanwhile, Multibase India’s interim dividend of Rs 53 per share in November was a hefty payout compared to previous dividends. The company rewarded its investors despite a 37% drop in share price in one year.

All shares of Cargo Logistics and Premco Global saw their shares fall by 79% and 0.6% in twelve months.

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Others in the top 10 list:

Next in line are Jagran Prakashan, MSTC, PTC, Accelya Solutions India, Castrol India and Coal India, which have a dividend yield between 8.4% and 6.6%.

Other widely followed stocks with relatively high dividend yields are ONGC (5.1%), REC (5%), Quess Corp (4.9%), Hindustan Zinc (4.7%), Power Finance Corporation (PFC, 4.4%), GAIL (4.4%), NMDC (4%), Tata Consultancy Services (3.9%), HCL Technologies (3.7%), ITC (3.6%) and Oracle Financial Services (3.4%).

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)