Dividend yield shake-up: Vedanta drops to 7th, smallcap surprise for top slot. Check top 10 stocks

Vedanta’s standing as one of India’s top dividend-paying stocks has weakened further, with the metal major slipping to seventh place based on the December 31, 2025, closing price, according to a note by SBI Securities. The top position is now held by the lesser-known Multibase India, followed by Allcargo Logistics and Premco Global, underscoring a shift in the dividend yield leaderboard.

Vedanta’s dividend yield in FY25 stood at 7.2%, down from 8.8% as on October 31, 2025. It was at the second spot in SBI Securities’ last note released on November 3, 2025 and behind Premco Global. The Anil Agarwal company’s FY25 dividend yield is sharply lower from 16.8% in FY23, the note said.

In contrast, Multibase India’s dividend yield jumped to an astonishing 24.8% for FY25 compared to 1.4% in FY24 and 0.9% in FY23. The company offers a wide variety of speciality and intermediate chemicals for use in consumer markets or industrial applications, and its market capitalisation on the BSEW is Rs 270.57 crore.

Allcargo Logistics’ dividend yield for FY25 stood at 10.8% while 10.4% for Premco Global.

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The dividend yield is computed based on the closing price of December 31 2025, and the brokerage has considered companies that have consistently paid dividends in the last 3 financial years.

While the dividend yield of Indian listed companies is guided by a mix of financial performance, legal provisions, and management policy, the change in yield could be a consequence of a movement in share price. A strong rally in stock prices can lower the dividend yield.Vedanta shares have rallied 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% slide in its share price over 1 year.

All Cargo Logistics and Premco Globalshares have seen their shares slip 79% and 0.6% over 12 months.

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Others in top 10 list:

The next in line are Jagran Prakashan, MSTC, PTC, Accelya Solutions India, Castrol India and Coal India, which have dividend yields between 8.4% and 6.6%.

Other widely followed stocks that have relatively high dividend yield 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 given by the experts are their own. These do not represent the views of The Economic Times.)