Five Indian stocks offering dividend yields up to 10%

A trailing dividend yield is calculated by dividing the dividends paid over the last 12 months by today's share price. While most screeners use this metric to rank high-yield dividend stocks, it can be misleading for three reasons: a one-time special dividend, changes in share count or business fundamentals after the payout, or a dividend that has already gone ex-dividend, meaning new buyers will not receive it. That is why examining these factors is crucial before investing in high-yield dividend stocks.

We have done the heavy lifting for you. Today, we look at five Indian stocks offering dividend yields of up to 10%.

We selected these five stocks by rebuilding each yield directly from its dividend record, using the share price on the dates shown. We also verified payout types (regular or special), record dates, earnings, and balance sheets.

#1 Jagran Prakashan

Jagran Prakashan (JPL) is a highly diversified Indian media conglomerate. It operates 8 print publications across 13 states in 10 different languages. It's best known for publishing Dainik Jagran, the most widely read daily newspaper in India, with a readership of 69 million.

Through its subsidiary Music Broadcast, in which it holds a 74% stake, the company operates the popular Radio City brand. It boasts a 17% market share during FY26.

Jagran Prakashan paid a dividend of ₹10 per share for FY26, including a special dividend of ₹3. This implies a yield of 16%. Excluding the special dividend, the yield is 11.3%.

The company paid a total dividend of ₹210 crore in FY26. JPL generated free cash flow of ₹230 crore in FY26 and has consistently generated positive free cash flow for more than a decade. A strong net cash balance of over ₹1,200 crore also helps the company fund dividends to shareholders.

In Q1FY27, its sales rose 8.5% to ₹500 crore, but profit fell 9% to ₹61 crore.

Looking ahead, JPL is navigating a mixed business environment. Dainik Jagran's advertisement revenue grew 4% year-on-year to ₹870 crore in FY26, while circulation revenue declined 2% to ₹280 crore.

JPL has implemented several initiatives to drive circulation growth. Management expects the results of these efforts to become apparent in the coming quarters.

#2 SBI Funds Management

SBI Funds Management is comfortably India's largest asset management company (AMC) by quarterly average assets under management (QAAUM), a position it has held since March 2021. Its mutual fund QAAUM stood at ₹12.51 trillion as of 31 March 2026, or 15.3% of the industry. Its total QAAUM, including portfolio management, alternative investment fund and advisory mandates, reached ₹29.46 trillion.

The company was listed on 21 July 2026 at ₹613 a share, a 6.85% premium to the ₹574 issue price, and currently trades at ₹500.

Its numbers are temporarily elevated because of pre-IPO capital restructuring, including a special dividend and bonus issue, which reduced reported net worth.

Its high yield is a result of the interim dividend of ₹70 a share paid in November 2025, before a bonus issue, and a ₹9.60-a-share dividend in March 2026.

SBI Funds Management has a lower active equity share and leads passive funds, with a 27.9% share in index funds and ETFs, which earn much lower fees.

A meaningful part also comes from institutions and the Employee Provident Fund Organization (EPFO), another lower-yielding pool. Its equity performance has been middling, too, with less than 56% of equity AUM in the top two quartiles over three years.

Going forward, the company’s prospects depend on the growth of passive investing in India, which continues to gain market share at the expense of active funds.

#3 Expleo Solutions

Expleo Solutions is not a pure-play cybersecurity firm. Cybersecurity is simply one growth area within its broader IT engineering, testing, BFSI technology, and digital transformation business. This opportunity is driven by rising enterprise spending on secure software, cloud solutions, automation, and regulatory compliance.

On 28 July 2026, Expleo Solutions' board recommended a final dividend of ₹110 for FY26, which yields 12.25% at a share price of ₹897.

The payout equals 138% of its FY26 EPS of ₹79.89 and will cost roughly ₹170 crore, compared with an FY26 net profit of about ₹120 crore. As Expleo Group holds a 71.05% stake, most of this dividend flows to the promoters.

The company posted strong performance in Q1 FY27, with revenue growing 12.3% and operating margin expanding to 14.52% from 11.45%.

However, management signaled headwinds in a recent earnings call, warning that margin and top-line pressures will persist as part of a broader global trend. They also noted that overall deal ticket sizes are shrinking due to the rise of artificial intelligence.

To counter this, the company is shifting its FY27 strategy toward acquiring new clients, after prioritizing existing accounts last year. Meanwhile, it has inaugurated a significantly larger facility in Bengaluru to tap growing demand in aerospace and defence.

#4 Vedanta

Following a multi-way demerger that spun off its aluminium, power, oil and gas, and iron and steel units into separately listed entities, the remaining listed Vedanta entity is now a focused base-metals company centered on zinc, copper, nickel, and ferrochrome.

Its domestic copper footprint comprises the Silvassa refinery and its two operational copper rod plants, along with the Thoothukudi smelter and refinery in Tamil Nadu. The Thoothukudi facility has been shut since 2018 following a pollution-related closure order, which the Supreme Court declined to overturn on review in November 2024.

Vedanta's current 13.79% yield reflects ₹34 in FY26 dividends relative to a share price of ₹246. Those dividends were paid on pre-demerger shares, which were priced near ₹773 on 29 April 2026.

Overall, Vedanta maintains a track record of regular and generous dividend payouts.

Looking ahead, the company’s growth prospects hinge on the ambitious copper expansion story tied to the Vedanta name: a roughly $270 crore plan to nearly quadruple annual output at Zambia's Konkola Copper Mines (KCM) to 270,000–300,000 tonnes by 2031. This initiative will be executed through a newly listed US entity, CopperTech Metals, situated one level up under Vedanta Resources—the UK-domiciled parent that has held KCM since 2004.

Its roadmap also relies on Hindustan Zinc’s growth vision, driven by smelter expansions across existing locations. While these expansions are unlikely to materialize in FY27, strong execution momentum could bode well for the stock. Dividend distributions from Hindustan Zinc remain equally crucial, given Vedanta’s majority stake in the company.

#5 Indo Borax

Established in 1980, Indo Borax manufactures boron-based chemicals such as boric acid, borax, DOT, lithium hydroxide monohydrate, and related derivatives.

Its offerings serve sectors spanning steel, refractories, glass, ceramics, pharmaceuticals, personal care, and agriculture, with boric acid serving as a key component in steel industry ramming mass and furnace linings.

The company's core manufacturing hub at Pithampur, Madhya Pradesh, has a rated capacity of 20,000 MT for boric acid and 6,000 MT for DOT.

For FY26, Indo Borax distributed ₹40 per share to shareholders—consisting of a ₹10 final dividend and a ₹30 special payout—against a record date of 21 July 2026.

The ₹130 crore dividend payout represented 2.6 times the company’s FY26 profit and roughly 61% of its ₹210 crore investment portfolio as of March 2026.

Ownership has also shifted recently: a consortium led by Zenrock Chemicals acquired a 50.80% stake in the company under an agreement signed on 15 December 2025. Subsequently, on 20 August 2026, Indo Borax agreed to acquire 64.26% of Kronox Lab Sciences for ₹250 crore. It also launched an open offer to acquire up to an additional 25.79% of Kronox at ₹157.27 per share, representing an outlay of up to ₹1,510 crore in cash.

Looking ahead, Indo Borax plans a capital expenditure of around ₹90 crore ( ₹900 million) across FY27 and FY28, funded entirely through internal accruals. Of this total, approximately ₹20 crore ( ₹200 million) is earmarked for setting up 4,000 MT of boron oxide capacity, with the remaining ₹70 crore ( ₹700 million) dedicated to adding 10,000 MT of boric acid capacity.

Commercial operations at the new facilities are expected to begin in FY29. Consequently, meaningful growth beyond current debottlenecking efforts will hinge on the timely execution and ramp-up of these proposed capacities, alongside market development for boric acid and its downstream products.

Conclusion

Investing in high-yield dividend stocks might seem like a no-brainer, but it comes with several critical caveats.

First, dividend yield is a backward-looking metric. Special dividends are rarely repeated. Second, major corporate actions—such as bonuses or demergers, as seen with SBI Funds and Vedanta—alter the overall share count after a dividend has been paid out. Finally, a payout ratio exceeding 100% of earnings is funded out of reserves and savings, making it unsustainable over the long run.

As always, investors should thoroughly evaluate business quality, financial strength, management execution, corporate governance, and valuation before drawing any investment conclusions.

Happy investing!

This article is syndicated from Equitymaster.com