Financial stability, regular cash flow and consistent returns—keeping these three factors in mind, many investors lean towards shares that offer high dividends. Many companies in India pay dividends. However, the number of companies that can maintain consistency year after year is very small. Leading this list are those companies that have almost no debt. And those that regularly pay dividends. Three such shares have been discussed in this report. Multiple brokerage firms have advised keeping an eye on shares of these companies when trading in the 2026 stock market.
Coal India
Coal India Limited is not only India's but the world's largest coal-producing company. In the 2025 financial year, the company produced more than 781 million tons of coal. More than 80 per cent of India's total coal production comes from this company.
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Since getting listed in 2010, Coal India has never failed to pay dividends even once. In the 2025 financial year, the company's dividend yield was 6.2 per cent. Since the 2020 financial year, dividend per share has consistently increased.
Coal India is also in a strong position in terms of debt. Since the 2022 financial year, the company's debt-to-equity ratio has remained below 0.1. Almost zero debt and business stability have made Coal India attractive to investors.
Castrol India
Castrol India Limited manufactures lubricants and automotive fluids for cars, motorcycles and commercial vehicles. The company's products are also used in industrial sectors.
Despite being a small-cap company, Castrol India has not missed paying dividends even once since 2000. Currently, the company's dividend yield is 4.5 per cent, which is higher compared to competitors.
The company's balance sheet has virtually no debt. In 2024, the debt-equity ratio was only 0.04. Due to regular dividends and almost zero debt, Castrol India remains in investors' focus.
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ITC
ITC Limited is one of India's largest FMCG companies. The company holds nearly 80 per cent of the organised cigarette market. ITC has more than 25 brands for daily use. This list includes multiple familiar names, including Aashirvaad, Bingo, Sunfeast, Fiama, Classmate, and Mangaldeep. ITC also plays an important role in agricultural product exports.
ITC has never failed to pay dividends even once in the last 25 years. Where the dividend per share was 10.75 rupees in the 2021 financial year, it increased to 14.35 rupees in the 2025 financial year. Despite the dividend payout ratio decreasing due to increased profits, ITC remains investors' choice for regular income.
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