7 High Dividend Paying Zero Debt Companies

Many investors prefer the consistent income that dividends provide, so they will be more likely to purchase that company's stock. Investors view a dividend payment as a reflection of a company's success and a sign that management has high expectations for future earnings, making the stock more enticing. The price of a company's stock will rise if there is more demand for it.

Companies with a lot of debt can have a hard time getting through tough times. Companies with no debt exist, and they may be garnering the attention of huge investors who scrutinize debt indicators attentively during uncertain times. Here are 7 Indian stocks that pay high dividends and have zero debt on the company.

Majesco

Majesco Ltd. was founded in 2013 and is based in the United Kingdom. The current share price is 87.4. It currently has a market capitalization of Rs 249.65 crore. The company reported gross sales of Rs. 95.1 crore and total income of Rs. 532.5 crore in the most recent quarter.

For the first time in five years, the company is debt-free. The stock returned -80.51 percent over three years, compared to 86.64 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned -80.51 percent, compared to Nifty IT, which returned 124.97 percent.

Dividend History

Since August 16, 2017, Majesco Ltd. has declared four dividends. Majesco Ltd. has issued an equity dividend of Rs 974.00 per share in the last 12 months. This equates to a dividend yield of 1122.12 percent at the current share price of Rs 86.80.

Dividend History of Elcid Investment

For the last five years, the company has had no debt. The company's yearly revenue growth rate of 38.98% surpassed its three-year CAGR of 30.93%. The company Elcid Investments Ltd. was founded in 1981. Its stock is currently trading at a price of Rs 17. It now has a market capitalization of Rs 0.34 crore. The company reported gross sales of Rs. 557.98 crores and a total income of Rs. 557.98 crores in the most recent quarter.

Dividend History of Elcid Investment

At the current share price of Rs 17.00, this equates to an 88.24% dividend yield. Since September 1, 2003, Elcid Investments Ltd. has declared 20 dividends. Elcid Investments Ltd. has declared an equity dividend of Rs 15.00 per share in the last 12 months.

Clariant Chemicals Dividend History

Clariant Chemicals (India) Ltd. began operations in 1956. Its share price presently is 608.85. It currently has a market capitalization of Rs 1406.95 crore. The company reported gross sales of Rs. 7733.4 crores and a total income of Rs. 7881.25 crores in the most recent quarter.

Dividend History

The stock returned 55.72 percent over three years, compared to 86.64 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 55.72 percent, compared to 99.43 percent for the S&P BSE Basic Materials index.

Goodyear India of Dividend History

The company has enough cash on hand to cover its contingent liabilities. For the last five years, the company has had no debt. Goodyear India Ltd., founded in 1961, is a Small Cap company in the Tyres industry with a market capitalization of Rs 2,426.71 crore.

The stock returned 16.18 percent over three years, compared to 86.64 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 16.18 percent, compared to 18.54 percent for the Nifty Auto Index.

Dividend History

Since May 30, 2007, Goodyear India Ltd. has issued 18 dividends. Goodyear India Ltd. has declared an equity dividend of Rs 178.00 per share in the last 12 months. This translates to a dividend yield of 17.14 percent at the current share price of Rs 1038.50.

Balmer Lawrie Investments Dividend History

Since the last five years, the company has had no debt. The stock returned 16.21% over the last three years, compared to 86.64 percent for the Nifty Smallcap 100. Balmer Lawrie Investments Ltd., founded in 2001, is a Small Cap business in the Holding Company category with a market capitalization of Rs 963.25 crore.

Dividend History

Since September 19, 2003, Balmer Lawrie Investments Ltd. has declared 20 dividends. Balmer Lawrie Investments Ltd. has declared an equity dividend of Rs 38.00 per share in the last 12 months. At the present share price of Rs 429.95, this equates to an 8.84 percent dividend yield.

Power Finance Corporation Dividend History

Only 3.15 percent of trading sessions in the last 14 years had intraday gains of more than 5%. The stock returned 90.09 percent over three years, compared to 70.37 percent for the Nifty 100 index. Power Finance Corporation Ltd., founded in 1986, is a Large Cap firm in the Term Lending Institutions sector with a market cap of Rs 36,974.34 crore.

Since September 7, 2007, Power Finance Corporation Ltd. has declared 27 dividends. Power Finance Corporation Ltd. has declared an equity dividend of Rs 12.25 per share in the last 12 months. At the current share price of Rs 139.55, this translates to an 8.78 percent dividend yield.

Hindustan Zinc

Only 1.88 percent of trading sessions in the last 14 years had intraday drops of more than 5%. Annual sales growth of 19.29% surpassed the company's three-year CAGR of 0.84 percent. Stock returned 15.81 percent over three years, compared to 70.37 percent for the Nifty 100 index. 100

Over a three-year period, the stock returned 15.81 percent, while the Nifty Metal returned 63.36 percent to investors.
Since June 28, 2001, Hindustan Zinc Ltd. has issued 35 dividends. Hindustan Zinc Ltd. has declared an equity dividend of Rs 21.30 per share in the last 12 months. This equates to a dividend yield of 6.74 percent at the current share price of Rs 316.15.

7 High Dividend Paying Zero Debt Companies

Company	Dividend Yield
Majesco	507.29%
Elcid Investment	88.24%
Clariant Chemicals	13.19%
Goodyear India	17.89%
Balmer Lawrie Investments	9.38%
Hindustan Zinc	6.74%
Power Finance Corporation	9.84%