Introduction
When it comes to dividend investing, the goal isn’t just finding the highest yield — it’s finding companies that have stood the test of time.
A stock that has paid dividends consistently for 10+ years reflects stable earnings, strong governance, and a shareholder-friendly culture.
In this guide, we bring you 12 verified Indian companies that have rewarded investors with uninterrupted dividends for over a decade. This list is based on publicly available corporate records, ensuring every company here meets the “consistent payer” standard.
Why Consistency Matters in Dividend Investing
High yields can be tempting, but they can also be misleading. A yield spike may happen because a stock’s price has fallen sharply, not because the company is thriving.
Consistent dividend payers offer something more valuable:
- Steady cash flow year after year
- Lower volatility in payouts
- Confidence in management and financial health
- Better compounding through dividend reinvestment
Selection Criteria
To make this list, companies had to meet all of these requirements:
- Paid at least one dividend every year for the last 10 financial years
- Have a proven track record of profitability and cash generation
- Operate in sectors with stable or predictable demand
- Maintain a payout policy aligned with long-term growth
Top 12 Consistent Dividend Paying Stocks
| Company | Sector | Years of Continuous Dividend | Average Dividend Yield* | Why It’s Consistent |
| ITC Ltd | FMCG | 10+ | ~3.46% | Diversified revenue, strong brand portfolio, steady cash flows |
| TCS | IT Services | 10+ | ~1.98% | Global client base, high ROE, predictable earnings |
| Infosys | IT Services | 10+ | ~3.02% | Asset-light model, disciplined semi-annual payouts |
| HCL Technologies | IT Services | 10+ | ~2.5–3% | Frequent interim dividends, robust services revenue |
| Hindustan Unilever | FMCG | 10+ | ~1.72% | Defensive sector leader, consistent multi-installment payouts |
| Nestlé India | FMCG | 10+ | ~2.21% | Premium brands, strong pricing power |
| Power Grid Corp. | Power Transmission | 10+ | ~3.16% | Regulated returns model, predictable cash generation |
| NTPC | Power Generation | 10+ | ~2.49% | PSU stability, long-term capacity visibility |
| Coal India | Mining | 10+ | ~6.98% | High cash generation, regular interim/final payouts |
| GAIL (India) | Oil & Gas | 10+ | ~4.38% | Integrated gas business, steady cash flows |
| Asian Paints | Paints | 10+ | ~1.0–1.1% | Market dominance, consistent profits |
| Power Grid InvIT | Infrastructure Trust | 4+ (since listing) | ~3.3% | Cash flow-linked distributions from transmission assets |
*Yields are approximate as of August 2025 and change with stock price.
Company Overviews
1. ITC Ltd
ITC has maintained uninterrupted dividend payments for decades, supported by its strong FMCG brands, hotel business, and agri-trading. Its diversified cash flow makes it a favorite among long-term income investors.
2. TCS
With one of the highest ROEs in the IT sector, TCS has a clear semi-annual dividend policy. Its client retention and stable margins ensure payouts continue year after year.
3. Infosys
Infosys pairs its growth story with consistent dividends, often declaring specials alongside regular payouts. Its asset-light operations keep cash flows predictable.
4. HCL Technologies
Known for frequent interim dividends, HCL Tech has a solid global services business. Management prioritizes steady shareholder returns.
5. Hindustan Unilever
This FMCG giant is known for paying dividends multiple times a year. Its market leadership in consumer goods ensures stable earnings.
6. Nestlé India
Operating premium food brands, Nestlé enjoys strong pricing power. Its long-standing dividend history reflects stable consumer demand.
7. Power Grid Corporation
As a regulated utility, Power Grid enjoys a predictable revenue stream. It consistently distributes healthy dividends from its operations.
8. NTPC
This PSU power generator boasts a robust capacity pipeline and a history of rewarding investors annually, even during economic downturns.
9. Coal India
Among the highest-yielding stocks in India, Coal India’s cash flows support regular interim and final payouts. Government ownership further pushes consistent distributions.
10. GAIL (India)
With a strong presence in natural gas transmission and marketing, GAIL has maintained dividends for over a decade, supported by steady demand.
11. Asian Paints
A household name in paints, Asian Paints strikes a balance between growth and consistent payouts, supported by high profit margins and market dominance.
12. Power Grid InvIT
Although newer than others, this InvIT has quickly established a reputation for predictable cash distributions directly linked to transmission revenues.
Key Takeaways for Investors
- Focus on payout culture over one-time high yields.
- Use reliable data sources, such as corporate filings, for verification.
- Diversify across sectors for income stability.
- A review is conducted periodically to ensure sustainability.
Final Thoughts
The 12 companies listed provided consistent dividends, showing that consistency is just as important as yield in dividend investing. Each has consistently demonstrated its ability to return cash to shareholders year after year, regardless of market fluctuations. For investors seeking to build a long-term income portfolio, these stocks can provide a strong foundation.
Aditya Gaur is the founder of FinanceXaditya and a seasoned stock market investor with over 7 years of experience. Known for building India’s first public dividend growth portfolio showcase, he shares time-tested strategies and real insights that help everyday investors create wealth. With 50,000+ followers across social media, Aditya has become a trusted voice in personal finance and long-term investing.
