PSU dividends 2026: SBI, Coal India payouts and dates

Dividend season returns to PSU stocks

Several Public Sector Undertakings (PSUs) have announced dividends alongside their financial results for the quarter and year ended March 31, 2026, according to recent stock exchange filings. The latest set of declarations spans PSU banks, energy companies, capital goods, and defence shipbuilding. Names cited in the filings include State Bank of India (SBI), Indian Bank, Coal India, Chennai Petroleum Corporation, Bharat Heavy Electricals (BHEL), and Mazagon Dock Shipbuilders.

These announcements matter for investors tracking dividend-led total returns in PSU counters, especially as many of these companies have a track record of paying interim and final dividends during the year. The updates also highlight how dividend decisions are being disclosed in parallel with Q4 and full-year earnings, making key dates such as record dates and AGM timelines important. Shareholders should note that, as stated in the filings, dividends typically require approval at the respective annual general meetings (AGMs) before credit.

SBI dividend: board decision and key dates

SBI, the nation’s largest PSU lender, announced a dividend of ₹17.35 per share for FY26 on a face value of Re 1 each. The bank’s board declared the dividend at its meeting on May 8, 2026. The record date to determine dividend eligibility is set for May 16, 2026.

If shareholders approve the proposal, SBI has fixed June 4, 2026 as the payment date. For investors, these dates define the eligibility window and the expected timing of cash flows, subject to AGM approval. SBI’s disclosure also reinforces a familiar pattern in PSU banking counters where final dividends are typically linked to year-end board meetings and post-results corporate action calendars.

Indian Bank: dividend and equity capital raising plan

Indian Bank’s board approved a dividend of ₹18.25 per share at its meeting on April 29, 2026. In the same stock exchange filing, the bank also disclosed plans to raise equity capital up to ₹5,000 crore through various modes. A separate disclosure in the provided material also states that Indian Bank’s record date for the dividend is June 10, 2026.

The combination of a dividend decision and an equity-raising plan is closely watched in bank stocks because both affect shareholder outcomes in different ways. Dividend provides direct cash return, while capital raising can influence future growth and capital adequacy but may also have dilution implications, depending on the route and pricing. The filing, however, only states the intent and the size cap for fundraising, without detailing the final structure.

Chennai Petroleum: 540% final dividend plus interim payout

Chennai Petroleum Corporation recommended a final equity dividend of 540%, which equals ₹54 per share on a face value of ₹10 each. This final payout is stated to be over and above an interim dividend of ₹8 per share already declared during the financial year.

The dataset also summarises Chennai Petroleum’s FY26 dividend as ₹62 per share, aligning with the ₹54 final plus ₹8 interim combination mentioned. While the material does not specify record dates or payment dates for Chennai Petroleum, the scale of the final dividend is notable because the percentage figure is tied directly to the face value.

Coal India and BHEL: final dividend recommendations

Coal India announced a final dividend of ₹5.25 per equity share on a face value of ₹10. In a separate summary of FY26 payouts, Coal India is also described as having paid a total dividend of ₹26.5 per share in FY26. Another line in the provided text adds that the ₹5.25 final dividend takes FY26 total dividend to ₹26.75 per share, indicating a slight difference across the stated totals within the supplied material.

BHEL’s board recommended a final dividend of ₹1.40 per share on a par value of ₹2 each. BHEL’s exchange filing also said the payment would be dispatched within 30 days from the date of the upcoming AGM. This is a timeline-style disclosure, rather than a fixed payment date, and it places the dividend schedule firmly after shareholder approval.

Mazagon Dock: final dividend and Q4FY26 performance snapshot

Mazagon Dock Shipbuilders informed about its dividend following a board meeting on April 30, 2026. The company recommended a final dividend of ₹4.62 per share with a face value of ₹5 each for FY26. The material also states that shareholder approval will be required at the upcoming AGM for the proposal to be implemented.

Alongside the dividend, Mazagon Dock’s Q4FY26 numbers in the provided text show consolidated net profit rising 109% year-on-year to ₹679 crore on revenue of ₹3,850 crore, up 21% year-on-year. It also reports FY26 revenue of ₹13,008 crore, up 13.8% year-on-year. The same dataset references EBITDA of ₹543 crore in the March quarter, up 355% year-on-year, with an EBITDA margin of 14.1% versus 3.8% a year earlier.

Market data points included in the material for Mazagon Dock show the stock closing at ₹2,733.25 on BSE on April 30, down ₹38.25 (1.38%). Screens in the same text also mention valuation and trading metrics such as P/E ratios around 39.94 to 42.00 and P/B ratios around 11.10 to 14.07 (as cited), plus dividend yield readings around 0.50% to 0.63% depending on the snapshot. Another seasonal statistic stated is that 4 out of 6 years Mazagon Dock Shipbuilders has given positive returns in May.

Summary table: key dividend actions and timelines

Sector view: yields, YTD returns, and government dividend receipts

A broader list in the material covers 11 prominent PSU stocks that announced final dividends in Q4FY26, along with FY26 dividend totals, dividend yield, and year-to-date (YTD) returns. It also states that many of these PSUs have delivered double-digit stock returns so far in 2026 and carried dividend yields between 3% and 5% in several cases.

Separately, the dataset notes that the Ministry of Finance collected ₹78,438 crore in dividends from Central Public Sector Enterprises (CPSEs) in FY26. This figure is relevant because it provides context on the scale of government receipts from PSU dividend distributions, especially when multiple companies announce payouts around the same results season.

Earnings context: profits, revenues, and payout capacity

The material links dividend announcements with earnings strength for several PSUs. Coal India is reported to have delivered Q4FY26 consolidated net profit of ₹10,839 crore, up 11% year-on-year, on revenue of ₹46,490 crore, up 5.8% year-on-year. Mazagon Dock’s March quarter profit and revenue growth figures are also cited as strong, alongside a sharp rise in EBITDA and margin.

The dataset includes additional earnings references across the list. REC Ltd reported Q4FY26 net profit of ₹3,375 crore (down 21% year-on-year) and revenue from operations of ₹14,564 crore (down 5.0% year-on-year), while full-year FY26 net profit was ₹16,308 crore (up 2.6% year-on-year). National Aluminium’s standalone revenue is stated to have fallen 5% year-on-year to ₹5,013 crore, while net profit dipped 17% year-on-year to ₹1,718 crore, yet it still announced a ₹2 per share dividend for the quarter.

What investors should track next

Across these PSU dividend announcements, the immediate next step is shareholder approval at AGMs before credit. For SBI, the timeline is clearly stated with record date and a fixed payment date, subject to approval. For BHEL, the timeline is framed as dispatch within 30 days after the AGM, which makes the AGM date a practical anchor for investors.

For stocks where the dataset includes dividend yield and YTD return, investors often compare payout size with price performance, but the provided material itself does not specify a single market-wide conclusion. What it does show is that multiple PSUs are combining dividend distributions with results updates, keeping corporate action calendars active through May and June 2026.

Conclusion

PSU dividend announcements in Q4FY26 have again put banks, energy companies, capital goods, and defence shipbuilders in focus, with SBI, Indian Bank, Coal India, Chennai Petroleum, BHEL, and Mazagon Dock among the names cited. The filings emphasise record dates, AGM approval requirements, and payment or dispatch schedules as the key operational checkpoints. The next confirmed milestones for investors are the respective AGMs and, where disclosed, record dates such as May 16 for SBI and June 10 for Indian Bank, followed by payment actions once approvals are in place.