Highest dividend-yield stocks on PSX (KSE-100)
The 15 highest trailing dividend yields among KSE-100 members as of 6 Sep 2026, with P/E and market cap, and a candid look at why a screener yield can mislead.
As of 6 Sep 2026, the highest trailing dividend yield among KSE-100 companies is Lotte Chemical (LOTCHEM) at 23.16%, followed by National Bank (NBP) at 18.13%, Kot Addu Power (KAPCO) at 15.39%, Bank Alfalah (BAFL) at 15.00% and Pakistan Oilfields (POL) at 14.54%. Trailing yield is the dividends paid over the last twelve months divided by the current price. It is a fact about the past, not a forecast, and the table below is followed by the reasons a high figure often means something other than “this stock pays a lot”: a one-off payout, a falling share price, or a payout the company’s earnings do not cover.
The top 15 by trailing yield
Method: Equivest’s index feed lists 104 KSE-100 tickers on 6 Sep 2026, which is the 100 constituents plus four temporary ex-dividend tickers (AGPXD, GLAXOXD, RMPLXD, SCBPLXD) that PSX creates around book closure. Fundamentals were fetched for all 104. Five constituents (ABL, BAHL, BWCL, FABL, MEBL) returned no yield figure and are excluded, as are the XD tickers. Valuation fields (yield, P/E, market cap) were last refreshed on 1 September; prices are the latest close as of 6 September.
| # | Symbol | Company | Sector | Yield | P/E | Market cap (Rs bn) | Price (Rs) |
|---|---|---|---|---|---|---|---|
| 1 | LOTCHEM | Lotte Chemical Pakistan | Chemical | 23.16% | 8.90 | 41.7 | 26.71 |
| 2 | NBP | National Bank of Pakistan | Commercial banks | 18.13% | 5.28 | 394.8 | 186.77 |
| 3 | KAPCO | Kot Addu Power | Power | 15.39% | 14.64 | 24.1 | 27.00 |
| 4 | BAFL | Bank Alfalah | Commercial banks | 15.00% | n/a | 181.0 | 56.24 |
| 5 | POL | Pakistan Oilfields | Oil and gas exploration | 14.54% | 6.49 | 207.2 | 730.21 |
| 6 | APL | Attock Petroleum | Oil and gas marketing | 11.15% | 4.32 | 73.3 | 584.99 |
| 7 | HMB | Habib Metropolitan Bank | Commercial banks | 10.34% | 5.19 | 105.0 | 100.73 |
| 8 | INDU | Indus Motor | Automobile assembler | 9.47% | 5.95 | 151.7 | 1,898.91 |
| 9 | SCBPL | Standard Chartered Bank (Pakistan) | Commercial banks | 9.16% | 12.08 | 262.0 | 67.34 |
| 10 | NATF | National Foods | Food and personal care | 8.99% | 15.68 | 86.7 | 370.96 |
| 11 | MCB | MCB Bank | Commercial banks | 8.88% | 8.89 | 474.2 | 399.58 |
| 12 | BOP | The Bank of Punjab | Commercial banks | 8.83% | 6.04 | 112.6 | 34.88 |
| 13 | GHGL | Ghani Glass | Glass and ceramics | 8.76% | 5.74 | 41.5 | 41.71 |
| 14 | HUBC | Hub Power | Power | 8.57% | 11.11 | 271.7 | 207.44 |
| 15 | HBL | Habib Bank | Commercial banks | 7.87% | 7.17 | 463.1 | 313.68 |
BAFL’s P/E came through as zero in the feed, which is a missing value rather than a real number, and is shown as n/a. Just outside the fifteen: Arif Habib Corporation (AHCL) 7.84%, Fauji Fertilizer (FFC) 7.28%, United Bank (UBL) 7.15%, Nestle Pakistan 7.14% and Millat Tractors (MTL) 7.03%.
Seven of the fifteen are commercial banks. That is the first thing to notice: a portfolio built by sorting on yield would be half a bank index, whatever its owner intended.
Reading yield against earnings
Yield on its own says nothing about whether the payout can continue. Multiplying trailing yield by trailing P/E gives a rough payout ratio, the share of earnings that went out as dividends, because (dividend / price) times (price / earnings) equals dividend / earnings. The two trailing windows do not always line up exactly, so treat the result as approximate.
| Symbol | Yield | P/E | Implied payout |
|---|---|---|---|
| LOTCHEM | 23.16% | 8.90 | about 206% |
| KAPCO | 15.39% | 14.64 | about 225% |
| NATF | 8.99% | 15.68 | about 141% |
| SCBPL | 9.16% | 12.08 | about 111% |
| NBP | 18.13% | 5.28 | about 96% |
| HUBC | 8.57% | 11.11 | about 95% |
| POL | 14.54% | 6.49 | about 94% |
| MCB | 8.88% | 8.89 | about 79% |
| INDU | 9.47% | 5.95 | about 56% |
| HBL | 7.87% | 7.17 | about 56% |
| HMB | 10.34% | 5.19 | about 54% |
| BOP | 8.83% | 6.04 | about 53% |
| GHGL | 8.76% | 5.74 | about 50% |
| APL | 11.15% | 4.32 | about 48% |
Four names paid out more than they earned over the trailing period. By arithmetic, that cannot continue indefinitely; it is funded from cash reserves, asset sales, or a one-off gain, and the yield figure will fall either because the dividend falls or because the market has already priced that in. The ones around 95% are paying out nearly everything, which leaves no cushion if earnings dip. The ones at half or below have room, which is a different statement from saying they will use it.
The figures are not a verdict on any company; a firm winding down a business, or returning the proceeds of a sale, can legitimately pay out more than a year’s earnings. They are a reason to open the annual report before treating the yield as an income stream.
Why screener yields go stale
A trailing yield is a fraction, and both halves of it move.
The numerator is last year’s dividends. If a company paid a special dividend, or an unusually large final, that amount sits in the trailing figure for twelve months and then vanishes. The yield looked permanent; it was one cheque. The dividend mechanics post explains how the percent-of-face-value announcements translate into rupees, which is where you check whether last year’s payments were ordinary or exceptional.
The denominator is today’s price. When a share falls, its trailing yield rises with no change in the dividend. KAPCO’s price is down 23.48% over the past year on Equivest’s data; part of its 15.39% yield is that decline. Indus Motor is down 13.03% over the same period. A high yield created by a falling price is the market saying it expects a smaller dividend, and the screener has not caught up.
Feed timing matters too. The valuation fields in this table are dated 1 September while prices are from 6 September, so each yield is slightly off from a same-day calculation. Other screeners refresh less often, and some use last year’s dividend against last week’s price. When two sites show different yields for the same stock, this is usually why.
Finally, a trailing figure includes nothing that has been announced but not yet paid. POL’s 725% final dividend (Rs 72.50 a share) has an ex-date of 12 October; whether it makes next year’s trailing figure higher or merely replaces last year’s final is exactly the sort of thing the number does not tell you.
Yield is one component of return
PSX’s dividend index, the PSXDIV20, returned 26.50% in the year to 6 Sep 2026 against 13.29% for the KSE-100. That is a total-return figure, price plus dividends, and it is the fair comparison for an income-focused portfolio. The benchmark guide covers why matching the index to the strategy matters. A stock yielding 15% whose price falls 20% has returned minus 5%; a stock yielding 5% whose price rises 20% has returned 25%. The high-yield table is a starting list for reading, not a ranking of outcomes.
How Equivest helps
Equivest’s dividend screen shows the same fundamentals for every PSX company, with yield, P/E, market cap and the date each field was refreshed, so a stale figure is visible as stale. Next to the trailing yield it lists the announced-but-unpaid dividends from the corporate-actions calendar with their ex-dates, which is the check for “was that one cheque or a pattern”. For holdings you track on the tracker, the calendar filters to your positions and converts each percent-of-face announcement into rupees you are due.
This is education, not investment advice.