Top 10 Dividend-Paying Stocks in Pakistan

Dividend investing has become increasingly popular on the PSX, with income-focused investors typically holding these stocks far longer than active traders. Here are ten companies widely regarded as Pakistan's most consistent and attractive dividend payers this year.

1. Fauji Fertilizer Company Limited (FFC)

FFC is Pakistan's largest urea producer, holding over 40% of industry production along with the country's entire domestic DAP capacity. Beyond fertilizer, the company earns steady additional income through investments in banking and power, including dividends from Askari Bank and Thar Energy.

Management estimates a total dividend of PKR 44.0 to PKR 47.15 per share for 2026, reflecting strong confidence in the company's cash generation. FFC also leads a consortium bidding for a majority stake in Pakistan International Airlines, adding a new growth dimension alongside its dividend reliability.

2. Mari Energies Limited (MARI)

Recently rebranded from Mari Petroleum, MARI operates Pakistan's largest gas reservoir while expanding into data centres, mining, and offshore exploration. The company maintains the sector's highest Reserve Replacement Ratio at 278%, with total reserves reaching a record 952 MMBOE.

MARI's dividend per share is projected between PKR 20.0 and PKR 22.2 for 2026, translating to a yield of roughly 2.9% to 3.2%, with a payout ratio around 40%. Its diversification into Tier III data centres through subsidiary Sky47 is expected to eventually contribute 8-10% of overall earnings.

3. Oil & Gas Development Company Limited (OGDC)

OGDC is Pakistan's largest exploration and production company, with the Government of Pakistan holding over 85% ownership. It contributes roughly 49% of national oil production and 28% of gas production, backed by a reserve replacement ratio of 153%.

OGDC is expected to pay dividends of PKR 13.5 to PKR 16.3 per share in FY26, with an anticipated yield of 5.5% to 6.0%. Liquidity could improve further if the pending gas circular debt resolution is implemented, unlocking significant additional cash reserves.

4. The Hub Power Company Limited (HUBC)

HUBC generates steady income through CPEC-linked power plants, with its Thar coal facilities maintaining strong load factors while saving significant foreign exchange through local coal usage. The company posted EPS of PKR 8.2 with net earnings of PKR 10.6 billion in a recent quarter.

HUBC's dividend outlook remains strong, with expected DPS of PKR 17.0 for both FY26 and FY27. The company is also diversifying into electric vehicle assembly and EV charging infrastructure, adding new growth avenues alongside its dependable power-sector cash flows.

5. Pakistan Oilfields Limited (POL)

POL stands out for its exceptionally high payout ratio, projected around 90% for FY26, backed by strong liquidity of approximately PKR 112 billion in cash and financial assets. Over half its revenue comes from crude oil, reducing exposure to gas-sector circular debt issues.

Dividend per share is expected between PKR 68.0 and 74.9, translating to an estimated yield of around 12%, one of the highest among PSX blue-chips. New wells at Makori Deep and Razgir are helping offset natural production decline at mature fields.

6. Pakistan Petroleum Limited (PPL)

PPL remains one of Pakistan's oldest and most established exploration and production companies, contributing over 20% of the nation's total natural gas supply. Its diversified output includes crude oil, natural gas liquids, and LPG.

The company has a long history of consistent shareholder payouts, supported by steady production and recent commissioning of previously delayed wells. New offshore exploration licenses secured in 2026 add further long-term earnings visibility to its dividend profile.

7. Meezan Bank Limited (MEBL)

As Pakistan's largest Islamic bank, Meezan Bank benefits from a rapidly growing retail network exceeding 1,000 branches and strong deposit growth driven by rising demand for Shariah-compliant banking. Its profitability has remained consistently robust in recent years.

Meezan has built a reputation for steady, growing dividend payouts alongside its expanding balance sheet, supported by strong asset quality and a low-cost deposit base that keeps profitability resilient even during periods of economic uncertainty.

8. MCB Bank Limited (MCB)

One of Pakistan's oldest banks, MCB was the first Pakistani bank to list global deposit receipts on the London Stock Exchange and the first to launch a dedicated Islamic banking subsidiary. It remains known for disciplined, conservative financial management.

MCB has historically maintained one of the more consistent dividend track records among Pakistani commercial banks, supported by a strong deposit franchise and stable net interest margins that continue to underpin regular shareholder distributions.

9. National Bank of Pakistan (NBP)

NBP serves as an agent to the State Bank of Pakistan for government treasury operations while also offering full commercial banking services. Recent data shows the bank carrying one of the higher dividend yields among large-cap PSX banks, reflecting renewed investor confidence.

The bank's market capitalization surged 83% in FY26, the highest growth rate among Pakistan's top ten listed companies, a rally partly attributed to strengthening profitability and its continued role in supporting government financial operations.

10. Engro Corporation Limited

Engro operates as a diversified conglomerate with interests spanning fertilizer, energy, petrochemicals, and telecommunications infrastructure through its various subsidiaries. This diversification helps smooth out earnings volatility across different economic cycles.

Engro has historically maintained a reputation for stable, shareholder-friendly dividend policies, with its fertilizer and energy subsidiaries generating consistent cash flows that support regular payouts even as the parent company continues expanding into new sectors.