Annual dividend per share divided by share price — the cash-return percentage a stock pays out, independent of price appreciation.
Dividend yield expresses how much cash income a stock generates relative to its price, similar to a bond's coupon rate. A stock priced at ₹1,000 paying ₹20 in annual dividends has a 2% yield. High yields can signal a generous, mature, cash-generative business — or can be a warning sign if the price has fallen sharply and the market doubts the dividend is sustainable.