New Delhi, Aug. 27 -- Public sector undertakings (PSUs) have long been favoured for their consistent and attractive dividend payouts, offering investors a stable source of income. In recent years, many of these companies have gone beyond just being reliable dividend plays - they've also emerged as strong wealth creators, providing twin benefits to investors.

The BSE PSU index has surged nearly 250% in the last five years, driven by a rally in its constituents on the back of better execution, improving financials and government reforms.

The dividend payouts by these PSU stocks sometimes have a yield higher than that offered by several government schemes and bank fixed deposits (FDs).

What's better? Most of these stocks are priced below ...