Dividend yielding shares: REC and Sanofi India shares were among the top dividend paying midcap scrips in the last financial year, with yields of 10% and 9% each in 2022-23, according to a list of highest dividend-yielding midcap shares compiled by Axis Securities. Sanofi India also paid out the highest dividend to its shareholders at Rs 570 per equity share, despite having the lowest market capitalisation on the list of top 15 such stocks. The lowest dividend-yielding firms on this list were Torrent Power, Indian Railway Finance Corporation, NHPC and Indraprastha Gas, with yields of 4%.
Here’s a look at the highest dividend payouts and dividend-yielding mid-caps:
| Company Name | CMP | Dividend (last financial year) |
Dividend Yield |
|---|---|---|---|
| REC | Rs 134 | Rs 13.05 | 10% |
| Sanofi India | Rs 6,355 | Rs 570 | 9% |
| Oil India | Rs 259 | Rs 19.5 | 8% |
| Glaxosmithkline Pharmaceuticals | Rs 1,277 | Rs 90 | 7% |
| Oracle Financial Services Software | Rs 3,528 | Rs 225 | 6% |
| National Aluminium Company | Rs 82 | Rs 5 | 6% |
| Power Finance Corporation | Rs 167 | Rs 10 | 6% |
| Hindustan Petroleum | Rs 264 | Rs 14 | 5% |
| Petronet LNG | Rs 230 | Rs 11.5 | 5% |
| Nippon Life India Asset Management | Rs 237 | Rs 11.5 | 5% |
| ICICI Securities | Rs 495 | Rs 22.5 | 5% |
| NHPC | Rs 44 | Rs 1.9 | 4% |
| Indian Railway Finance Corporation | Rs 34 | Rs 1.43 | 4% |
| Torrent Power | Rs 534 | Rs 22 | 4% |
| Indraprastha Gas | Rs 494 | Rs 18.5 | 4% |
Five out of the fifteen companies listed belong to the financial sector, whereas the list comprises solely one IT firm and one company in the metals and mining sector. REC and Power Finance Corporation have the highest dividend yield among companies in the financial sector at 10% and 6% respectively.
Indian Railway Finance Corporation and NHPC have paid out the lowest dividends in the past 12 months, at Rs 1.9 and Rs 1.43 respectively, with a 4% yield each. Despite having the second largest market capitalisation at Rs 3,528 crore, Oracle Financial Services Software has a dividend yield of 6%. However, the dividends paid out to shareholders over the last 12 months are Rs 225, which is the second highest on this list and beats a number of large-cap companies’ dividend payouts.
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