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 NameCMPDividend (last financial year)Dividend YieldRECRs 134Rs 13.0510%Sanofi IndiaRs 6,355Rs 5709%Oil IndiaRs 259Rs 19.58%Glaxosmithkline PharmaceuticalsRs 1,277Rs 907%Oracle Financial Services SoftwareRs 3,528Rs 2256%National Aluminium CompanyRs 82Rs 56%Power Finance CorporationRs 167Rs 106%Hindustan PetroleumRs 264Rs 145%Petronet LNGRs 230Rs 11.55%Nippon Life India Asset ManagementRs 237Rs 11.55%ICICI SecuritiesRs 495Rs 22.55%NHPCRs 44Rs 1.94%Indian Railway Finance CorporationRs 34Rs 1.434%Torrent PowerRs 534Rs 224%Indraprastha GasRs 494Rs 18.54%Highest dividend-yielding mid-caps
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.