The Financial Express
REC and Sanofi India shares were among the top dividend paying midcap scrips in the last 12 months, with yields of 8%, 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. The lowest dividend-yielding firms on this list were ICICI Securities, Indian Railway Finance Corporation, NHPC and Indraprastha Gas, with yields of 4%.
Six out of the 15 companies listed belong to the financial sector, and only one company from the information technology sector, one in utilities, and one in metals and mining sector. REC and Canara have the highest dividend yield among companies in the financial sector at 8% and 6% respectively.
Indian Railway Finance Corporation (IRFC) and NHPC have reported lower dividends in the past 12 months, with payouts of Rs 1.9 and Rs 1.43 respectively, resulting in a 4% yield each. Oracle Financial Services Software gave investors a 6% dividend yield. Oracle’s dividend payout of Rs 225 in the last year surpasses many large-cap companies. With the largest market capitalization of Rs 54,714 crore, Canara Bank paid out only a 6% dividend.
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