Dividend-paying stocks are gaining attention, especially among those looking for steady returns and secure growth over the long term.
In this article, we will take a detailed look at the top dividend-paying stocks in the BSE Midcap Index.
1. HPCL (Hindustan Petroleum Corporation Limited)
- Market Cap: ₹ 85,007 Cr.
- Trading Price: ₹400 (December 20, 2024)
- Dividend Yield: 5.2%
HPCL tops the list of highest dividend-paying stocks in the BSE Midcap Index. The company provided an impressive dividend yield of 9.7% in FY21.
HPCL Dividend History (2020-24)
| Year | Dividend per Share (₹) | Dividend Yield (%) |
| 2020 | 6.9 | 5.1 |
| 2021 | 15.5 | 9.7 |
| 2022 | 9.3 | 5.2 |
| 2023 | 0 | 0 |
| 2024 | 21 | 6.6 |
Company Profile: HPCL is a Maharatna company leading in refining and marketing petroleum products. It is one of India’s top three Oil Marketing Companies (OMCs) with a 24% market share in domestic petroleum marketing.
Growth Plans:
- Visakhapatnam Refinery Expansion: To enhance refining capacity and improve energy efficiency.
- LNG Regasification Terminal: For storage and regasification.
- 2G Ethanol Plant (Bathinda): A significant step towards renewable energy.
2. Castrol India
- Market Cap: ₹ 19,846 Cr.
- Trading Price: ₹199 (December 20, 2024)
- Dividend Yield: 4%
Castrol India has proven its reliability by consistently paying dividends over the past 5 years.
Castrol India Dividend History (2020-24)
| Year | Dividend per Share (₹) | Dividend Yield (%) |
| 2020 | 5.5 | 4.3 |
| 2021 | 5.5 | 4.5 |
| 2022 | 6.5 | 5.3 |
| 2023 | 7.5 | 4.2 |
Company Profile: Castrol India, a major subsidiary of BP (British Petroleum), has been active in India’s lubricant industry since 1910.
Focus Areas: Given the declining sales of ICE (Internal Combustion Engine) vehicles, the company plans to expand into the data center industry. For this, they have set up a state-of-the-art R&D center in the UK.
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3. ICICI Securities
- Market Cap: ₹ 27,034 Cr.
- Trading Price: ₹833 (December 20, 2024)
- Dividend Yield: 3.5%
ICICI Securities, a subsidiary of ICICI Bank, is active in broking and merchant banking services.
Dividend History: ICICI Securities has provided an average dividend yield of 4.5% between FY20-24.
| Year | Dividend per Share (₹) | Dividend Yield (%) |
| 2020 | 11.00 | 4.0 |
| 2021 | 21.50 | 5.6 |
| 2022 | 24.00 | 3.9 |
| 2023 | 19.00 | 4.4 |
| 2024 | 29.00 | 4.0 |
Future Plans: The company plans to invest in technology upgrades to enhance user experience and operational efficiency.
4. NMDC (National Mineral Development Corporation)
- Market Cap: ₹ 62,466 Cr.
- Trading Price: ₹212 (December 20, 2024)
- Dividend Yield: 3.4%
NMDC, India’s largest iron ore manufacturer, is also active in renewable energy.
NMDC Dividend History (2020-24)
| Year | Dividend per Share (₹) | Dividend Yield (%) |
| 2020 | 5.5 | 6.6 |
| 2021 | 7.8 | 5.7 |
| 2022 | 14.7 | 9.1 |
| 2023 | 6.6 | 5.9 |
| 2024 | 7.3 | 3.6 |
Growth Plans:
- Aiming for 100 million tons of production in the next 5-6 years.
- Investing ₹500 billion.
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5. Petronet LNG
- Market Cap: ₹ 50,468 Cr.
- Trading Price: ₹336 (December 20, 2024)
- Dividend Yield: 2.9%
Petronet LNG is a leading company catering to India’s LNG (Liquefied Natural Gas) needs.
Petronet LNG Dividend History (2020-24)
| Year | Dividend per Share (₹) | Dividend Yield (%) |
| 2020 | 12.5 | 6.3 |
| 2021 | 11.5 | 5.1 |
| 2022 | 11.5 | 5.9 |
| 2023 | 10 | 4.4 |
| 2024 | 10 | 3.8 |
Future Plans:
- Investing ₹400 billion.
- Planning to set up an LNG import facility in Gopalpur, Odisha.
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Conclusion:
The dividend-paying stocks in the BSE Midcap Index can be an excellent option for stable income and growth. Stocks like HPCL, Castrol India, ICICI Securities, NMDC, and Petronet LNG not only offer dividends but also provide long-term value to investors. However, it’s crucial to assess the company’s fundamentals, market conditions, and corporate governance before investing.