T.V. Today Network and Bhansali Engineering Polymers were the highest dividend yielding small-cap shares over the past twelve months, according to an Axis Securities report.
T.V. Today Network was the highest dividend yielding small-cap scrip in the 12 months, with a whooping yield of 35%, according to a list of highest dividend-yielding smallcap shares compiled by Axis Securities. Another stock on the list – Polyplex Corporation – paid the highest dividend at Rs 106 per share, with a dividend yield of 8%. Even the lowest dividend-yielding firms on the list – D B Corp, Nirlon, Bank of Maharashtra, and CESC – had yields of 6% during the same time period. This is double that of the large cap stocks at the bottom of a similar list.
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Here’s a look at the highest dividend payouts and dividend-yielding small-caps:
| Company Name | CMP | Dividend (past 12 months) | Dividend Yield |
| T.V. Today Network | Rs 197 | Rs 70 | 35% |
| Bhansali Engineering Polymers | Rs 130 | Rs 18 | 14% |
| RSWM | Rs 208 | Rs 25 | 12% |
| Forbes & Company | Rs 594 | Rs 65 | 11% |
| IDFC | Rs 106 | Rs 11 | 10% |
| Banco Products (India) | Rs 302 | Rs 28 | 9% |
| Goodyear India | Rs 1,193 | Rs 100 | 8% |
| Polyplex Corporation | Rs 1,288 | Rs 106 | 8% |
| PNB Gilts | Rs 62 | Rs 5 | 8% |
| Balmer Lawrie Investment | Rs 407 | Rs 30 | 7% |
| Geojit Financial Services | Rs 45 | Rs 3 | 7% |
| D B Corp | Rs 139 | Rs 9 | 6% |
| Nirlon | Rs 404 | Rs 26 | 6% |
| Bank of Maharashtra | Rs 28 | Rs 1.8 | 6% |
| CESC | Rs 72 | Rs 4.5 | 6% |
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Five out of the 15 companies listed belong to the financial sector, and one firm belongs to utilities and oil & gas sectors each. Despite having the lowest market capitalisation on the list, at Rs 766 crore, Forbes & Company gave its shareholders a yield of 11%. Bank of Maharashtra has the highest market capitalisation at Rs 19,934 crore and paid out the lowest dividend-yield on the table.
Bank of Maharashtra, Geojit Financial Services and CESC have paid the lowest dividends in the past 12 months, at Rs 1.8, Rs 3 and Rs 4.5 respectively, with yields varying between 6-7%. The other company that paid a three digit dividend was Goodyear India, giving investors Rs 100 over the past 12 months.
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Despite being small-cap companies, some firms’ dividends and dividend yields often beat those of large-caps, mid-caps and PSUs.
