Highest dividend-yield small-cap shares; these 15 shares have paid up to 33% yields to shareholders

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TV Today Network was the highest dividend yielding small-cap scrip in the last financial year, with a whooping yield of 33%, 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 7%. Even the lowest dividend-yielding firms on the list – HUDCO, Accelya Solutions India and CESC – had yields of 6% for the last financial year. This is double that of the large cap stocks at the bottom of a similar list.

Here’s a look at the highest dividend payouts and dividend-yielding small-caps:

Company Name	CMP	Dividend (FY23)	Dividend Yield
TV Today Network	Rs 209	Rs 70	33%
RSWM	Rs 178	Rs 25	14%
IDFC	Rs 90	Rs 11	12%
Forbes & Company	Rs 593	Rs 65	11%
Banco Products (India)	Rs 276	Rs 28	10%
PNB Gilts	Rs 59	Rs 5	8%
Castrol India	Rs 115	Rs 9.5	8%
Goodyear India	Rs 1,217	Rs 100	8%
Balmer Lawrie Investment	Rs 390	Rs 30	8%
Polyplex Corporation	Rs 1,416	Rs 106	7%
Geojit Financial Services	Rs 43	Rs 3	7%
Nirlon	Rs 396	Rs 26	7%
HUDCO	Rs 54	Rs 3.5	6%
CESC	Rs 71	Rs 4.5	6%
Accelya Solutions India	Rs 1,272	Rs 80	6%

Top 15 Dividend Yield Small Cap Companies

Five out of the 15 companies listed belong to the financial sector, and the textile, IT, auto and chemical sectors have just one firm each. Despite having the lowest market capitalisation on the list, at Rs 765 crore, Forbes & Company gave its shareholders a yield of 11%. IDFC has the highest market capitalisation, at Rs 14,424 crore and paid out the third highest dividend-yield.

HUDCO, Geojit Financial Services and CESC have paid the lowest dividends in the past 12 months, at Rs 3.5, Rs 3, and Rs 4.5 respectively, with yields varying between 6-7%. Polyplex Corporation paid out the highest dividend over the past fiscal year among companies on the list, at Rs 106 per share. Despite being small-cap companies, some firms’ dividends and dividend yields often beat those of large-caps, mid-caps and PSUs.