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 NameCMPDividend (FY23)Dividend Yield
TV Today NetworkRs 209Rs 7033%
RSWMRs 178Rs 2514%
IDFCRs 90Rs 1112%
Forbes & CompanyRs 593Rs 6511%
Banco Products (India)Rs 276Rs 2810%
PNB GiltsRs 59Rs 58%
Castrol IndiaRs 115Rs 9.58%
Goodyear IndiaRs 1,217Rs 1008%
Balmer Lawrie InvestmentRs 390Rs 308%
Polyplex CorporationRs 1,416Rs 1067%
Geojit Financial ServicesRs 43Rs 37%
NirlonRs 396Rs 267%
HUDCORs 54Rs 3.56%
CESCRs 71Rs 4.56%
Accelya Solutions IndiaRs 1,272Rs 806%
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.


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