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TCS takes top spot with highest jump in dividend payout ratio

As markets recovered after Covid, Tata Group companies dominated the list of Nifty 50 constituents that saw the biggest increase in dividend payout in FY23.

While Tata Consultancy Ltd. led the list, two other group companies ranked third and ninth among the firms with the biggest increase in the dividend payout ratio. It’s a percentage of earnings paid as dividend to shareholders.

Here’s the complete list:

1. Tata Consultancy Services Ltd.
The IT services firm had a dividend payout ratio of 158, the highest increase in two years, in FY23. That compares with 41.1 in the previous fiscal.

The company paid a total dividend of Rs 42,079 crore for the year, according to Bloomberg data.

2. ITC Ltd.
ITC Ltd. recorded a dividend payout ratio of 182.9, a rise of 89.9 points compared to the previous year’s figure of 92.9.

In absolute terms, ITC paid a total dividend paid at Rs 15,846 crore.

3. Tata Steel Ltd.
The steel company took the third spot with a dividend payout ratio of 50.2.

Highest Increase In Dividend Payout Ratio
Year-on-year change in Nifty 50 companies

4. Oil & Natural Gas Corporation Ltd.
India’s largest crude oil and natural gas corporation had a dividend payout ratio of 39.9, against the previous year’s 8.9.

The total dividend paid for the company stood at Rs 14,153 crore.

5. Divi’s Laboratories Ltd.
The pharmaceutical wholesaler reported a payout ratio of 43.7, with total dividend paid at Rs 796 crore for the year.

The previous year’s ratio stood at 26.9.

6. Cipla Ltd.
Cipla, the second pharmaceuticals company on the list, had a dividend payout ratio of 24.5 against 16 in the previous fiscal.

7. HDFC Ltd.
Housing Development Finance Corporation had a dividend payout ratio of 30.9, with total dividend paid for the year at Rs 8,084 crore.

The mortgage financier also took the same spot among the most profitable companies of FY23.

8. Ultratech Cement Ltd.
The Aditya Birla group backed cement company paid a total dividend of Rs 1,097 crore, with a dividend payout ratio of 21.7.

9. Tata Consumer Products Ltd.
As the third Tata Group company on the list, the consumer goods arm of the group paid a total dividend amount of Rs 785 crore, with a dividend payout ratio of 65.2.

The previous year figure stood at 59.6.

10. Power Grid Corporation Ltd.
In fiscal 2023, the public sector electric services company paid a total dividend of Rs 10,289 crore.

It had a dividend payout ratio of 66.7, compared to the previous year figure of 61.2. Bloomberg

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