Highest Dividend-paying Stocks: The earnings season for Indian equities has largely concluded, with several major companies reporting their quarterly results. Most large-cap players delivered solid performances, posting healthy growth in both revenue and profit, highlighting the resilience of corporate India despite prevailing market uncertainties.
Among the top 10 companies by revenue, the list comprises a mix of private-sector giants and public sector undertakings (PSUs). However, it was the Mukesh Ambani-led Reliance Industries (RIL) that emerged as the country’s highest revenue-generating company during the reporting season.
At first glance, investors may assume that companies generating the highest revenues are also the most generous when it comes to rewarding shareholders through dividends. However, the numbers tell a different story.
Despite reporting the highest revenue among the top 10 companies, RIL announced a dividend of Rs 6 per share for the financial year. Notably, this was the lowest dividend payout among the 10 highest revenue-generating companies, underscoring that revenue size does not necessarily translate into higher shareholder payouts.
Reliance Industries (RIL)
Reliance Industries topped the revenue chart with FY26 revenue of Rs 10.57 lakh crore, but paid the lowest dividend among the top 10 companies at Rs 6 per share.
Indian Oil reported FY26 revenue of Rs 8.59 lakh crore and rewarded shareholders with a dividend of Rs 8.25 per share.
Oil and Natural Gas Corporation (ONGC)
ONGC posted revenue of Rs 6.62 lakh crore during FY26 and announced a dividend of Rs 13.25 per share.
BPCL generated Rs 5.22 lakh crore in revenue and declared a dividend payout of Rs 17.5 per share.
State Bank of India (SBI)
SBI reported FY26 revenue of Rs 5.14 lakh crore and paid a dividend of Rs 17.35 per share.
HDFC Bank recorded revenue of Rs 3.48 lakh crore and announced a dividend of Rs 18 per share for shareholders.
TCS earned Rs 2.67 lakh crore in revenue and stood out with the highest dividend payout among the top 10 at Rs 110 per share.
M&M reported FY26 revenue of Rs 1.97 lakh crore and declared a dividend of Rs 25.3 per share.
Infosys
Infosys posted revenue of Rs 1.78 lakh crore and rewarded investors with a dividend of Rs 48 per share.
Coal India generated Rs 1.68 lakh crore in revenue and announced a dividend of Rs 26.4 per share
Bottom Line
The data underscores that higher revenue does not necessarily translate into higher dividend payouts, with TCS offering the highest dividend despite generating less than one-fourth of Reliance Industries’ revenue.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
