Oracle Financial to HPCL: Top five mid-cap stocks with high dividend yield

This earnings season all eyes are on the declaration of dividends by companies across sectors. While many leading firms among NIFTY 50 constituents have declared attractive dividends for FY24, the investors holding midcap stocks have not been disappointed as well.

Several NIFTY midcap stocks have figured among top dividend-paying shares that are tracked by the NIFTY Dividend Opportunities 50 Index. The index comprises shares that have declared dividend consistently and rank higher in terms of dividend yield.

Dividend yield, a financial ratio, shows how much a company has paid in dividends annually compared to its stock price.

On the basis of dividend yield, these five stocks are the top dividend-paying shares among Nifty midcap shares in FY 2023-24 so far.

Oracle Financial Software Services Ltd (3%)

OFSS shares have jumped more than 102% in the past year.

HPCL (3%)

The PSU stock has gained over 103% in the past one year.

OIL Ltd (2%)

Also read: Top five NIFTY50 stocks with high dividend yield

OIL shares have rallied more than 146% in the past year.

Indian Bank (2%)

Indian Bank shares have risen 62% in the past year.

Petronet LNG and NMDC (2%)

Petronet LNG Ltd shares have gained over 32% in the last one year while NMDC Ltd stock price has gone up more than 141% during the same period.

Among these top 5 dividend paying midcap companies, Oracle Financial Services and Indian Bank have already announced their Q4 results while HPCL is scheduled to release its earnings report on May 9. Oil India, Petronet LNG and NMDC Ltd are yet to release their results for the March quarter and full financial year 2023-2024. With the Q4 earnings reports, the investors are looking forward to the declaration of final dividend for FY24.