ET 500: Top dividend payers of 2016

When markets turn weak and growth looks uncertain, companies that pay high and consistent dividends become the most coveted on the street. Large caps are preferred as their earnings tend to be less volatile.

The top five companies based on this measure in the ET 500 paid a total of Rs 51,750 crore as dividends in FY16. Leading the pack was government-owned Coal India, which paid a total dividend of Rs 17,300 crore, up 32% from the year before.

Anil Agarwal-owned mining company Hindustan Zinc was second on the list. That could be a one-off given that parent Vedanta had a high debt repayment.


The next three on the list weren't a surprise, being among India's most valued and highest cash-generating companies-Tata Consultancy Services, government-owned ONGC and India's largest cigarette company ITC. They paid dividends in the range of Rs 6,800 crore to Rs 8,570 crore.