Up to Rs. 30 billion! Promoters of these 5 businesses have already received a sizable dividend income in FY23

Promoters of these 5 businesses have already received a sizable dividend income in FY23, Tata Sons, the TCS promoter group, has received close to Rs 30,000 crore in dividend payments from the IT giant.

In the past year, a plethora of dividend-paying firms has distributed significant dividends. Since many domestic companies have sizable promoter stakes, along with investors, the promoters of such companies have profited from the generous dividend payouts. According to data provided by AceEquity, Tata Consultancy Services (TCS), Anil Agarwal’s Vedanta, and Hindustan Zinc promoter groups got the largest dividend payouts. State-owned ONGC and Coal India contributed to the government’s coffers as well.

These five dividend-paying firms distributed dividends totaling thousands of crores. 

Tata Consultancy Services

As of March 31, 2023, Tata Consultancy Services, the second-most valuable firm in India, has a market capitalization of Rs 11.72 lakh crore. In the previous 12 months, TCS declared a dividend of Rs 113 per share. With a total of 264.5 crore TCS shares, Tata Sons earned about Rs 29,900 crore as dividend income in FY23. The promoter of the business, Tata Sons, owns 72.3% of the shares in TCS.

Vedanta

Since the mining company paid out Rs 101.5 per share in total dividends over the course of the previous year, Vedanta‘s promoters got more than Rs 26,000 crore in dividend income. The promoter group, led by billionaire Anil Agarwal, owned 259 crore shares, or 69.69% of the company’s stock. Currently, Vedanta was in control of a market cap of Rs 1.03 lakh crore.

Hindustan Zinc

Throughout the past year, Hindustan Zinc has paid shareholders a dividend of Rs 75.50 per share. As of December 31, promoters controlled 274.3 crore shares or 64.92 percent of Hindustan Zinc. Hindustan Zinc’s promoters received Rs 20,700 crore in dividend income from the business. Its current market capitalization is Rs. 1.24 lakh crore.

Oil & Natural Gas Corporation

For the past 12 months, this state-owned energy company gave its shareholders a dividend of Rs 14 per share. The corporation is owned by the government 58.89% of the time. The dividend from the government’s 740.90 crore equity shares was roughly Rs 10,300 crore. The market value of ONGC is Rs 1.9 lakh crore.

Coal India

Throughout the past year, this PSU company has paid a dividend of Rs 23.25 per share. It has a market value of Rs. 1,311,000,000,000. Coal India‘s promoter, the Indian government, is the owner of 407.5 crore shares, or 66.1% of the company’s stock. The government has received dividends of Rs 9,475 crore from this stock ownership so far this fiscal year.