Mid-cap stocks are a combination of both small-cap and large-cap stocks. They have the potential to grow like small-cap stocks and offer steady returns over a long period of time like large-cap stocks. In other words, they provide a balance between growth and stability. However, the icing on the cake is the dividend that some of them provide.
As per the latest classification, midcap stocks are those that have a six-month average capitalization of greater than ₹ 16,800 crores and below ₹ 48,900 crores. Here are three midcap stocks with a high dividend yield:
REC Ltd
REC is a central public sector undertaking under the Ministry of Power. It finances projects in the complete power sector value chain from generation to distribution. The company has a market capitalization of ₹ 31,507 crores and its shares closed at ₹ 117.05 apiece on the National Stock Exchange (NSE).
With a dividend yield of 11.14%, REC has declared the following dividends in the past year:
| Dividend per share | Dividend(%) of Face Value | Effective Date |
| ₹3.25 | 32.50% | 09/02/2023 |
| ₹5.00 | 50.00% | 07/11/2022 |
| ₹4.80 | 48.00% | 12/07/2022 |
Oil India Ltd
Oil India is engaged in the exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. It also provides various E&P-related services for oil blocks. The company has a market capitalization of ₹ 27,772 crores and its shares closed at ₹ 249.65 apiece on the NSE.
With a dividend yield of 7.81%, Oil India has declared the following dividend in the past year:
| Dividend per share | Dividend(%) of Face Value | Effective Date |
| ₹10.00 | 100.00% | 22/02/2023 |
| ₹4.50 | 45.00% | 21/11/2022 |
| ₹5.00 | 50.00% | 15/09/2022 |
Oracle Financial Services Software Ltd
The company provides financial software, custom application development, consulting, IT infrastructure management, and outsourced business processing services to the financial services industry. It has a market capitalization of ₹ 27,772 crores and its shares closed at ₹ 249.65 apiece on the NSE.
With a dividend yield of 6.00%, Oracle Financial Services Software has declared the following dividend in the past year:
| Dividend per share | Dividend(%) of Face Value | Effective Date |
| ₹190.00 | 3800.00% | 13/05/2022 |
Written by Simran Bafna
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