India Inc dividends hit record ₹5.13tn, but payout ratio sinks to 12-year low
BSE 500 firms paid a record ₹5.13 trillion in FY26 dividends, but growth lagged profit growth, dragging the payout ratio to 27.6% — its lowest in 12 years. Companies are retaining more cash for capex (TCS alone is ~8% of payouts), signaling a shift from return-of-capital toward investment.