5 mid caps that combine steady growth and solid dividends

Everyone loves a stock that grows. But what if it also pays you along the way?

Using Value Research’s stock screener, we went hunting for mid-cap stocks that strike the perfect balance—steady growth and solid dividend payouts. We filtered for companies with a Growth Score of 6 and above, a dividend yield of over 2 per cent, and a payout ratio under 40 per cent—a sign they’re rewarding shareholders without compromising reinvestment.

The result? Five mid-cap stocks that aren’t just climbing steadily, they’re also putting money in your pocket. Let’s dive in.

National Aluminium Company

National Aluminium Company (NALCO) is a government-owned company that handles everything from mining bauxite to producing aluminium and generating its own power. It makes and sells alumina (a raw material for aluminium) and finished aluminium products. In 2023-24, it ran at full capacity, producing record volumes of alumina and aluminium. Nearly half of its alumina was exported, while over 98 per cent of its aluminium was sold within India.

Below are the key metrics of the company:

NMDC

NMDC is a government-owned mining company and India’s largest producer of iron ore. In FY24–25, the company mined about 54 million tonnes of iron ore and sold over 50 million tonnes. It operates close to full capacity and earns all its revenue from within India, with no overseas business.

Pfizer

Pfizer is the Indian subsidiary of global pharma giant Pfizer Inc. It makes and sells prescription medicines in India, covering areas like vaccines, heart health, infections, pain relief, and respiratory care. The company operates solely in the pharmaceutical segment. In FY24, nearly all its revenue, over 99 per cent, came from domestic sales, with exports playing a minimal role.

Redington

Redington is a global distributor of IT products and a provider of supply chain and digital services. It operates in over 40 countries, partnering with 450+ global brands. The company offers everything from hardware and software to cloud and managed services. In FY25, around half its revenue came from India and South Asia, with the rest from the Middle East, Africa, and Turkey.

Sun TV Network

Sun TV Network is among India’s largest media companies, with 33 TV channels and 68 FM radio stations across South Indian languages. It also owns the IPL team SunRisers Hyderabad and earns from content distribution and film production. In FY24, 76 per cent of its revenue came from TV broadcasting, 13 per cent from IPL, and the rest from movies and other segments.

Mid-cap dividend payers

Want to quickly shortlist companies that score high on our Stock Ratings? Explore our stock screener list and find the combination of growth, quality, valuation and momentum you are looking for.

Bonus: 4 mid caps that raced up to 46% in a year, but remain cheap