New Delhi, Aug. 10 -- Indian companies handed higher aggregate dividends in 2025-26, but the growth in payouts slowed as boards retained a larger share of earnings amid uncertainty over business conditions and investment plans fuelled by the war in West Asia .

A Mint analysis of BSE 500 companies, based on unaudited results and including proposed dividends, showed that aggregate payouts rose 8.2% year-on-year to Rs.5.13 trillion in FY26, slowing from an 11.9% increase in FY25, when payouts stood at Rs.4.74 trillion.

Predictably, cash-rich companies such as Tata Consultancy Services Ltd, ITC Ltd, and Coal India Ltd led shareholder payouts among India's 500 largest listed firms.

The dividend payout ratio-the proportion of earnings distri...