INTERIM DIVIDEND
RBI's bumper payout to limit big ticket divestment; govt to maintain Rs 50k cr target: Report
A record Rs 2.1 lakh crore dividend payout by the RBI is expected to reduce the urgency for major divestments, according to Care Ratings, maintaining the government's Rs 50,000 crore target from divestments. Asset monetisation may be preferred if there is a resource shortfall, with SCI sales aiding in achieving the FY25 target. Potential divestments in SCI, CONCOR, and Pawan Hans are on the horizon, with projected total divestment proceeds reaching Rs 12,500-22,500 crore.
Fiscal deficit in April-May at 3% of annual target
The official data revealed the fiscal deficit reduced significantly between April and May, indicating financial improvement. Analysts foresee a faster fiscal consolidation than expected, with potential to enhance expenditure. Aditi Nayar from ICRA highlighted the positive revenue trend, showcasing opportunities for economic growth and sustainability.
Budget Preview: Govt could use part of RBI dividend to reduce fiscal deficit, says Motilal Oswal
A transfer of Rs 2.11 lakh crore by the RBI implies excess receipts of about Rs 1.5 lakh crore in FY25, the MOFSL note said. MOFSL sees the new government largely retaining its tax and non-debt capital receipt (including disinvestment) projections as presented during the interim Budget in February.
Microcap stock rallies 15% after announcing plans of bonus, dividend, stock split
Shares of Milkfood surged 15% to Rs 781 on BSE after announcing plans for bonus issue, dividend, and share sub-division in board meeting on June 25.
HAL to consider final dividend payout for FY23-24 on June 26
On Wednesday, Hindustan Aeronautics (HAL), a defense PSU, disclosed its plan to discuss the payment of the final dividend for the fiscal year 2023-24 during its board meeting scheduled for June 26th.
HDFC AMC announces dividend of Rs 70 per share for FY 24
On Friday, during its meeting, the board of directors of HDFC Asset Management Company (HDFC AMC) declared an interim dividend of Rs 70 per share for its eligible shareholders.
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IEX, Infosys among 10 stocks in focus today ahead of AGM and stock split
IT giant Infosys declared a dividend of Rs 20/share along with a special dividend of Rs 20 per share. The record date for the same is May 31. The company's board meeting is also scheduled for today
Hudco Q4 Results:Net profit rises 9% YoY to Rs 700 crore
The company's total income for the quarter was 18% higher at Rs 2,194 crore against Rs 1,862 crore. Its board recommended a final dividend of Rs 2.65 per equity share on the face value of Rs10 each for the financial year 2023-24.
Muthoot Finance declares interim dividend of Rs 24 per share
Muthoot Finance announces an interim dividend of Rs 24 per share for FY23-24, with a record date of June 1. The company assures adherence to RBI guidelines on cash disbursement of loans.
ITC announces final dividend of Rs 7.50 per share. Check record date
ITC board declares a final dividend of Rs 7.5 per share alongside Q4 profit of Rs 5,120 crore, missing estimates. Total dividend for FY24 set at Rs 13.75 per share. Revenue up 2% YoY. Stock shows strong technical performance.
Vedanta, SBI among 14 stocks in focus this week for dividend, stock split, bonus issues
SBI announced a dividend of Rs 13.70/share. The record date has been set for May 24 for determining the eligible shareholders. Record date for Sula Vineyards’ dividend of Rs 4.50 per share has been fixed as May 22.
India may raise FY25 CPSE dividend target in full budget
The finance ministry is set to increase CPSE dividend estimates by Rs 5,000 crore to approximately Rs 53,000 crore for the current fiscal year in the full budget to be presented in July. This adjustment reflects improved dividend forecasts based on updated financial data. Dividend receipts for 2023-24 totaled Rs 63,000 crore.
Multibagger defence PSU BEL surges over 9% after Q4 results, earns upgrade from Motilal
BEL shares hit a record high, up 9% after a 30% profit increase and dividend declaration. Brokerages are optimistic about BEL's growth potential, with target prices set by Nomura & Motilal Oswal, citing improved margins & government support for the defence sector.
Vedanta to raise upto Rs 8,500 crore; announces first FY25 interim dividend of Rs 11 per share
This will amount to a total payout of Rs 4,089 crore. May 25 has been fixed as the record date for payment of dividend. The announcements were made after market hours and the stock had ended at Rs 433.60 on the NSE — down by Rs 3.80 or 0.87% over Wednesday’s closing price. The company board has also approved setting up of a continuous cast copper rod plant in Saudi Arabia.
Oberoi Realty shares jump 7%, hit 52-week high after Q4 net profit rises 68% YoY
Oberoi Realty shares soared 7% to a 52-week high of Rs 1,629 on BSE after reporting a remarkable 64% YoY surge in net profit to Rs 788 crore for the March quarter. Revenue rose by 36.8% to Rs 1,314.8 crore, with a significant improvement in EBITDA and margin.
Hindustan Zinc announces Rs 10 dividend, shares drop 4%
Hindustan Zinc Dividend: The record date of payment of the interim dividend is Wednesday, May 15, 2024, and the Interim Dividend shall be duly paid within the stipulated timelines as prescribed under law, it said.
Nestle India announces dividend of Rs 8.50 per share. Check record date
Nestle India announced a dividend of Rs 8.50 per share with March quarter results. The company reported a 27% increase in net profit year-on-year (YoY) for the said quarter.
ICICI Securities Q4 Results: Cons PAT soars 104% YoY to Rs 536.53 crore; co declares Rs 17/share dividend
ICICI Securities reported a significant increase in net profit to Rs 536.53 crore for Q4FY24, with a rise in revenue and approval of a second interim dividend. Bajaj Auto also showed a 35% YoY increase in PAT.
PFC pays Rs 2,033 crore interim dividend to Govt for FY24
PFC paid ₹2,033 crore dividend to the government for FY23-24 in three instalments. Highest-ever interim dividend presented to RK Singh. Total interim dividends of ₹3,630 crore distributed. PTI reported the record dividend payments.
Ashok Leyland declares interim dividend of Rs 4.95 per share, fixes record date
The record date for determining the members eligible to receive the interim dividend is fixed as April 3. The said dividend would be paid on or before April 23.
Bharat Dynamics announces 2:1 stock split, interim dividend of Rs 8.85/share
The Board, at its meeting earlier on Thursday, also approved the appointment of Gayatri Prasad, General Manager (Finance) as the Chief Financial Officer of the company, consequent to a cessation of Srinivasulu as Director (Finance) and CFO on January 31.
REC board okays third interim dividend of Rs 4.5 per share
State-owned REC's board on Tuesday approved a third interim dividend of Rs 4.5 per share with face value of Rs 10 each for 2023-24. Earlier, the company has already announced two interim dividends, totalling Rs 6.5 per share for the current fiscal.
SBI Cards to pay Rs 2.5/share interim dividend, sets record date
SBI Cards declared Rs 2.5 interim dividend per share for the financial year 2023-24. The record date is March 28, and the dividend will be credited by April 17. Various factors impact the company's performance.
PFC board approves 3rd interim dividend of Rs 3/share
Power Finance Corporation (PFC) on Monday approved a third interim dividend of Rs 3 per share for fiscal year 2023-24. With this, the total interim dividend for the fiscal year is Rs 11 per share of Rs 10 each.
TVS Motor board approves interim dividend of Rs 8/share, fixes record date
March 19 is the record date to determine the eligibility of shareholders. The said dividend will paid within 30 days from the declaration. This interim dividend will be paid to those shareholders, who hold shares in physical or electronic form and whose names appear in the register of members as on the record date.
Nestle India announces interim dividend of Rs 7/share, sets record date
Revenue from operations rose 8% year-on-year (YoY) to Rs 4,584 crore in the reporting fourth quarter. The company follows a January-December financial year.
LIC board to consider interim dividend, declare Q3 earnings on February 8
In July 2023, the country’s largest life insurer paid a dividend of Rs 3 a share. On Monday, shares of LIC ended 5.3% higher on the National Stock Exchange at Rs 995.75. Intraday, shares of the insurance major had rallied close to 9% to hit an all-time high of Rs 1,028. Its market capitalisation topped the Rs 6-lakh crore mark, making it India's most valued PSU by beating the State Bank of India.
Puravankara announces total interim dividend payout of Rs 149 crore for shareholders
During the first nine months of FY24, the company achieved the highest-ever customer collections, totaling Rs 2,515 crore, reflecting an enhancement in operating efficiencies. Cash flow from operations for 9M FY24 stood at Rs 2,826 crore, reflecting a notable increase of 35% for the same period in 9M FY23. Additionally, the operating surplus for 9M FY24 surged to Rs 965 crore, marking a substantial 101% rise from the same period in FY23. The company’s current cash balance stands at Rs 822 crore.
Budget 2024: Government may set higher dividend target at Rs 70,000 crore from RBI, banks and FIs
The current financial year estimate has already exceeded the Budget target as RBI paid a dividend of Rs 87,416 crore. With public sector banks and financial institutions posting good quarterly numbers during the current financial year, the dividend payout by them in the coming year would be higher compared to this year. So, it would be feasible to expect about Rs 70,000 crore as dividend payout from RBI and financial institutions in FY'25, sources said.
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