Sun TV drops ex-dividend

Sun TV Network lost 1.76% to Rs 743.45 at 15:14 IST on BSE on turning ex-dividend today, 22 March 2017, for interim dividend of Rs 5 per share for the year ending 31 March 2017.

Meanwhile, the S&P BSE Sensex was down 318.69 points or 1.08% at 29,166.76.

On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 2.04 lakh shares in the past one quarter. The stock had hit a high of Rs 752 and a low of Rs 741.55 so far during the day.

The stock had hit a record high of Rs 773.40 on 9 February 2017 and a 52-week low of Rs 334 on 24 June 2016. The stock had outperformed the market over the past one month till 21 March 2017, advancing 7.58% compared with the Sensex's 2.52% rise. The scrip had also outperformed the market over the past one quarter, gaining 54.49% as against the Sensex's 12.36% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 5.

Before turning ex-dividend, the stock offered a dividend yield of 0.66% based on the stock's closing of Rs 756.75 yesterday, 21 March 2017.

Sun TV Network's net profit rose 11% to Rs 240.09 crore on 2.8% growth in net sales to Rs 589.43 crore in Q3 December 2016 over Q3 December 2015.

Sun TV Network is one of the largest television broadcasters in India, operating satellite television channels across four languages of Tamil, Telugu, Kannada and Malayalam. It also operates FM radio stations across India.

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