Bharti Infratel declares dividend of Rs 12 per share

Mobile tower company Bharti Infratel today declared an interim dividend of Rs 12 per equity share.
This is the highest dividend paid by the company so far. In 2015-16, it had paid a dividend of Rs 3 per share.
"...The board of Directors of the Company at their meeting held today...Has declared an interim dividend of Rs 12 per equity share of Rs 10 each for the financial year 2016-17," Bharti Infratel said in a regulatory filing.
"The company has fixed April 3, 2017 as the record date for the purpose ascertaining the eligibility of shareholders for the payment of interim dividend," the filing added.

While its parent firm Bharti Airtel posted around 50 per cent decline in net profit for the third quarter ended December 31, 2016, the mobile tower firm registered 25 per cent increase in consolidated net profit to Rs 620 crore for the quarter.
It had posted a net profit of Rs 495 crore in the same period of last fiscal, 2015-16.

The consolidated revenue of Bharti Infratel increased by 10 per cent to Rs 3,400 crore during the October-December quarter of 2016-17, as against Rs 3,105.5 crore posted in the same period of 2015-16.
The consolidated tower base of Bharti Infratel, including its share in Indus Towers, stood at 90,255 towers at the end of 2016.

Shares of Bharti Infratel closed at Rs 312.65, down 0.11 per cent, at BSE today.