Bajaj Finance board OKs amendment to dividend distribution policy

The NBFC said it will endeavour to maintain a dividend payout in the range of 15% to 25% of profit after tax on standalone basis.

"In terms of the amendment, the board will endeavor to maintain a dividend payout in the range of 15% to 25% of profit after tax on standalone basis, subject to the applicable regulations and to the extent possible, as against the earlier payout of up to 15%," the company said in a statement during market hours today.

Bajaj Finance is engaged in lending and allied activities. It focuses on consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits and value-added services.

 

The company reported a 29% drop in consolidated net profit to Rs 1145.98 crore on a 5.2% fall in total income to Rs 6658.47 crore in Q3 December 2020 over Q3 December 2019.

The scrip fell 1.98% to currently trade at Rs 5444.80 on the BSE. It traded in the range of 5350 and 5584.95 so far during the day.

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