Page 15 - Dividend

JK Cement, JSW Steel, Polycab among 10 stocks to go ex-dividend on Tuesday

These 10 companies had fixed July 09 as the record date for a dividend payout of up to Rs 30 per share.

RBI bonus trims April-May fiscal deficit to 3% of entire FY25 target

The fiscal deficit in the corresponding period last year was 11.8 per cent of the budget estimates at Rs 2.1 trillion

SBI pays Rs 6,959 crore dividend to govt, BoM gives Rs 857 crore for FY24

The country's biggest lender State Bank of India (SBI) on Friday paid a dividend of Rs 6,959 crore for the financial year 2023-24 to the government. The dividend cheque was presented to Finance Minister Nirmala Sitharaman by SBI Chairman Dinesh Kumar Khara in the presence of Financial Services Secretary Vivek Joshi. "Smt @nsitharaman receives a dividend cheque of Rs 6959.29 crore for FY 2023-24 from @TheOfficialSBI Chairman Shri Dinesh Kumar Khara," the finance ministry said in a post on X. SBI declared a dividend of Rs 13.70 per share for the financial year 2023-24, higher than Rs 11.30 per equity distributed for the previous year. During 2023-24, the bank earned a record consolidated net profit of Rs 67,085 crore against Rs 55,648 crore in the preceding year.

Persistent Systems shares jump 5% on Rs 10 dividend announcement

The surge in share price came on the back of a divided announcement, coupled with Accenture's Q3 performance, which met street expectations

Listed CPSUs to pay record Rs 1.26 trillion equity dividend for FY24

State-run entities will distribute 26.8% of net profit as equity dividend in FY24 - lowest payout ratio in at least a decade

RBI's dividend transfer may ease deposit rates if govt spends it: Ind-Ra

India Ratings and Research (Ind-Ra) on Thursday said the Rs 2.11 lakh crore dividend transfer by the RBI is likely to ease liquidity pressure and bring down deposit rates in the banking system if the government spends the amount. It said the mega dividend will give a fillip to the central government's fiscal position, which may lead to additional spending or fiscal consolidation or a combination of both. However, the structural challenges for banks in term of deposit accretion will continue in the medium to long term. "The agency expects the RBI's INR 2.1 trillion dividend transfer to the government will improve the liquidity conditions and alleviate heightened pressure on the banking system deposit, leading to the easing of pressure on cost of liabilities for banks in the near term," Ind-Ra said in a statement. The RBI board last week decided to transfer Rs 2.11 lakh crore dividend to the government out of the profits earned in 2023-24. If the government spends the amount, it will

Multinationals post 45.2% growth in net profit in FY23, shows RBI data

Post-pandemic improvement in margins boosts bottom line

Record RBI dividend at 0.6% of GDP may not be sustained, says Fitch

Fitch said an important driver of higher RBI profits appears to be higher interest revenue on foreign assets, though the central bank has not yet provided a detailed breakdown

RBI dividend usage to signal new govt's fiscal priorities: Ratings agencies

Global rating agencies on Friday said windfall of Rs 2.1 lakh crore dividend from the RBI is positive for the country's fiscal metrics and its usage will provide a signal around the new government's fiscal priorities. The board of India's central bank earlier this week decided to pay Rs 2.1 lakh crore dividend to the government from the profits earned in 2023-24. This is more than double of Rs 1.02 lakh crore that was budgeted by the government. Fitch Ratings Asia-Pacific Sovereigns Director Jeremy Zook said sustained deficit reduction, particularly if underpinned by durable revenue-raising reforms, would be positive for India's rating fundamentals over the medium-term. "The use of the dividend -- whether it is saved or used for additional spending -- could provide a signal around the government's fiscal priorities," Zook told PTI in an email response. Fitch has a 'BBB-' rating on India with a stable outlook. In January, the rating agency had affirmed India's rating on robust growt

This small-cap stock dropped 7% in trade on May 24; dividend announced

Landmark Cars' net profit dropped over 54 per cent to about Rs 11 crore in the fourth quarter of financial year 2024 (Q4FY24), from Rs 24.3 crore in the same quarter previous fiscal (Q4FY23)

RBI's surplus transfer sparks hope for reduced govt borrowing by Rs 1 trn

Bond market participants are now focusing on the upcoming monetary policy meeting in June to assess the central bank's liquidity stance

Fiscal bonanza

RBI transfer should be used for fiscal consolidation

Govt eyes Rs 1 trillion in dividend from RBI to meet budget deficit target

A big surplus transfer will help the government in meeting any shortfall in disinvestment receipts and create room for funding welfare programmes after the elections

Nifty Metal index hits record high on May 21; what's fuelling the rally?

The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25

FinMin likely to raise FY25 CPSE dividend target by Rs 5K cr in full Budget

The finance ministry is likely to raise the CPSE dividend estimates by Rs 5,000 crore to around Rs 53,000 crore for the current fiscal in the full budget to be presented in July. In the interim budget 2024-25, the government had pegged dividend estimates from non-financial central public sector enterprises (CPSEs) at Rs 48,000 crore for the current fiscal. "The estimates may go up by about Rs 5,000 crore in the final budget to be presented in July," an official told PTI. The interim budget estimates were based on the estimates in December 2023, and January 2024, and the estimates in the full budget will be higher as we have a better picture of the dividend now, the official added. The dividend receipts of the government in a particular fiscal include interim dividends announced by state-owned companies during the fiscal, as well as final dividends for the previous fiscal. So far in the current financial year, the government has obtained Rs 4,837.25 crore as dividends from the ...

eClerx Services shares drop 5% as IT firm announces share buyback, Q4 show

eClerx plans to allocate up to Rs 385 crore for its buyback, equivalent to 24.98 per cent of the total paid-up equity share capital and 18.38 per cent of free reserves

Aster DM surges 14%, hits new high on special dividend of Rs 118 per share

Average trading volume on the counter jumped over four-fold in early delas with a combined 5.8 million equity shares changing hands on the NSE and BSE

Selecting a REIT: Factor in capital gains and dividend payouts

The Indian REITs Association, a newly formed umbrella body, has meanwhile requested Sebi to classify REITs as equities and petitioned RBI to allow banks to lend to REITs

Dividend from PSUs exceed revised estimates target by 26% in FY24

Higher-than-estimated dividend collection can be attributed to the consistent dividend policy announced in 2020. It requires state-run companies to pay interim dividends against one annual payout

Public sector banks' dividend payout may exceed Rs 15,000 crore in FY24

Public sector banks (PSBs) are likely to pay a dividend in excess of Rs 15,000 crore for the financial year ending March 2024 on the back of improved profitability, according to sources. In the first three quarters of the current financial year, all 12 PSBs earned a total profit of Rs 98,000 crore, only Rs 7,000 crore less than the entire FY23. PSBs earned the highest-ever aggregate net profit of Rs 1.05 lakh crore during FY23 compared to Rs 66,539.98 crore earned in 2021-22. As a result, the government earned a dividend of Rs 13,804 crore, 58 per cent higher than the Rs 8,718 crore paid out in the previous financial year. Since the profit in the current financial year would be much higher than the previous year, so will be the dividend payout to the government, sources said. Going by the past record, the dividend payout for FY24 should be in excess of Rs 15,000 crore, they added. Earlier in January, the Reserve Bank, in its draft guidelines, proposed to allow banks having net ..