Page 16 - Dividend

REC board approves third interim dividend of Rs 4.5 per share for 2023-24

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. A regulatory filing stated that the board, in its meeting held on Tuesday, approved the declaration of interim dividend at the rate of Rs 4.50 per equity share of Rs 10 each for the financial year 2023-24. The record date for the interim dividend is Thursday, March 28, 2024, and it will be paid on or before April 17, 2024, to those shareholders. The board also approved the sale and transfer of the entire shareholding of three wholly-owned subsidiaries, presently held by REC Power Development and Consultancy Ltd (RECPDCL), a wholly-owned subsidiary of REC to the successful bidders selected through a tariff-based competitive bidding process. The three subsidiaries are Kallam Transco (sold to Indigrid 2 Limited and Indigrid 1 Limited- ...

Government CPSE dividend collection hits record high of Rs 61,149 crore

Dipam recorded total receipts of Rs 75,886 crore for both disinvestment proceeds and dividend collections

Global corporate dividends hit record $1.66 trn in 2023 amid bank payouts

The world's biggest dividend payers in 2023 were Microsoft , followed by Apple and Exxon Mobil

Vedanta told to pay Cairn Rs 77.6 crore, Board barred from market

The Securities and Exchange Board of India (Sebi) in a 76-page order said Vedanta must make the payment within 45 days or face further action

Govt's dividend income from RBI in FY25 to be similar to FY24: Report

For fiscal 2025, the government has budgeted a 1.02 trillion rupees surplus transfer from RBI and public sector banks, but had not provided a break-up between the two in the budget

Govt projected to receive Rs 1.02 trn as dividend from RBI, PSBs in FY25

The government on Thursday projected a dividend income of Rs 1.02 lakh crore from the RBI and public sector financial institutions in the next financial year. The government is set to earn a higher dividend of Rs 1.04 lakh crore in the current fiscal against the Budget Estimate of Rs 48,000 crore. The current financial year estimate exceeded the Budget Estimate as RBI paid a dividend of Rs 87,416 crore in May last year. In the previous financial year, the government mobilised Rs 39,961 crore from RBI and public sector financial institutions. Meanwhile, the government estimated Rs 43,000 crore as dividend payments from Central Public Sector Enterprises (CPSEs). Other investments also rose to Rs 50,000 crore during the current fiscal. In all, the government projected to mobilise Rs 1,54,407 crore as dividend from the RBI, public sector banks and CPSEs in the current fiscal. For the next financial year, it is slightly lower at Rs 1.50 lakh crore from CPSEs, RBI and banks. The highe

Govt may raise dividend target to Rs 70k cr from RBI, banks, FIs in Budget

Having reaped rich dividends from the Reserve Bank in the current financial year, the government will be looking forward to receiving about Rs 70,000 crore from the central bank and the financial institutions (FIs) in the next financial year. In the interim Budget to be unveiled in the Lok Sabha on February 1 by Finance Minister Nirmala Sitharaman, sources said, the government would peg receipts from dividends from financial institutions at much higher level than Rs 48,000 crore estimated for the current fiscal. 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. The government had

Aster DM to pay up to Rs 120 a share dividend on Gulf business sale

In November, Aster DM had announced its plans to sell its wholly-owned subsidiary Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion

Aster considering to pay 70-80% of $903 mn Gulf demerger money as dividends

The company said on Monday it plans to use the proceeds to pay shareholders between 110 rupees and 120 rupees per share as dividends

India may surpass FY24 target for state-run firms' dividends by Rs 12K-cr

So far this fiscal, India has received Rs 43,800 crore in dividends from state-owned firms, according government data.

Unclaimed assets: Create searchable databases

Over Rs 1.5 trn can be unlocked and put to productive use if unclaimed assets are restored to their rightful owners

Vedanta approves dividend, Siemens India to set up energy business arm

Vedanta said its board of directors have approved a second interim dividend of Rs 11 per share, for the Financial Year 2023-24 amounting to Rs 4,089 crore

What the new Nifty50 Total Return Index is all about

The new Nifty 50 Net Total Return index aims to measure how Nifty 50 performs by taking into account reinvested cash dividends and gains from bonuses issued

BP's $3.3 billion profit misses forecast on weak gas, dividend unchanged

The British company maintained its dividend at 7.27 cents per share and extended its $1.5 billion share buyback programme over the next three months, leaving its payout policy unchanged

Tata Sons shareholders clear directors' appointment, dividend payment

Holding company of Tata group reappoints Saurabh Agrawal and Ralf Speth for another 5 years

OnlyFans owner Radvinsky got $338 mn in dividend as 2022 profit soared

OnlyFans posted profit of $403.7 million in the year ending Nov. 30, up 24% from the previous year, its parent company Fenix International Ltd. said in a report published on Thursday

Indian banks' dividend to rise to at least 7-year high in FY24: S&P report

MUMBAI (Reuters) - Indian banks' aggregate dividend payout to shareholders is set to rise to its highest level in at least seven years in 2023-2024, helped by strong business metrics and healthy credit growth, a report from S&P Global Market Intelligence showed.

Union Bank hands over record dividend of Rs 1,712 cr to government

State-owned Union Bank of India on Wednesday presented a dividend cheque of Rs 1,712 crore for 2022-23. It is the highest dividend Union Bank of India has given in any financial year, the bank said in a statement. Union Bank of India managing director A Manimekhalai handed over the dividend cheque to Finance Minister Nirmala Sitharaman in the presence of Joint Secretary (Banking) Sameer Shukla.

Govt gets over Rs 3,400 cr dividend from NIIF, ECGC: DIPAM Secretary

The government has received over Rs 3,400 crore as dividend tranches from NIIF and ECGC. The government has already mopped up Rs 5,200 crore as dividend from public sector companies so far in the current fiscal. "Government has respectively received about Rs 3,031 crore and Rs 434 crore from National Investment and Infrastructure Fund Ltd (NIIFL) and ECGC as dividend tranches," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.

Indiabulls Housing board okays 62.5% dividend payout, rebranding plans

To Rs 35,000 cr via NCDs; to rebrand itself