Page 18 - Dividend

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 ..

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