The interim payouts booty will enrich the promoters of India Inc by Rs 2,239 crore. The balance Rs 2,378 crore will be distributed among foreign institutional investors, institutional investors and public holders.
Interim payout, however, is up by a modest 7.75 per cent over the dividend of Rs 4,248 crore paid by these firms in the financial year 2005-06. This means there is a possibility of these companies proposing final dividends for the year when they finalize their audited accounts for 2006-07.
The major interim dividends announcements were by Reliance Industries (110 per cent), Larsen & Toubro (550 per cent), Hindalco (170 per cent), Grasim Industries (275 per cent), JSW Steel (125 per cent), IPCL (60 per cent), Suzlon Energy (50 per cent) and Sun Pharmaceuticals (135 per cent).
Mukesh Ambani, who holds over 50 per cent stake in Reliance Industries will benefit the most from the interim payout. He will take home Rs 816 crore out of the total dividend of Rs 1,719 crore proposed by Reliance Industries (Rs 1,533 crore), IPCL (Rs 180 crore) and Reliance Industrial Infrastructure (Rs 5 crore).
