124 companies declare Rs 12,213 cr payout last quarter

The promoters of 124 companies have rewarded investors by way of interim dividend on the back of healthy growth in net profit during first nine months ended December, 2009.

As many as 124 companies announced interim dividends of Rs 12,213 crore for the first nine months of FY10, against 64 companies making a payout of Rs 9,927 crore as interim dividend in the same period of FY09.

These 124 companies have posted aggregate net profit growth of 11% at Rs 57,548 crore in first nine months between April and December, 2009 as compared to  5% rise in net profit to Rs 51,834 crore during same period of FY09.

The promoters will have to shell out more funds from the company's net profits, as the dividend pay-out ratio (dividend as a percentage of total net profit) has increased to 21% from 19%.

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