Redington said that its board has recommended a dividend of Rs 6.20 per share for the financial year ended 31 March 2024, subject to the approval of shareholders.
At yesterdays closing price of Rs 204.10, the dividend payout translates to a dividend yield of 3.04%.
The company has fixed 5 July 2024 as the record date for the purpose of determining the names of members eligible for the aforesaid dividend.
Redington is a leading distributor of IT and mobility products and a provider of supply chain management solutions and support services in India, Singapore, South Asia, Middle-East, Turkey and Africa. REDIL procures IT and mobility products from vendors, handles distribution logistics, sells the same to resellers and dealers.
The company's consolidated net profit rose 5% to Rs 325.59 crore on a 2.68% increase in revenue to Rs 22,433.41 crore in Q4 FY24 over Q4 FY23.
The scrip fell 4.41% to currently trade at Rs 195.10 on the BSE.
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