Page 7 - Dividend

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

L&T Q1 preview: Buyback, special dividend and other things to know

So far in this calendar year (CY23), shares of L&T surged 24 per cent, as against 9.1 per cent gain in the S&P BSE Sensex

The dividend route to disaster

Abnormally high dividend pay-outs may harm not only the company but also the market and the economy

CIAL posts record profit of Rs 267 cr, declares highest dividend of 35%

The Cochin International Airport Ltd, the first Greenfield airport setup in Public Private Partnership (PPP) model in the civil aviation infrastructure sector in the country, on Monday declared a record net profit of Rs 267.17 crore for the year 2022-23. In a statement here, the company also announced the highest dividend of 35 per cent for the last fiscal year. The Director Board meeting, chaired by Chief Minister Pinarayi Vijayan, which was held today, finalised the balance sheet and proposed a dividend of 35 per cent to the investors, subject to the endorsement of the Annual General Meeting slated to be held on September, 28, CIAL said. The company said this was the highest dividend ever offered by it in its 25-year operational history. "The board also decided to implement a development strategy accentuating its effort to increase the group turnover to Rs 1,000 crore during the ongoing silver jubilee year," the release said. Chief Minister Pinarayi Vijayan, the chairman of the

Govt to launch portal for unclaimed shares, dividends by February 2024

Currently, investors have to produce about 24 documents for refunds. As a part of the refund process, these documents are checked multiple times at various stages of the process

Bajaj Auto, Tata Comm: Trading strategies for stocks turning ex-dividend

The overall trend in these stocks remain positive, however crucial hurdles need to be conquered to rally further.

Tata AIA Life Insurance to pay Rs 1,183 cr in dividend to policyholders

The higher payout is due to the company reporting a multi-fold increase in net income at Rs 506 crore in FY23, up from Rs 71 crore in the previous fiscal

Everything you want to know about IDBI Bank

Consultation with the RBI is on to check how many technical bidders are 'fit and proper'. In the next stage, financial bids will be called and IDBI Bank will open up the virtual data room for bidders

SBI presents dividend cheque of Rs 5,740 crore to Finance Minister

State Bank of India (SBI) on Friday paid a dividend of Rs 5,740 crore for the financial year 2022-23 to Finance Minister Nirmala Sitharaman. The dividend cheque was presented by SBI chairman Dinesh Kumar Khara in the presence of Financial Services Secretary Vivek Joshi. "Smt @nsitharaman receives a dividend cheque of Rs 5,740 crore for FY 2022-23, which is the highest-ever dividend given by State Bank of India to Govt of India for a financial year, from Shri Dinesh Kumar Khara, Chairman -@TheOfficialSBI. Secretary - @DFS_India Shri Vivek Joshi is also present on the occasion," the finance minister's office said in a tweet. SBI had declared a dividend of Rs 11.30 per equity share (1,130 per cent) for the financial year ended March 31, 2023. For the full 2022-23, SBI's net profit increased 59 per cent to Rs 50,232.45 crore. The profit in the 2021-22 fiscal was Rs 31,675.98 crore.

Top headlines: Govt to get Rs 63K cr dividend, Go First may resume ops

Business Standard brings you the top headlines at this hour

L&T Finance Holdings declares final dividend of Rs 2 per share; stock falls

Shares of L&T Finance Holdings fell over 1 per cent at Rs 105.60 on BSE

Dividend by top 10 payers more than doubles in FY23; TCS tops the table

The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22

India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura

A notable increase in RBI's income, which was driven by profits from foreign exchange sales amounting to Rs 1 trillion, reflects active intervention in the foreign exchange market

India Inc's dividend payout rises 26% to Rs 3.26 trillion in 2022-23

The dividend per share recommended by the top three corporations was more than double that of the previous year, with TCS again at the top of the list

Top Headlines: Govt's dividend from PSBs, Meesho hints at IPO in '25 & more

Business Standard brings you top news at this hour

Grasim Industries Q4 results: Net profit falls 91% to Rs 93.51 crore

The company declared a dividend of Rs 10 per share

Kirloskar Industries announces dividend of Rs 11 per share for FY23

Kirloskar Industries announced dividend, increase in equity share capital and future plans approved by the company's board