Shriram Finance announces final dividend of ₹15 per share, record date set for Aug 28

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HomeMarket NewsEarnings NewsShriram Finance announces final dividend of ₹15 per share, record date set for Aug 28

This final dividend comes in addition to the two interim dividends declared earlier in the financial year.

By Anshul April 26, 2024, 4:07:45 PM IST (Updated)

Non-banking financial company (NBFC) Shriram Finance on Friday (April 26) announced its fourth-quarter earnings for the financial year 2024. The company's board of directors has recommended a final dividend of ₹15 per equity share of nominal face value of ₹10 each fully paid up i.e. 150%, for the financial year 2023-24.

This dividend proposal is subject to approval by members in the forthcoming 45th Annual General Meeting (AGM) of the company, the NBFC said in a regulatory filing.

This final dividend comes in addition to the two interim dividends declared earlier in the financial year.

The interim dividends amounted to ₹20 and ₹10 per equity share of ₹10 each fully paid-up, totaling 200% and 100% respectively.

Consequently, the total dividend for the financial year 2023-24 stands at ₹45 per share, equivalent to 450%.

The book closure period is scheduled from July 24, 2024, to July 30, 2024, inclusive of both days.

Eligible members can expect to receive the final dividend on or before August 28, 2024, subject to the deduction of tax at source as per applicable rates for eligible shareholders, Shriram Finance said.

Meanwhile, company's profit after tax increased 48.73% year-on-year (YoY) to ₹1,946 crore in Q4 of FY24 as against ₹1,308 crores recorded in the same period of the previous year.

Its net interest income (NII) rose 20% YoY to ₹5,336 crore as against ₹4,446 crore in the same period previous year.

First Published:

Apr 26, 2024 4:06 PM

IST

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