Bajaj Finance declares final dividend of 1500% for FY23, to pay ₹30 per share in July. Key highlights here
- For determining eligible shareholders for the dividend benefits, the company has fixed June 30, 2023, as the record date. The ex-dividend date is the same as the record date. The company plans to pay the said dividend by July-end.
Investors of Bajaj Finance are in for a treat as the NBFC giant has declared a final dividend for the fiscal year FY23. The company is set to pay a 1500% dividend aggregating to ₹30 per share in July. To determine eligible shareholders, the company has also fixed the record date.
As per the regulatory filing, Bajaj Finance's board of directors has recommended a dividend on equity shares at the rate of ₹30 per share (1500%) of a face value of ₹2 each. for the financial year ending 31 March 2023.
For determining eligible shareholders for the dividend benefits, the company has fixed June 30, 2023, as the record date. The ex-dividend date is the same as the record date.
Further, Bajaj Finance stated that the dividend, "if declared, by the shareholders at the ensuing Annual General Meeting, will be credited/dispatched on or about 28 July 2023 or 29 July 2023."
Generally, the record date for dividends is the day which is also proposed by the company's board to identify the names of eligible shareholders for dividend benefits. All the shareholders whose name appears in the company's list by the end of the record date will be eligible to receive dividends.
Meanwhile, the ex-dividend date means the day the price of the equity shares of a company gets adjusted for the dividend payout. Further, the payment date is the day when the dividends are dispatched by the respective company.
Generally, dividends are a form of incentive that is distributed by a listed company from their profits to shareholders.
Bajaj Finance registered strong growth in its Q4 earnings which was also announced on Wednesday.
In Q4FY23, the company's consolidated net profit stood at ₹3,157.79 crore up by 30.51% YoY and 6.21% QoQ. Net interest income (NII) for the quarter under review increased by 28% to ₹7,771 crore from ₹6,061 crore in Q4FY22.
For the entire fiscal FY23, on a consolidated basis, PAT stood at ₹11,508 crore from ₹7,028 crore in FY22, recording a growth of a whopping 64%. Net interest income for FY23 increased by 32% to ₹28,846 crore from ₹21,894 crore in FY22.
In the previous fiscal FY22, the company paid a dividend of ₹20 per share or 1000% to its shareholders.
On BSE, Bajaj Finance's share price closed at ₹6054.80 apiece down by 0.4% from the previous session's print. The company's market cap is over ₹3.66 lakh crore.
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