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Shares of Bharti Airtel rose nearly 2% higher on the BSE in Monday's trading session as the stock started trading ex-dividend, a day ahead of the record date for its final dividend for the financial year ended March 31, 2022.

The telecom operator has fixed Tuesday, August 02, 2022 as the 'Record Date' for determining entitlement of members to final dividend for the financial year ended March 31, 2022 (Final Dividend). While announcing its Q4FY22 earnings, the company said its board also recommended a dividend, for the financial year 2021-22.

The final dividend of 3 per fully paid-up equity share of face value 5/- each and of 0. 75/- per partly paid up equity share of face value 5/- each (paid-up value 1.25 per share) as recommended by the board. A dividend means the distribution of surplus from the profits by a listed company to its shareholders.

The dividend, if approved at the AGM, will be paid to the members within 30 days from the date of approval to those members/beneficial owners whose names appear in the Register of members/depository records as at close of business hours on Tuesday, August 02, 2022. The 27th Annual General Meeting (AGM) of the Bharti Airtel will be held on Friday, August 12, 2022.

For the fourth quarter ended March 2022 (Q4FY22), India's second-largest telecom operator posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to 2,008 crore, buoyed by a lift in average revenue per user (ARPU) and an exceptional gain.

Meanwhile, India's first-ever auction for 5G spectrum entered the seventh day on Monday with players including Jio and Airtel being locked in an intense bidding for coveted 1800 Mhz frequencies mainly for the UP East circle.

Billionaire Mukesh Ambani's Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea and a unit of billionaire Gautam Adani's flagship Adani Enterprises are in the race to bid for the 5G spectrum, which offers speeds about 10 times faster than 4G, lag-free connectivity and can enable billions of connected devices to share data in real-time.

 

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