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Business News/ Markets / Stock Markets/  Dividend stock Man Infraconstruction declares fourth interim dividend in FY24
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Dividend stock Man Infraconstruction declares fourth interim dividend in FY24

Dividend stock 2024: Net dividend yield of Man Infrastructure in the FY24 is 2.37%

Dividend stock 2024: earlier, Man Infraconstruction has traded ex-dividend on 19th May 2023, 10th August 2023 and 17th November 2023 for payment of 18% interim dividend respectively. (Photo: Pixabay)Premium
Dividend stock 2024: earlier, Man Infraconstruction has traded ex-dividend on 19th May 2023, 10th August 2023 and 17th November 2023 for payment of 18% interim dividend respectively. (Photo: Pixabay)

Dividend stock 2024: Man Infraconstruction Ltd is one of the dividend-paying stocks of the Indian stock market that has been continuously rewarding its shareholders from its capital reserves. While declaring its Q3 results today

While announcing Q3 results 2024, the board of directors of Man Infraconstruction considered and approved the proposal for the fourth interim dividend in the current financial year. In its meeting held on Monday, the company board declared an interim dividend of 0.54 per share and fixed 15th February 2024 as the record date for finalization of the eligible shareholders for dividend payment.

Also Read: Pharma stock near 52-week high after Q3 results. Will it climb to a new peak?

Man Infraconstruction dividend 2024

The real estate company informed Indian stock market bourses about the fourth interim dividend saying, "Further to our letter dated 24th January 2024 intimating you of the Board Meeting to be held today and in accordance with the Regulation 30, 33 and 42 read with Schedule Ill and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") as amended, we hereby inform you that the Board of Directors of the Company has, inter alia Declared Fourth Interim Dividend of 0.54 per equity share (i.e. 27%) on 37,12,50,405 Equity Shares having Face Value of Rs. 2/ - each, for the Financial Year 2023-24. The Record Date for the purpose of determining the entitlement of shareholders for the said Fourth Interim Dividend has been fixed as Thursday, 15th February, 2024 and the said dividend shall be paid/ dispatched on Tuesday, 27th February, 2024."

Man Infraconstruction dividend history

As per the information available on the BSE website, the real estate company has already given interim dividends to its shareholders on three different occasions in FY24. It traded ex-dividend on 19th May 2023 for the payment of an interim dividend of 0.36 per share. Later, on 10th August 2023 and 17th November 2023, the dividend-paying stock once again traded ex-dividend for the payment of 0.36 interim dividend respectively.

Net dividend declared in FY24

So, after the announcement of the 0.54 per share interim dividend during the board meeting on Monday, the net interim dividend declared in FY24 by Man Infraconstruction Lt is 1.62 per share ( 0.36 + 0.36 + 0.36 + 0.54).

Man Infraconstruction dividend yield in FY24

Man Infraconstruction shares ended at 68.20 per share on 31st March 2023. This means the net dividend yield in FY24 by the realty company is 2.37 percent [( 1.62/ 68.20) x 100].

Man Infraconstruction Q3 results 2024

In Q3FY24, the company's dipped 47 percent YoY whereas the total income of the company in the recently ended quarter dipped 45 percent YoY. Company's Profit After Tax after Non-Controlling Interest dipped 2 percent. However, comparing the company's Profit After Tax after Non-Controlling Interest in the first nine months of the current fiscal against the previous financial year, the company has reported a rise of 33 percent.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 05 Feb 2024, 03:20 PM IST
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