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Business News/ Markets / Stock Markets/  Edelweiss Financial Services declares dividend, scrip trading at a dividend yield of 2.80%
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Edelweiss Financial Services declares dividend, scrip trading at a dividend yield of 2.80%

Edelweiss Financial Services Ltd is a small-cap company that recorded a market cap of ₹4,848.48 Cr on Wednesday.

Edelweiss offers a wide selection of financial products and services.Premium
Edelweiss offers a wide selection of financial products and services.

Edelweiss Financial Services Ltd is a small-cap company that recorded a market cap of 4,848.48 Cr on Wednesday. A prominent provider of varied financial services in India, Edelweiss offers a wide selection of financial products and services. One of India's top financial services companies, Edelweiss serves a clientele of more than 2.1 million individuals through a network of more than 300 locations and a workforce of over 8,500 people.

“The Board of Directors of the Company (the Board), at its meeting held today has inter alia approved the:- i) declaration of interim dividend of Re. 0.25 per share on the equity share of the face value of Re. 1 each for the financial year ending March 31, 2023. ii) Further, in accordance with the provisions of Regulation 42 of the Listing Regulations, the Board has fixed April 13, 2023 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend. The interim dividend will be paid within the stipulated timelines as prescribed under law; and iii) raising of funds by way of public issue of Non-convertible Debentures for an amount not exceeding Rs. 1,500 crores, in one or more tranches," said Edelweiss Financial Services in a stock exchange filing.

Edelweiss Financial Services has announced an equity dividend of 145.00% at a face value of 1, or 1.45 per share, for the fiscal year that ended in March 2022, or FY22. The dividend yield at the current share price of Rs. 51.75 is 2.80%. As per the data of Trendlyne, Edelweiss Financial Services Ltd. has declared 26 dividends since July 2, 2008.

During the quarter ended December 2022 or Q3FY23, the company recorded a net income of 2,141.61 Cr compared to 1,887.29 Cr recorded during the quarter ended December 2021 or Q3FY22. During Q3FY23, Edelweiss Financial Services recorded net expenses of 1,394.79 Cr compared to 1,078.67 Cr recorded during Q3FY22 and its EBIT stood at 746.82 Cr during Q3FY23 as against 808.62 Cr in Q3FY22. The company said its net profit reached 101.26 Cr in Q3FY23 compared to 70.96 Cr during Q3FY22 and its EPS stood at 1.13 compared to 0.79 during the year-ago quarter.

The shares of Edelweiss Financial Services closed on the NSE on Wednesday at 51.75 up by 2.27% from the previous close of 50.60. The stock recorded a 52-week-high of 77.40 on (18-Jan-2023) and a 52-week-low of 49.40 on (20-Jun-2022). 

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 30 Mar 2023, 03:18 PM IST
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