When the stock market opens today, investors will have their eyes on a group of prominent companies that have recently declared interim and final dividends. Coal India Ltd, E.I.D.-Parry (India) Ltd, EPL Ltd, Gillette India Ltd, Gujarat Pipavav Port Ltd, National Peroxide Ltd, Oil and Natural Gas Corporation Ltd, RMC Switchgears Ltd, Senco Gold Ltd, Sun TV Network Ltd, Talbros Engineering Ltd, and Tide Water Oil (India) Ltd are among the companies that have decided to reward their eligible shareholders.
Coal India, the state-owned mining company, announced an interim dividend of ₹15.25 per share after reporting a 12.5% increase in consolidated net profit for the September quarter. Gujarat Pipavav Port also declared an interim dividend of ₹3.60 per share following its 51% rise in consolidated net profit.
Oil and Natural Gas Corporation (ONGC) decided to distribute an interim dividend of ₹5.75 per share. Despite a 20% drop in net profit for the September quarter, ONGC remains committed to delivering value to its shareholders. Similarly, Sun TV Network declared an interim dividend of ₹5 per share after recording a 14.05% increase in consolidated profit after tax.
E.I.D.-Parry (India), Talbros Engineering, and Tide Water Oil (India) also joined the list of companies distributing interim dividends. Each company rewarded its eligible shareholders with dividends per share of ₹4, ₹1.50, and ₹20, respectively.
Additionally, EPL Ltd, RMC Switchgears, and Senco Gold announced interim dividends of ₹2.15, ₹0.20, and ₹1 per share, respectively.
On the flip side, Gillette India revealed a final dividend of ₹50 per share after a 6.81% increase in net profit for the quarter ended September 30, 2023. National Peroxide concluded the list with a final dividend of ₹1 per share despite a decline in net profit.
These announcements highlight the commitment of these companies to shareholder value and their positive financial performance. Investors should always exercise caution and consult certified experts before making any investment decisions.
FAQ
Q: What are interim and final dividends?
Interim dividends are dividends declared and paid out by a company during its financial year. Final dividends, on the other hand, are dividends declared and paid out at the end of the financial year.
Q: Why do companies distribute dividends?
Companies distribute dividends as a way to reward their shareholders and distribute profits. Dividends provide income to shareholders and are a way for companies to share their financial success.
Q: How are dividend amounts determined?
The amount of dividends is typically determined by the company’s board of directors based on various factors, including the company’s financial performance, profitability, and available cash flow.
Q: Are dividends guaranteed?
Dividends are not guaranteed. They are subject to the company’s financial performance and the board of directors’ decision to declare and distribute dividends.