In its regulatory filing, Manappuram Finance announced that the board of directors has declared an interim dividend of ₹0.75 per equity share having a face value of ₹2 each.
Also, the company fixed August 18 as the record date to ascertain the entitlement of interim dividends among the shareholders.
That said, the company's shares will turn ex-dividend on the day before the record date.
The ex-dividend date for a stock is the business day before the record date of declaring eligible shareholders for the payout. This also means that investors who buy the stock on the ex-dividend date or later will not be eligible for dividends announced for a particular fiscal by the company.
The company said dividend/dividend warrants "shall be paid or dispatched on or before September 2, 2022."
Generally, when a company earns profit they share a portion of the surplus with shareholders who have a portion of their stocks and that is called a "dividend".
As per the BSE FAQs, the company provides the facility of direct credit of the Dividend to the member’s bank account. Listing Regulations also mandate Companies to credit the Dividend to the members electronically. Members are therefore urged to avail of this facility to ensure safe and speedy credit of their dividend into their Bank account.
On BSE, Manappuram Finance shares closed at ₹101.65 apiece down by 0.29% today. The shares have touched an intraday high and low of ₹103.85 apiece and ₹99.10 apiece respectively.
The company's market valuation is at ₹8,603.60 crore.
During Q1FY23, Manappuram Finance posted a consolidated net profit of ₹281.92 crore against ₹436.85 crore in Q1FY22 and ₹260.95 crore in Q4FY22. Consolidated revenue from operations stood at ₹1,502.73 crore compared to ₹1,563.30 crore in Q1 of last year and ₹1,481.35 crore in the preceding quarter.
On a standalone basis, the company's net profit of ₹290.12 crore in Q1FY23 against ₹425.21 crore in Q1FY22 and ₹265.27 crore in Q4FY22. Interest income stood at ₹1,091.11 crore in the quarter. Revenue from operations was at ₹1,109.90 crore in Q1FY23 compared to ₹1,237.51 crore in Q1FY22 and ₹1,054.73 crore in Q4FY22.
