The board of directors of Shriram Finance on Friday, April 26, recommended a final dividend of Rs 20 per equity share for FY24 with a face value of Rs 10, according to a stock market disclosure.

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"Recommended a final dividend of Rs.15/- per equity share of the face value of Rs.10/- each fully paid-up (i.e. 150%) for the financial year ended March 31, 2024, subject to the approval of Members at the ensuing 45th AGM. This is in addition to the two Interim Dividends for the financial year 2023-24 declared by the Company - the first Interim Dividend of Rs.20/- per equity share of Rs.10/- each fully paid-up (200%) declared on October 26, 2023 and the second Interim Dividend of Rs.10/- per equity share of Rs.10/- each fully paid-up (100%) declared on January 25, 2024. With this the total dividend for the financial year 2023-24 will be Rs.45/- per share (i.e.450%)," the company's board of directors said in a BSE filing.

Simultaneously, the NBFC has also posted its financial results for the fourth quarter ended on March 31, 2024. The company's consolidated net profit increased by 22.27 per cent to Rs 5,543 crore in Q4FY24 from Rs 4,533.63 crore in Q4FY23. Its net interest income for the fourth quarter ended 31st March 2024 increased by 22.27 per cent to Rs 5,543.47 crore as against Rs 4,533.63 crore in the same period of the previous year. 

Meanwhile, shares of Shriram Finance closed trading at Rs 2,502.00 each, up 0.34 per cent on BSE today.