Paint maker fixes record date for interim dividend

Asian Paints dividend record date 2023: Asian Paints has confirmed November 3 as the record date for its first interim dividend this financial year. The paint major rewarded its shareholders with total dividends of Rs 25.65 per share in the financial year 2022-23, translating to a payout of 2,565per cent.

Asian Paints Q2 results and dividend announcement dates

According to a regulatory filing last week, Asian Paints’ board is scheduled to meet on October 26 to consider:

1. Audited standalone and unaudited consolidated financial results for the quarter and half-year ending 30th September, 2023;

2. The declaration of an interim dividend, if any, for the financial year ending March 31, 2024 (2023-24).

On Monday, the Asian Paints stock finished stronger by 0.3 per cent at Rs 3,205.5 apiece on BSE. According to stock analysis portal Trendlyne, the company has declared 49 dividends since October 16, 2000. In last 12 months, Asian Paints has announced total dividend amounting to Rs 25.65 per equity share. At the current share price of Rs 3206.30, this translated into a dividend yield of 0.80 per cent.

How Asian Paints performed in Q1

For the first quarter of FY24, Asian Paints reported a 52.5 per cent year-on-year jump in consolidated net profit to Rs 1,550.4 crore, beating analysts' estimates. Its quarterly revenue grew to Rs 9,182.3 crore from Rs 8,606.9 crore a year ago, according to a regulatory filing.

Asian Paints' margin — a key measure of profitability — improved by 510 basis points on a year-on-year basis to 23.2 per cent. Asian Paints recorded significant improvement in margins, both sequentially as well as on a year‐on‐year basis, aided by strong efforts on driving operational, formulation and sourcing efficiencies and supported by easing inflation in raw material prices.

Asian Paints shares: Past performance

Asian Paints share have rewarded investors with a return of nearly 150 per cent in last five years, outperforming an 80.7 per cent rise in the headline Nifty index.

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