Dividend News: Muthoot Finance declares 220% dividend, stock crosses Rs 1,000 mark after six weeks; check out record date

Dividend News: Gold finance company Muthoot Finance on Thursday declared a dividend of Rs 22 per share of face value of Rs 10 — a 220 per cent payout. The dividend announcement helped Muthoot Finance shares hold on to the green, on a day the RBI announced a status quo on key benchmark interest rates.

Muthoot Finance dividend: How the Street is reacting to the payout

Muthoot Finance shares built on intraday gains to rise by as much as Rs 28.3 — or 2.9 per cent — to Rs 1,017.7 apiece on BSE after the dividend announcement. The stock extended gains to the seventh day in a row, crossing the Rs 1,000 mark in intraday trade for the first time since February 21.  

When will the Muthoot Finance dividend be paid?

Muthoot Finance said the interim dividend will be paid to shareholders within 30 days from the date of declaration. 

Muthoot Finance dividend: What is the record date?

The company's board has set April 18 as the record date for the dividend payout. 

What is a record date and what does it imply?

A record date is the date that determines the shareholders eligible to benefit from corporate action such as a dividend payout. Simply put, investors holding the stock before the closing hours on that date will receive the dividend.  

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