Anand Rathi Wealth declares final dividend; check out payout amount here
Anand Rathi Wealth Dividend Stock News: Anand Rathi Wealths board gave the nod to a final dividend of Rs 9 per share for the financial year 2023-24.
Anand Rathi Wealth Dividend Stock News: Brokerage Anand Rathi Wealth on Friday announced a final dividend for the financial year 2023-24. The dividend of Rs 9 per equity share of Rs 5 each is subject to shareholders' approval at its ensuing annual general meeting.
The latest dividend takes the financial services comapny's total dividends for FY24 to Rs 14 per share.
Anand Rathi Wealth Dividend: When will it be paid?
The company said the dividend, if approved by members, will be paid within 30 days from the date of the AGM.
Earlier on Friday, Anand Rathi Wealth shares ended 2.7 per cent stronger at Rs 4,014.1 apiece on BSE.
Anand Rathi Wealth Q4 Results
Anand Rathi Wealth also reported its financial results for the January-March period.
The company clocked a 32.8 per cent year-on-year jump in consolidated net profit to Rs 56.6 crore for the fourth and final quarter of the financial year 2023-24, over 34 per cent growth in consolidated revenue to Rs 197.2 crore, according to a regulatory filing. Read more on Anand Rathi Wealth Q4 results
Earlier in the day, the stock ended 2.7 per cent higher at Rs 4,014.1 apiece on BSE.
What is a share dividend?
A dividend is a distribution of a portion of a company's earnings to its shareholders. In other words, companies provide dividends as a way to share their profits with shareholders.
It is by offering dividends that companies reward shareholders for investing in their business and provide an incentive to hold onto their stock. This practice also helps attract new investors seeking stable returns on their investments.
Companies give dividends to demonstrate financial stability and confidence in their future growth prospects. Dividends can also serve as a signal to the market that a company is performing well and generating consistent profits. Dividends can also contribute to a steady income stream for investors, especially those looking for passive income or retirement planning.
Dividends play a crucial role in the financial ecosystem by fostering investor confidence, attracting new shareholders, and providing a reliable income source.
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