Share India Securities announces 20% dividend payout - Check record date

Share India Securities, a tech-based financial services provider, has announced to pay dividend to its shareholders. The company made the announcement regarding the dividend payment in its first quarter results. The dividend payout stands at 20 per cent per equity share.

The first interim dividend of 20 per cent for the financial year 2023-24 translates into Rs 2 per share having a face value of Rs 10 each.

"Declaration of the first interim dividend of Rs 2 per equity share having face value of Rs 10 each for the financial year 2023-24," the company said in a statement on BSE.

The BSE small-cap company has also fixed the record date for ascertaining the eligibility of shareholders for their participation in the corporate action.

"Wednesday, August 02, 2023 is being fixed as the Record Date for the purpose of payment of 1st Interim Dividend," the statement added.

The dividend will be paid to shareholders on or before August 9, according to the statement. The dividend amount will be deposited directly into the bank account of eligible shareholders.

Share India Securities in the first quarter of FY2023-24 reported a jump of 39 per cent in net profit at Rs 82 crore. The company's net profit in the corresponding period last financial year was Rs 58 crore. 

The total revenue in the quarter came in at Rs 278 crore, up 19 per cent from the first quarter of FY2023 when it was Rs 233 crore.

"Revenue in the quarter was primarily driven by growth in share broking business/trading activity and improved focus on customer retention by offering various products like utrade algo’s and MTF," the management said in a statement.

The management is confident that its strategic initiatives and strong financial performance will continue to create sustainable value for all partners and stakeholders.