UltraTech Cement Nearly Doubles Dividend To Record Rs 70 Per Share

UltraTech Cement Ltd. has announced a final dividend of Rs 70 per equity share for the financial year 2024, pending approval from shareholders at the ensuing annual general meeting. This is nearly double the dividend announced by the company in the last two years.

The date of the annual general meeting and book closure will be announced later, the company said in an exchange filing on Monday. The company announced a distribution of Rs 2,020 crore to unitholders in the fourth quarter of the previous fiscal.

In comparison, the company paid a total dividend of Rs 38 in the last two financial years. On Aug. 2, 2021, it paid a dividend of Rs 37. The company, in total, has paid 16 dividends since its listing in 2008.

• Revenue up 9.41% at Rs 20,418.9 crore. (Bloomberg estimate: Rs 20,084.3 crore).

• Ebitda rises 23.81% to Rs 4,113.9 crore. (Bloomberg estimate: Rs 3,815.2 crore).

• Margin at 20.14% vs 17.8% (Bloomberg estimate: 19%).

• Net profit up 35.23% at Rs 2,258.6 crore. (Bloomberg estimate: Rs 2,122.7 crore).