Indian Hotels Dividend: Last Day To Buy Shares To Qualify — Details Here
Indian Hotel's board announced a final dividend of Rs 2.25 per share.
Shares of Indian Hotels Co. will be of interest on Friday, as the day marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
The record date determines the eligible shareholders who will receive the dividend payment. The ex-dividend date, which mostly coincides with the record date, marks when the share price adjusts to reflect the upcoming payout.
Indian Hotel's board announced a final dividend of Rs 2.25 per share. The record date to determine the shareholders eligible for the dividend payout has been fixed as June 30. The total value of the dividend to be disbursed amounts to around Rs 320 crore.
Given India's T+1 settlement cycle, shares purchased on the record date (June 30 in this case) will not be eligible for the dividend payment. Therefore, investors who own shares by June 27 will be the beneficiaries.
In comparison, the company had given a final dividend of Rs 1.75 in June 2024 and Rs 1 in June 2023.
Indian Hotel's consolidated net profit rose 25% year-on-year in the fourth quarter of the current financial year, missing analysts' estimates.
The hotel chain posted a consolidated bottom line of Rs 522 crore in the quarter-ended March. That compares with the Rs 553.4-crore consensus estimate of analysts tracked by Bloomberg.
The company's revenue climbed 27.3% year-on-year to Rs 2,425 crore, whereas the earnings before interest, taxes, depreciation and amortisation increased by 30% to Rs 857 crore. The Ebitda margin expanded to 35.3% from 34.6%.
