Muthoot Finance approves interim dividend of Rs 22 per share

Muthoot Finance approves interim dividend of Rs 22 per share

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

FPJ Web DeskUpdated: Thursday, April 06, 2023, 04:19 PM IST
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Muthoot Finance approves interim dividend of Rs 22 per share | Image: Muthoot Finance (Representative)

The board of directors on Muthoot Finance Limited on Thursday approved payment of an interim dividend of Rs 22 per equity share, the company announced through an exchange filing. The interim dividend will be paid to shareholders within 30 days from the date of declaration. The interim dividend is 220 times the value of each share.

The shareholders whose names will appear on the close of business hours of April 18 as beneficial owners as per the list to be furnished by the depositories in respect of the shares held in electronic form and as members in the register of members of the company would receive the interim dividend.

Muthoot Finance on March 28 approved pre-payment of external commercial borrowings of $550 million.

Speaking on declaring the interim dividend of Rs. 22 per share, Mr. George Alexander Muthoot, Managing Director, Muthoot Finance said, “We are glad to announce the interim dividend today. The announcement of interim dividend reflects upon the steady business performance and positive growth outlook witnessed by the company. In this occasion, we thank our shareholders for their continued trust and support. We are witnessing improved business environment and improved collections, and there is still huge untapped potential in the gold loan sector. We remain positive on the growth outlook of our company and remain committed to reward our shareholders.”

Muthoot Finance shares

The shares of Muthoot Finance Limited on Thursday at 12:47 pm IST were at Rs 1,002.30, up by 1.27 per cent.

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