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  4. Reliance Industries to TCS: These NIFTY50 companies declared bumper dividend in FY24

Reliance Industries to TCS: These NIFTY50 companies declared bumper dividend in FY24

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4 min read • Updated: May 3, 2024, 3:59 PM

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Summary

Explore the latest dividend declarations from top NIFTY50 companies, including Reliance Industries, TCS, Infosys, HDFC Bank, and more. These firms have announced significant dividend payouts for FY24, ranging from 100% to 2800%, showcasing their commitment to shareholders. From IT giants to financial institutions, discover how these dividends reflect the financial health and shareholder value strategies of India's leading companies.

Dividend bonanza: NIFTY50 giants declare up to 2800% payouts
Dividend bonanza: NIFTY50 giants declare up to 2800% payouts

The Q4 earnings reports released by the NIFTY50 companies so far have been a mixed bag. While IT companies have reported challenging environments and reduced spendings by clients, other companies have highlighted cost pressures.

However, the NIFTY50 constituents have also announced handsome final dividend payments to shareholders to distribute their wealth and support the share prices. Here are the 10 NIFTY companies that have announced final dividends of up to 2,800% along with their financial results for the March quarter and FY 2023-24.

For the unversed, companies announce dividends on the face value of equity shares and not on the prevailing market price. A portion of the annual profit of a company is distributed among the shareholders as dividend.

Reliance Industries announces ₹10 per share dividend for FY24

India’s most valuable company Reliance Industries announced a dividend of ₹10 per share or 100% for the year ending March 2024. RIL has a good track record of dividend payments and has declared payouts in the last five years.

TCS announces final dividend of ₹28 per share

India’s largest IT services provider TCS has announced a final dividend of ₹28 per equity share of ₹1 each (2,800%). The dividend will be paid on the fourth day from the conclusion of the 29th Annual General Meeting, subject to approval of the shareholders of the Company.

Infosys declares final dividend of ₹20 per share, special payout of ₹8/share

The second largest Indian IT services provider in the country, Infosys Ltd also announced a final dividend of ₹20 per share and a special dividend of ₹8 per share for the financial year ended in March 2024. Earlier it had announced an interim dividend of ₹18 per share, taking total payout in FY24 to ₹24 apiece.

HDFC Bank declares 1950% dividend

HDFC Bank board has recommended a dividend of ₹19.5 per equity share of ₹1 each (1,950%) for the year ended March 31, 2024. The record date for determining the eligibility of members entitled to receive dividend is Friday, May 10, 2024.

Bajaj Auto declares 800% dividend payout

The board of Bajaj Auto Ltd has recommended a dividend at the rate ₹80 per share (800%) of face value of ₹ 10 each on equity shares for the financial year ended March 31, 2024. The dividend, if approved by the shareholders, will be credited on or around July 19, 2024.

The Record date is Friday, June 14, 2024.

Adani Ports & SEZ declares 300% dividend

Adani Ports and Special Economic Zone Ltd has declared a dividend of ₹6 per share (300%) per equity share of ₹2 each for the financial year 2023-24, subject to the approval of shareholders at the ensuing AGM.

The company has fixed the record date as June 14, 2024, for the purpose of determining entitlement of the members of the company to receive dividend payment.

UltraTech Cement declares 700% dividend

India’s largest cement maker UltraTech Cement has proposed a dividend of 700% at the rate of ₹70 per equity share of ₹10 each for the year ended March 31, 2024.

HCL Tech declares 900% dividend

The board of HCL Technologies has declared an interim dividend of ₹18 per equity share of ₹2 each (900%) for the financial year 2024-25.

The record date is May 7, 2024 for the payment of the interim dividend. The payment date shall be May 15, 2024.

Shriram Finance declares 150% dividend

NBFC Shriram Finance has recommended a final dividend of ₹15 per equity share of face value of ₹10 each (150%) for the financial year ended March 31, 2024.

This is in addition to the two interim dividends for the financial year 2023-24 declared by the company. The first interim dividend of ₹20 per equity share of ₹10 each fully paid-up (200%) was declared on October 26, 2023. The second interim dividend of ₹10 per equity share of ₹10 each fully paid-up (100%) declared on January 25, 2024. The total dividend for FY24 will be ₹45 per share (450%).

Adani Enterprises

The board of Adani Enterprises has recommended a dividend of ₹1.30 (130%) per equity share of face value of ₹1 each for the Financial Year 2023-24. The record date is June 14, 2024, for the determining entitlement of the members of the company to receive dividend.