1 Large Cap & 1 Mid Cap Realty Stock Sets Record Date For Dividend: Do You Own Any?

DLF and Brigade Enterprises are two realty companies that are going to pay FY23 dividends soon. The large-cap company DLF has announced record date for 200% dividend while mid-cap company Brigade Enterprises has announced record date for a 20% dividend for FY23. The details are as follows.

DLF

"The Board of Directors have recommended dividend of Rs 4/- per equity share of the face value of Rs 2/- each for FY 2022-23, subject to approval of the shareholders at the ensuing Annual General Meeting to be held on Friday, 4 August 2023. Pursuant to Regulation 42 of SEBI LODR, the Company has fixed Friday, 28 July 2023 as the 'Record Date' for determining entitlement of shareholders for payment of dividend for FY 2022-23. The dividend will be paid/ dispatched to the shareholders on or before Saturday, 2 September 2023, if approved by the shareholders and subject to deduction of tax at source at applicable rates," said DLF In a stock exchange filing.

DLF has announced an equity dividend of 200.00% at a face value of Rs 2, or Rs 4 per share, for the financial year ended March 2023. This generates a dividend yield at the current share price of Rs 494.75 of 0.81%. The company has a solid track record of dividend declarations during the past five years. Since September 18, 2007, DLF Ltd. has issued 19 dividends, according to statistics from Trendlyne.

Consolidated revenue from operations for the firm was Rs 1,456.06 Cr in Q4FY23, a 5.90% YoY decline from Rs 1,547.26 Cr in Q4FY22. While its revenue in FY23 was Rs 5,694.83 Cr as opposed to Rs 5,717.39 Cr in FY22. DLF said that its net profit for the quarter ended March 2023 was Rs 570.01 Cr, jumping 40.62% YoY from Rs 405.33 Cr in the corresponding period of FY22. While its net profit for the fiscal year FY23 was Rs 2,035.83 Cr as opposed to Rs 1,500.86 Cr in FY22.

While writing this copy the shares of DLF were trading at Rs 494.55 apiece. The stock made a 52-week-high of Rs 517.50 on (06/07/2023) and a 52-week-low of Rs 336.55 on (14/03/2023). During Q1FY24, the company reported promoter shareholding of 74.95%, FIIs stake of 15.30%, DIIs stake of 4.87% and public stake of 4.88%.

The Q1FY24 result of DLF has not been made public yet.

Brigade Enterprises

"Record Date has been fixed as Monday, 31st July, 2023 to determine the entitlement of Members to receive the final dividend of Rs. 2/- (20%) per equity share on the face value of Rs. 10/- each for the financial year 2022-2023. The final dividend, if declared in the AGM, will be paid on or before Saturday, 2nd September, 2023, subject to deduction of applicable tax at source," said Brigade Enterprises in a stock exchange filing on Thursday.

In comparison to a net loss of Rs. 11.63 crore in Q4FY22, Brigade Enterprises recorded a net consolidated profit after tax of Rs. 63.09 crore in Q4FY23. The company's net consolidated total income for the fourth quarter of FY23 was Rs 872.11 crore, down 9.60 per cent from the Rs 964.72 crore it earned in the same quarter of FY22.

While writing this copy the shares of Brigade Enterprises were trading at Rs 580.45 apiece on the BSE with a market cap of Rs 13,396.35 Cr. The stock made a 52-week-high of Rs 607.95 on (19/06/2023) and a 52-week-low of Rs 430.95 on (13/01/2023).