Bluechip Stock Sets Record Date For Rs 24 Dividend, LIC Held Stake In Q4: Do You Own?

A bluechip stock that operates in the construction industry is Larsen Toubro Ltd. One of the largest and most reputable businesses in India's private sector is Larsen & Toubro Limited, which has its headquarters in Mumbai. The firm operates in the fields of technology, engineering, construction, and manufacturing, and it consistently has a leadership position in each of these key business areas. "We wish to inform you that the Company has fixed Wednesday,2nd August 2023 as the Record Date to determine the Members entitled to receive the proposed Final Dividend of Rs. 24.00 per share of the face value Rs. 2/- each for the year ended 31st March 2023.

The Company has also fixed Wednesday, August 2, 2023, as the Cut-off Date for the purpose of determining the Members eligible for e-voting on the resolutions set out in the Notice of AGM. The AGM of the Company for FY 2022-23 is scheduled to be held on Wednesday, 9 th August 2023, physically, at Birla Matushri Sabhagar, 19, Marine Lines, Mumbai - 400 020, at 3.00 p.m. Dividend, if declared at the AGM, will be paid on or before Monday, 14th August 2023," said Larsen Toubro in a stock exchange filing.

Consolidated net profit for the company was Rs 3,987 crore in Q4FY23, while revenue for the period was Rs 58,335 crore. The PAT and revenue for the quarter ended in March 2022 were Rs 3,621 crore and Rs 52,851 crore, respectively. EBITDA, however, grew by 5% to Rs 6,833 crore in Q4 FY23 from Rs 6,517 crore in Q4 FY22. Overall, the company's PAT grew significantly in FY23, rising by 21% YoY to Rs 10,471 Cr. The total revenue for the entire fiscal year FY23 climbed 17% YoY to Rs 183,341 crore.

Larsen & Toubro has announced an equity dividend of 1200.00%, or Rs 24 per share, for the fiscal year ended March 2023. This generates a dividend yield at the current share price of Rs 2,325.75 of 1.04%. The company has a solid track record of dividend declarations during the past five years. Larsen & Toubro Ltd. has issued 27 dividends since June 21, 2001, according to data from Trendlyne. Larsen & Toubro Ltd. declared an equity dividend worth Rs 22 per share over the past 12 months.

During Q4FY23, the company reported FIIs stake of 24.48%, DIIs stake of 38.64%, Govt stake of 0.23% and public stake of 36.65%. As per the shareholding pattern of Larsen Toubro Ltd for January to March 2023 quarter, insurance giant LIC held 16,04,73,308 fully paid up equity shares or 11.56% stake in the company.