Motilal Oswal Fixes Record Date For 300% Dividend, Promoters Stake Up In Q4

Motilal Oswal Financial Services Ltd is a mid cap stock broking company that recorded a market cap of Rs 10,461.34 Cr on Friday's closing session. For the purpose of a 300% dividend, the Board of Directors of the company have announced a record date.
The Board of Directors made a "Recommendation of Final Dividend on the Equity Shares of the Company for the financial year 2022-23 at the rate of Rs. 3/- per Equity Share of the face value of Re. 1/- each, out of the profits. The dividend, if approved by the members of the Company at the ensuing Annual General Meeting ("AGM"), will be paid within 30 days from the date of AGM," said Motilal Oswal in a stock exchange filing.

"The Company has fixed Tuesday, July 04, 2023 as the Record Date for the purpose of determining entitlement of the Members to Final Dividend for the Financial Year 2022-23, if approved, at the AGM," said Motilal Oswal in a stock exchange filing.
The shareholders should note that the 18th Annual General Meeting ("AGM") of the Members of Motilal Oswal Financial Services Limited will be held on Tuesday, July 11, 2023.

Motilal Oswal's consolidated net profit is down about 45 percent to Rs 165 crore in Q4FY23 against Rs 299 crore in Q4FY22. The company's revenue from operations for the March 2023 quarter was Rs 1,027.37 crore, a decrease of 2.28% from Rs 1,051.31 crore for the corresponding quarter in the previous year. From Rs. 20.35 in March 2022 to Rs. 11.35 in March 2023, Motilal Oswal's EPS has fallen.

On Friday, the shares of Motilal Oswal closed on the NSE at Rs 707.05 apiece up by 3.46% from the previous close of Rs 683.40. The stock touched a 52-week-high of Rs 823.85 on (13-Sep-2022) and a 52-week-low of Rs 551.25 on (27-Mar-2023).

During Q4FY23, the company recorded promoters shareholding of 69.68%, FIIs stake of 6.47%, DIIs stake of 6.28%, and a public stake of 17.58%. As per the data of Trendlyne, promoters shareholding of Motilal Oswal have climbed from 69.47% to 69.68% in March 2023 quarter, FII/FPI stake plummeted from 7.35% December 2022 quarter to 6.47% in March 2023 quarter, mutual funds stake grew from 5.89% to 6.19% and institutional investors have decreased their stake from 13.30% in Q3FY23 to 12.75% in Q4FY23.