Any dividend distributed throughout the course of a year during either quarterly or semi-annual financial results are commonly referred to as an interim dividend. Interim dividends have less value than final dividends, and even interim payouts require shareholder approval before being declared. In general, interim dividends attract investors by a corporation that pays dividends on a steady basis. While we're on the subject of interim dividends, shareholders of Muthoot Finance Ltd should be aware that the company's Board of Directors has announced an interim dividend of Rs. 20 (Rupees Twenty) per equity share (200 percent), with the record date scheduled for April 26, 2022.
The company has informed BSE that "The Board of Directors of Muthoot Finance Limited at their meeting held today at the registered office of the Company has considered and approved payment of an interim dividend of Rs. 20 (Rupees Twenty) per equity share (200%)."
"Shareholders whose names appear as on close of business hours of April 26, 2022 (a) as Beneficial owners as per the list to be furnished by the Depositories in respect of the shares held in electronic form and (b) as Members in the Register of Members of the Company in respect of shares held in physical form, would be entitled to receive the interim dividend. The interim dividend will be paid to the shareholders within 30 days from the date of declaration," the company has further clarified.
Muthoot Finance's shares ended Monday's trading session with a drop of -15.65 percent (1.17 percent) and stood at a price of Rs 1,320.40 on the BSE. In the previous year, the stock has risen 15.42 percent, but on a year-to-date (YTD) basis, it has decreased by -14.30 percent. The stock has declined -14.97 percent in the last six months and -2.50 percent in the last month. According to the NSE, the stock reached its 52-week high of Rs 1,721.95 on 15-Nov-21 and its 52-week low of Rs 1,121.00 on 22-April-21, and it is presently trading 17 percent above its 52-week low and 23% near to its 52-week high with a market price of Rs 1,320.