2 Stocks To Pay Rs 2.50/Share Interim Dividend Soon In FY24: Do You Own Any?

The two firms that will soon provide an interim dividend to their shareholders are Kirloskar Pneumatic Company and CMS Info Systems. For the purpose of determining the shareholders' eligibility, the record date has been finalised for both firms, which have announced a dividend of Ra 2.50 per share for FY24. A brief discussion of the dividend's details is provided below.

Kirloskar Pneumatic Company Dividend

"The Board of Directors at the said Meeting also declared an interim Dividend of Rs. 2.50 (125%) per equity share of Rs. 2/-each for the Financial Year 2023-24 which shall be paid through National Electronic Clearing System (NECS) or vide dividend warrants, as the case may be. The record date to determine the eligibility for payment of the aforesaid interim dividend is fixed as Tuesday, February 6, 2024 and the interim dividend declared in the Board Meeting held on January 24, 2024 will be paid on or before February 21, 2024," said Kirloskar Pneumatic Company in a regulatory filing.

Compared to Rs 312.2 crore in the same quarter last year, Q3FY24 revenue from operations came in at Rs 308.5 crore. EBIDTA for the third quarter of the current fiscal (Q3) is at Rs 56.2 crore against Rs 52.1 crore in Q3 of the previous year. According to the firm, its Q3FY24 net profit of Rs. 34.94 crore was higher than its Q3FY23 net profit of Rs. 32.85 crore by 6.36%. Kirloskar Pneumatic Company EPS has increased to Rs. 5.40 in the quarter under review from Rs. 5.09 in the year-ago quarter.

CMS Info Systems

"Pursuant to Regulation 30, 42 and 43 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors has declared an interim dividend of Rs. 2.50/- per equity share of face value of Rs. 10/- each fully paid up and the said interim dividend will be paid on or before February 22, 2024. Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, the Board of Directors has fixed Tuesday, February 6, 2024 as the "Record Date" for the purpose of payment of Interim Dividend.

Accordingly, members whose name appear as on close of business hours as on February 6, 2024 (a) as beneficial owners as per the details furnished by the Depositories in respect of shares held in electronic form and (b) as members in the Register of Members will be entitled for the interim dividend pay-out proportionate to their shareholding as on that date," said CMS Info Systems in a stock exchange filing.

For the October-December quarter of FY24, CMS Info Systems reported a 14.91 per cent year-on-year (YoY) rise in its consolidated profit after tax (PAT), to Rs 87 crore, from Rs 75.8 crore in the same period the previous year. Comparing the consolidated revenue for the reporting quarter to the same quarter last year, which was Rs 488.3 crore, the YoY growth was 19% to Rs 582 crore in the quarter under review. In comparison to the same quarter last year, when earnings per share (EPS) was Rs 4.92, it climbed to Rs 5.56 for the December 2023 quarter. EBITDA increased by 29.13% from Rs. 124.29 crore in Q3FY23 to Rs. 160.49 crore in Q3FY24.