Considering investing in dividend yield stocks is one of the best methods to build wealth and receive a constant stream of income being less vulnerable to market turbulence, generating inflation-beating returns over time, it's important to remain updated on corporate actions, whether they're coming up or have already been announced. As a consequence, we've compiled a list of four corporate actions announced today with declared dividend recommendations.
HDFC Ltd today announced a standalone net profit of Rs 3,700 crore for the March quarter, up 16 per cent from the previous year's figure of Rs 3,180 crore whereas consolidated net profit increased by 21.6 per cent to Rs 6,892 crore in Q4 FY22, compared to Rs 5,669 crore in Q4 FY21. Total income for the March 2022 quarter jumped to Rs 12,308.46 crore from Rs 11,707.53 crore the previous quarter, while net profit for the full year 2021-22 climbed to Rs 13,742 crore from Rs 12,027 crore the previous year, the company has reported in a regulatory filing.
The Corporation's Board of Directors met today, May 2, 2022, and proposed a dividend of Rs 30 per equity share with a face value of Rs 2 for the fiscal year 2021-22. The record date for determining the shareholders entitled to the dividend for the fiscal year 2021-2022, as authorised by the board, is Wednesday, June 1, 2022, and the dividend payment date for FY 2021-2022 is Friday, July 1, 2022 onwards.
Shakti Pumps India Ltd
Shakti Pumps India Ltd today released its financial results for the quarter and year ended March 31, 2022, reporting a consolidated sales increase of 20.29 per cent to Rs 384.58 crore in the quarter ended March 2022, compared to Rs 319.71 crore in the preceding quarter ended March 2021. In the quarter ended March 2022, the firm recorded a decrease in net profit of 27.97 per cent to Rs 21.96 crore, compared to Rs 30.49 crore in the preceding quarter ended March 2021. In the fiscal year ended March 2022, net profit fell 14.19 per cent to Rs 64.81 crore, compared to Rs 75.58 crore in the preceding fiscal year ending March 2021.
"The Board has recommended dividend of Rs. 2/- Per Equity Shares of face value of Rs. 10/- each (i.e. 20%) for the year ended 31st March 2022, subject to approval of shareholders in the ensuing Annual General Meeting (AGM) of the company," Shakti Pumps has said by informing BSE.
Meghmani Organics Limited
Meghmani Organics' consolidated sales revenues for the Mar-22 quarter increased by 75% year on year to Rs 811.81 crore, up from Rs 463.10 crore in the Mar-21 quarter. In the March-22 quarter, net profit increased by 183 per cent to Rs 102.21 crore, compared to Rs 36.03 crore in the March-21 quarter. The financial results have been announced today by the company along with a recommendation for a final dividend.
"We wish to inform you that the Board of Directors of the Company at its meeting held on May 2, 2022 has recommended a final Dividend of Rs. 1.40 (140%) per equity share having face value of Rs. 1/- each for the financial year ended on March 31, 2022 subject to the approval of Shareholders in the ensuing Annual General Meeting which will be paid within statutory time limit after approval of Shareholders," the company has said in an exchange filing today.
Olectra Greentech also released its financial results (Standalone & Consolidated) for the quarter and year ending March 31, 2022 on May 2, 2022. In the quarter ending March 2022, the company's sales increased by 85.22 per cent to Rs 268.10 crore, up from Rs 144.75 crore in the preceding quarter. Olectra Greentech's net profit increased by 94.11 per cent to Rs 17.47 crore in the quarter ending March 2022, compared to Rs 9.00 crore in March 2021. Throughout the year, net profit increased by 192.38 per cent to Rs 35.70 crore in March 2022, compared to Rs 12.21 crore in March 2021, while sales increased by 111.18 per cent to Rs 585.43 crore in March 2022, compared to Rs 277.22 crore in March 2021.
"Pursuant to Regulation 30, 33 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at their meeting held on 02nd May, 2022, have recommended the final dividend at the rate of 10% (i.e. Rs. 0.40/- only) per equity share of Rs 4.00/- (Rupees Four only) each fully paid-up, subject to approval of the shareholders of the Company, which if approved, shall be paid within thirty days from the conclusion of the Annual General Meeting of the Company. The date of book closure for the purpose of final dividend shall be intimated in due course of time," the company has said by informing BSE.