Rekha Jhunjhunwala Portfolio Stock To Turn Ex-Dividend Today: Do You Own?

Tata Communications Ltd is a large-cap telecom company that recorded a market cap of Rs 44,498.48 CVr during Friday's closing session. For FY23, the company has recommended a final dividend of 210%, with the record date set as June 26, 2023, on Monday. Hence due to the T+1 settlement mechanism of the company, the stock is going to trade ex-dividend today.

"We would like to inform you that the Board of Directors has recommended a final dividend of Rs 21.00 per share of the face value of Rs.10 each for the financial year ended March 31, 2023. This dividend, upon approval of the shareholders, shall be paid to eligible shareholders after conclusion of the ensuing Annual General Meeting," said Tata Communications in a stock exchange filing.
Tata Communications has announced an equity dividend of 210.00% at a face value of Rs 10, or Rs 21 per share, for the fiscal year ended in March 2023. This generates a dividend yield of 1.35% at the current share price of Rs 1560.10. The company has a solid track record of dividend declarations during the past five years. Tata Communications Ltd. has issued 25 dividends since August 31, 2000, according to Trendlyne statistics.

For the quarter that ended in March 2023, the company's total net profit fell by 10.7% to Rs 326 crore from Rs 365 crore in the corresponding quarter of the previous year. But for the full FY23, the net profit rose from Rs 1,485 crore the previous year to Rs 1,801 crore. The fourth quarter's consolidated revenue from operations totalled Rs 4,568 crore, which is a rise of 7.2% over the Rs 4,263 crore recorded in the same quarter last year. Compared to the Rs 17,056 crore recorded in FY22, the total revenue from operations for the full fiscal year 2023 was Rs 18,201 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the firm dropped by 1.1 percent to Rs. 1,034.2 crore in Q4FY23 from Rs. 1,045.3 crore in the same quarter the year before.

On Friday, the shares of Tata Communications closed on the BSE at Rs 1560.10 apiece down by 1.04% from the previous close of Rs 1576.50. The stock made a 52-week-high of Rs 1,673.95 on (14/06/2023) and a 52-week-low of Rs 890.75 on (23/06/2022). During Q4FY23, the company's promoters' stake was 58.86%, FIIs stake was 16.99%, DIIs stake stood at 14.02% and public stake reached 10.11%. As per the shareholding pattern of Tata Communications for January to March 2023 quarter, Rekha Jhunjhunwala wife of late ace investor Rakesh Jhunjhunwala held fully paid-up equity shares of 51,00,687 or 1.79% stake in the company.