Rs. 5.25/Share Dividend: Mid Cap AMC Stock Fixes Record Date

Aditya Birla Sun Life AMC Ltd is a mid-cap company that deals in the financial services sector. In order to determine the eligibility of the shareholders for the purpose of final dividend of FY23 the company has announced record date.

"As informed earlier, the Board of Directors had recommended a final dividend of Rs. 5.25/- per equity share for the financial year 2022-23. The final dividend, if approved by the shareholders at the ensuing AGM, shall be paid on or before Tuesday, 5th September, 2023. In terms of Regulation 42 of the SEBI Listing Regulations, we wish to inform you that the record date for determining the shareholders eligible to receive the final dividend, subject to the shareholder's approval at the ensuing AGM, will be Friday, 4th August, 2023," said Aditya Birla Sun Life AMC in a stock exchange filing.

Aditya Birla Sun Life AMC has announced an equity dividend of 205.00% at a face value of Rs 5 equaling Rs 10.25 per share for the financial year ended March 2023. This generates a dividend yield at the current share price of Rs. 382.35 of 2.7%. According to Trendlyne's statistics, Aditya Birla Sun Life AMC Ltd. has issued 3 dividends since November 3, 2021.

In comparison to the quarter ended March 31, 2022, when the firm recorded a total income of Rs. 347.05 crores, the period ended March 31, 2023 reported a total income of Rs. 329.16 crores, a drop of 5.15% YoY. In Q4FY23, the firm reported a net profit of Rs 135.56 Cr, a drop of 14.48% YoY from Rs 158.51 Cr in Q4FY22. Its EPS was Rs 4.69, a drop of 14.57% YoY from Rs 5.49 in the corresponding period of FY22.

The shares of Aditya Birla Sun Life AMC opened today on the BSE at Rs 371.75 apiece. The stock made a 52-week-high of Rs 503.15 on (12/09/2022) and a 52-week-low of Rs 307.90 on (28/03/2023). During Q1FY24, the company recorded promoter shareholding of 86.49%, FIIs stake of 1.68%, DIIs stake of 4.69% and public stake of 7.15%.