Muthoot Finance announces payout of Interim Dividend at Rs.24 per share for FY24
The Gold Financing Company, Muthoot Finance’s Board has announced the payout of an interim dividend of Rs.24 per share for the financial year 2024. This dividend payout is the highest ever so far that the company announced.
In a filing to the stock exchanges, Muthood said, “At the meeting held today at the Company’s registered office, Muthoot Finance’s board of directors contemplated and declared a payout of an interim dividend of Rs.24 per equity share for FY 2023-2024.”
The Company announced an interim dividend of Rs.24 per equity share last year and Rs.20 per share in 2022 and 2021 respectively.
On May 30, Muthoot Finance will release its 4th quarter result.
In a media interaction, Muthoot Finance’s George Alexander said that Muthoot’s 80% of customers shifted to non-cash platforms. This was due to an advisory of RBI issued with regard to cash disbursals of loans in excess of Rs.20000 by NBFCs.
Muthoot Finance had stated that for the cash loans in excess of Rs.20,000, the numbers are not significant. The Company also highlighted that any loan provided whose value is above or more than Rs.2 Lakh is fully online now and it is 100% for Customers.
The Company Stocks are trading at Rs.1,714.80, which is higher at 4%. In 2024, 17% growth has been seen in stock so far. Over the past 12 months, shares have risen upto 52%.
