According to the Dow Jones Industrial Index, Microsoft Corporation, General Electric, Johnson & Johnson, General Motors, Procter & Gamble, Coca-Cola, Citigroup, Hewlett Packard, IBM, Intel Corporation, Merc & Co, Honeywell Intl, AT&T Corp, Caterpillar Inc, 3M Company, Du Pont, Wal-Mart Stores, Alcoa Inc, American Express, Altria Group, Exxon Mobil and International Paper Co pay quarterly dividends in the US. These companies are domiciled from the power to the fast moving consumer good sectors.
Mumbai: The Credit Rating and Information Services of India (Crisil) has reaffirmed all the ratings on RELs outstanding long-term debt programme at triple-A and the short-term debt programmes at P1+ following the decision of the companys board of directors to amalgamate BSES Andhra Power Ltd with the company, subject to necessary approvals.
As far as General Electric is concerned, the company paid $0.42 per share in 1998, $0.49 in 1999, $0.57 in 2000, $0.66 in 2001 and $0.73 in 2002, General Motors $2 each in 1998, 1999, 2000, 2001 and 2002, Honeywell International -$0.60 in 1998, $0.68 in 1999, $0.75 each in 2000, 2001 and 2002, 3M Company -$2.20 in 1998, $2.24 in 1999, $2.32 in 2000, $2.40 in 2001 and $2.48 in 2002, Hewlett Packard $0.28 each in 1998 and 1999, $0.29 in 2000, $0.30 in 2001, $0.31 in 2001 and $0.32 in 2002.
Analysts said that RELs decision would give a new lease of life to shareholders as they could get quarterly income instead of a consolidated one after a year. Similarly, shareholders could take advantage of quarterly dividends and use that income for reinvestment given the fact that interest rates have been on a decline these days.
REL, in its press release issued after its board meeting on July 28, had stated that this makes it the first listed company in India to declare quarterly dividends in the interests of enhancing overall shareholder value.