Kerala-based gold loan major Muthoot Finance on Thursday declared an interim dividend of 220%, Rs 22 per equity share of face value of Rs 10, for the financial year 2022-23.
The total interim dividend outgo will amount to Rs 883.19 crore. The company got listed during FY 2011-12 and since then been regularly declaring dividend every year.
The dividend will be paid to the shareholders within 30 days from the date of declaration. This is the fourth consecutive year in which the company has declared an interim dividend above 100% of face value. In the last financial year, the company paid an interim dividend of 200% , that is Rs 20 per share.
The record date for reckoning the shareholders who will be entitled to receive the said dividend will be April 18, 2023.
George Alexander Muthoot, MD, Muthoot Finance said, “The announcement of interim dividend reflects upon the steady business performance and positive growth outlook witnessed by the company.”
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“We are witnessing improved business environment and improved collections, and there is still huge untapped potential in the gold loan sector. We remain positive on the growth outlook of our company and remain committed to reward our shareholders,” he added.
Muthoot Finance had a consolidated net profit of Rs 934 crore for Q3FY23 as compared with Rs 1,044 crore in the corresponding quarter of last fiscal, posting a decline of 10.5%. Consolidated income of the company dropped by 4.3% at Rs 3, 030 crore as against Rs 3,168 crore. Consolidated loan assets under management increased to Rs 65,085 crore, up by 7%, y-o-y, as against Rs 60,896 crore in same quarter last year.