India's largest telecommunications company Bharti Airtel declared a final dividend of Rs 2.5 per equity share of face value Rs 5 for the financial year 2017-2018.
India’s largest telecommunications company Bharti Airtel declared a final dividend of Rs 2.5 per equity share of face value Rs 5 for the financial year 2017-2018. “The board of directors at its meeting held on April 24, 2018, has recommended final dividend for the financial year 2017-18 of Rs 2.5 per equity share of face value Rs 5 each, being subject to the approval of the shareholders in the ensuing annual general meeting of the company,” Bharti Airtel said in a statement.
In a statement, Mr Gopal Vittal, MD and CEO, India & South Asia, said “The telecom industry continues to witness below cost, artificially suppressed pricing. Industry revenues were further adversely impacted this quarter due to the reduction in International termination rates. Airtel continued to consolidate its leadership position this quarter. Our strategic investments in data capacities, innovative digital content through Airtel TV, customer friendly bundles and upgrade programs led to the highest ever mobile data customer additions of 15 million during the quarter.”
“Usage parameters remained robust– on a YOY basis, we saw data and voice traffic grow 584% and 55% respectively. In line with our goal of building market-leading 4G networks, with best in class speeds and capacity; while supporting the Digital India initiative, we have ended the financial year with our highest ever capital expenditure of Rs 240 Bn. We intend to continue the rollout momentum next year as well,” Gopal Vittal added.
Shares of Bharti Airtel shuttled between a day’s high of Rs 408.5 and a day’s bottom of Rs 396.6 before closing up 0.61% at Rs 406.1 on Tuesday on BSE. Earlier in January this year, Bharti Airtel declared an interim dividend of Rs 2.84 per equity share while in the financial year 2016-2017, Bharti Airtel distributed a dividend of Re 1 per equity share.
Over the course of last one year, Bharti Airtel share price had risen nearly 14% from a stock price level of Rs 354 to Rs 406 on NSE. Bharti Airtel commands a market capitalisation of Rs 1,62,334.42 crore on the basis of the closing price of Rs 406.1 on BSE on Tuesday.