Dividend Stocks: 1 May 2024 📈💰
Aditya Birla Group’s UltraTech Cement Limited announces impressive results for the March quarter:
- Net profit for the March quarter of 2023-24 increased by 35.24% to Rs 2,258.58 crore, compared to Rs 1,670.10 crore in the same period last year.
- Operating revenue saw a growth of 9.41% to Rs 20,418.94 crore in the review period, up from Rs 18,662.38 crore in 2022-23.
- UltraTech Cement’s net profit for 2023-24 rose by 38.05% to Rs 7,003.96 crore, from Rs 5,073.40 crore in the previous year.
- Total income increased by 12.21% to Rs 71,525.09 crore in 2023-24.
- Total expenses for January-March quarter grew by 6.67% to Rs 17,381.09 crore.
UltraTech Cement proposes to issue a final dividend of 700% per share or Rs 70 per share:
- The proposal will require shareholders’ approval at the upcoming annual general meeting.
- This will be the highest dividend payout by the company since 2019, surpassing last year’s announcement of Rs 38 per share.
- UltraTech has not announced any bonus issues or stock splits.
On the first trading day of the week, shares of UltraTech closed at Rs 9,962.25, up by 2.70%.
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