Reliance Industries To Pay Inr 3,401 Crores In Interim Dividend-特命战队go busters

Business The largest private conglomerate of India, Reliance Industries announced that it will pay INR3,401 crores in interim dividend to shareholders, which includes promoters as well. Reliance Industries Payout In a statement to the stock exchange, the MukeshAmbani-led .pany announced a payout of INR 10.5 per share. This was declared after the board members of the .pany conducted a meeting on 10th March. As of 31st December 2015, the .pany had INR 323.92 crore shares outstanding. An analyst informed that the amount is more than what the .pany usually pays to shareholders as a full-year dividend.The dividend payment exercise was more for the promoters and large individual shareholders to avoid additional liability in this years budget, the analyst added. This years budget has proposed a 10% levy on the yearly dividend in.eifresident investors like promoters and individuals earn more than INR 10 lakhs. This is charged aside from the 20.47% tax that .panies in India pay as Dividend Distribution Tax (DDT) ondeclared dividends. Chairman MukeshAmbani will receive INR 3.79 crores of the total payout of INR 1,514.92 croresto his family. In the past 19 years, it is only the second time that Reliance Industries will pay an interim dividend. In March 2007, the .pany gave an interim dividend of INR 11 per share.At that time, the .pany took the decision after the budget increased DDT from 12.5% to 15%. This year, Reliance Industries has set 18th March as the date when it will confirm the list of investors that hold shares in the .pany and are eligible to get the dividend payout. It is known as the record date. Analysts predict that the interim dividend payment will not affect Reliance Industries dividend yield.For the last 10instances, shares of the .pany have been yielding dividend returns between 0.5% and 1.1%. The dividend yield is the total dividend a .pany pays in the financial year. It is denoted as the percentage of the .panys stock price. Strategies of Other .panies On 10th March 2016, 48 .panies conducted a meeting to decide on interim dividend payments, one of them being Reliance Industries. Until 9th March, 275 .panies had already announced similar proposals. This will help them avoid paying the extra 10% levy. Data of Reliance Industries As per data at the stock exchange, the Ambani family owned 45.99% stake in Reliance Industries as of 31stDecember, last year. MukeshAmbani personally held 0.12% stake. 46.66% stake is held by promoter and promoter group. Due to a fall in crude oil prices, margins of Reliance Industries core refining business reached the peak of the last seven years. As a result, the .pany set a record with its highest quarterly profit in the period October 2015 to December 2015. A recent report from Morgan Stanley estimated that the market capitalization of Reliance Industries will double to USD 100 billion in the next 3-4 years from USD 47.97 billion. Downstream projects of the .pany sharpen its refinery edge. Reliance Industries will emerge as a significant gainer if oil prices increase, it added. About the Author: 相关的主题文章: