Dividend Stock: Top Financial Stock Announces 100% Interim Dividend, Buy?

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oi-Kuntala Sarkar

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Posted: Saturday October 15th 2022, 11:40 PM [IST]

Anand Rathi’s management recently announced that it has approved a 100% interim dividend. The interim dividend will be credited/sent to shareholders no later than Friday, November 11, 2022, i.e. within 30 days of the declaration date. A dividend is a cash reward. It is given by the listed company to its shareholders. After making a large profit in a quarter or year, the company may offer a dividend to attract more investors to the stock.

Dividend Stock: Top Financial Stock Announces 100% Interim Dividend, Buy?

In a stock exchange filing, the company advised: “We would like to inform you that the board of directors of the company, at its meeting held today, October 13, 2022, approved and declared the interim dividend of 100% (which is Rs. 5/shareholding) for the financial year 2022-23.” Anand Rathi is a leading financial services company founded in 1994.

Additionally, the company recently reported that to mark a 33% year-on-year gain in consolidated revenue to Rs. 138 crore for the quarter ended September 2022. Net profit for this stock increased by 41% to Rs. 43 crores during this period. The company’s assets under management gained 16% year-on-year to Rs. 35,842 crores as of September 30, 2022.

Anand Rathi – stock performance

The current market price of the company closed at Rs. 698.55 up 2.47%, on 15th October 22 on NSE. In the last month its stock price has gained 19.71%, in the last 6 months its price has fallen by 0.09%. However, over the past year, its share price has increased by 22.82%, making it a multibagger stock.

The 52-week high of this stock is Rs. 732, and the 52-week low of this stock is Rs. 542.05. This small cap company has a market capitalization of Rs. 2,890 crores.

Disclaimer

Investing in stocks presents a risk of financial loss. Investors should therefore exercise caution. Greynium Information Technologies and the author are not responsible for any losses caused as a result of decisions based on the article. This article only includes recent stock market information on the companies.

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