Shares of Muthoot Finance Ltd surged 5% to touch a day’s high of Rs 2,211 on 21st April, following the news that its board of directors has approved an interim dividend of Rs 26 per equity share (260%) for the Financial Year 2024–25.
The dividend will be paid within 30 days of the declaration.
The board has also proposed increasing its borrowing limit to Rs 2 trillion under Section 180(1)(c) of the Companies Act, 2013, subject to shareholder approval.
The company has a strong dividend track record—offering Rs 24 per share in 2024, Rs 22 in 2023, and Rs 20 each in 2022 and 2021. At the current price, the dividend yield stands at 1.09%.
The stock has delivered a 13% return in the past six months and 34% over the last year. Currently, the company’s market capitalisation stands at around Rs crore.
At 2:06 PM, the shares of Muthoot Finance were trading 4.53% higher at Rs 2,207.20 on NSE.
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