The board of directors of Muthoot Finance have approved payment of an interim dividend of Rs. 20 per equity share.
The interim dividend will be paid to the shareholders within 30 days from the date of declaration.
About Company
Muthoot Finance claims to be the largest gold loan NBFC in India. It has a branch network of 4500 plus branches and serves about 2,00,000 plus retail customers every day for gold loans and other products.
Its loan assets stood at Rs. 41,611 crores as at March 31, 2020 and had a Capital Adequacy Ratio of 26.38% as on December 31, 2020.
Who are eligible for dividend?
Shareholders, who are entitled as on close of business hours on April 23, 2021, would be entitled to receive the interim dividend, the company said.
Company’s Financial
For the quarter ended December 2020, the gold loan financier had reported a 22% jump on a year-on-year basis in standalone profit after tax at ₹991.4 crore while total income grew 20% to ₹ 2,777 crore.
Muthoot had achieved a growth of 22% in gold loan portfolio during the first nine months of the current year.
Impact on Stock Market
Shares of Muthoot Finance gained 4 per cent at Rs 1,206.40 on the BSE on Tuesday after the announcement.
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