Board of AMC stock announces record date for 117% dividend

Market


Aditya Birla Sun Life AMC Ltd, a small-cap company with a market capitalization of 11,543 crore, operates in the financial industry. Aditya Birla Sun Life AMC Limited is a collaboration between Sun Life (India) AMC Investments Inc. and Aditya Birla Capital Limited. Aditya Birla Sun Life AMC, one of India’s top asset managers with a presence across over 280 locations, is part of the corporation, which serves as the holding company for the Aditya Birla Group’s financial services companies. For the financial year 2021-22, Aditya Birla Sun Life AMC has announced an equity dividend of 5.85/- per equity share or 117% with a face value of 5. And for the purpose of dividend, the company has announced the record date at its meeting held on June 23, 2022.

The company has said in its exchange filing that “As informed earlier, the Board of Directors had recommended a final dividend of Rs. 5.85/- per equity share for the financial year 2021-22. The final dividend, if approved by the shareholders at the ensuing AGM, shall be paid on or before Wednesday, 17th August 2022. In terms of Regulation 42 of the SEBI Listing Regulations, we wish to inform you that the record date for determining the shareholders eligible to receive the final dividend, subject to the shareholder’s approval at the ensuing AGM, will be Thursday, 14th July 2022.”

The stock dipped 0.84 per cent from its previous closing of 404.50 to close today’s trading at a market price of 401.10. The stock has fallen 42.65 per cent in the last year, and so far in 2022, it has declined 24.23 per cent according to a year-to-date (YTD) basis. The stock has fallen 20.35 per cent over the previous six months, 8.02 per cent over the past month, and 1.67 per cent during the past five trading days. Aditya Birla Sun Life AMC shares reached a 52-week high on the NSE on October 11, 2021, at 722.90, and the most recent 52-week low on June 17, 2022, at 375. This means that at the current price of 401.10, the stock is trading 44.51 per cent below its 52-week high and 6.96 per cent above its 52-week low. Aditya AMC is trading below the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages as of Friday’s closing price.

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