Rakesh Jhunjhunwala portfolio stock Titan Company has announced ₹7.50 per share dividend to its investors. The Tata group company made this announcement despite 7 per cent fall in its net profit in Q4FY22. Titan company made the announcement in regard to dividend through exchange communication in which it said that the Board of Directors of the Company at its meeting held on 3rd May 2022 has recommended a dividend of ₹7.50 per equity share. After the announcement of ₹7.50 dividend per share, Big Bull Rakesh Jhunjhunwala’s net worth and his wife Rekha Jhunjhunwala’s net worth is expected to grow by around ₹34 crore.
Rakesh Jhunjhunwala shareholding in Titan Company
As per Titan Company shareholding pattern for January to March 2022 period, Big Bull and his wife Rekha Jhunjhunwala have shareholding in this Tata company. Rakesh Jhunjhunwala holds 3,53,10,395 Titan shares, which is around 3.98 per cent of total paid-up capital of Titan Company. His wife Rekha Jhunjhunwala holds 95,40,575 Titan shares, which is around 1.07 per cent of total paid-up capital of the Tata group company.
Jump in Rakesh Jhunjhunwala net worth
As Rakesh Jhunjhunwala holds 3,53,10,395 Titan shares and the jewelry company has announced ₹7.50 dividend for one share, net rise in Rakesh Jhunjhunwala net worth would be around ₹26.50 crore ( ₹7.5 x 3,53,10,395). Similarly, his wife Rekha Jhunjhunwala holds 95,40,575 Titan Company shares and Dividend announced is ₹7.50 per share. Thus, Rekha Jhunjhunwala net worth is expected to grow by around ₹7.15 crore ( ₹7.50 x 95,40,575).
So, the Jhunjhunwala couple earned around ₹34 crore from the dividend announced by this Tata company.
Titan Company has announced ₹7.50 per share dividend through exchange communication citing, “Titan Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 03, 2022, inter alia, has recommended a Dividend of Rs. 7.50 per Equity Share of Rs. 1 each of the Company which shall be paid/dispatched on or after the seventh day from the conclusion of the 38th Annual General Meeting subject to the approval of the shareholders of the Company. Pursuant to the Finance Act, 2020, with effect from April 01, 2020, Dividend Distribution Tax is abolished and dividend income is taxable in the hands of the shareholders. In view of the same, the dividend payments will be subject to deduction of tax at source, as may be applicable.”