Rakesh Jhunjhunwala share turns ex-dividend stock today. Scrip surges 3%

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Rakesh Jhunjhunwala portfolio: Dividend paying stock Indian Hotels share price has surged ahead of the cut-off date for payment of 40 per cent dividend for FY22. Indian Hotels share price today opened with an upside gap and went on to hit an intraday high of 222.75 apiece levels on NSE, logging near 3 per cent surge from its yesterday’s close of 215.10 per share levels. Board of directors of the Rakesh Jhunjhunwala-backed company has announced a dividend of 0.40 per equity share for eligible shareholders and record date for payment of dividend has been fixed on 22nd June 2022.

Announcing about the dividend payment, Rakesh Jhunjhunwala-backed company informed Indian bourses citing, “(The board of directors of the company has) recommended a dividend of 0.40/- per Equity Share of 1/- each fully paid up of the Company @ 40% (previous year 0.40/- per Equity Share of 1/- each fully paid up @ 40%}, subject to the approval of the Members at the Annual General Meeting.”

Indian Hotels share price history

After climbing to life-time high of 268.95 on NSE in May 2022, this Rakesh Jhunjhunwala stock has been under profit-taking pressure. However, the stock has been showing upside swing after hitting recent low of 207.90 in early morning deals on Monday session. In last one year, this hospitality stock has risen from around 130 to 222 per share levels, ascending to the tune of more than 70 per cent in this time horizon.

Rakesh Jhunjhunwala shareholding in Indian Hotels

According to Indian Hotels Company Limited shareholding pattern for January to March 2022, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have invested in this hospitality company. Rakesh Jhunjhunwala holds 1,57,29,200 shares of the company or 1.11 per cent stake whereas his wife Rekha Jhunjhunwala holds 1,42,87,765 shares or 1.01 per cent stake in the company.

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