Anand Rathi Shares Surges Due To 140% Dividend Announcement

The stock price of Anand Rathi Wealth Ltd surged by 2.60% in today's trade led by Wednesday's late evening dividend announcement. The company informed about board's approval to declare a final dividend through stock exchange filing along with the Q4 FY23 results. Given below are the details.

According to the press release, the board of Anand Rathi Wealth Ltd has, "approved and recommend a final dividend of 140 % (i.e. Rs. 7 per equity share) for the financial year 2022-23",which would be paid within 30 days of AGM. The details of record date were not shared.

Further the company shared that the total dividend for FY23 stood at Rs 12 per equity share (including the interim Dividend of Rs 5 per Equity Share).

Anand Rathi Wealth Ltd earned a revenue of Rs 538 crore and profit after tax (PAT) of Rs 168 crore for FY 23. For Q4 FY23 the revenue growth was up by 28.1% over previous year and 4.8% on a quarterly basis to Rs146.8 crore, while the PAT grew by 23.4% year-on-year to Rs 42.7 crore, which was down by 1.2% quarter-on-quarter. Anand Rathi Wealth Ltd is one of the leading wealth solutions firms in India.

The stock price of Anand Rathi Wealth Ltd ended at Rs 852 per share, nearly up by 3%, over previous day's closing. It spiked to Rs 884 per share, to touch 52-week high. In last last one year the stock has rallied by 28.4% and in three years it has surged by 46.02%.

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