Dividend Stock: Top Financial Stock Announces Interim Dividend Of 100%, Buy?

The management of Anand Rathi recently announced that they have approved a 100% interim dividend. The interim dividend will be credited/dispatched to the shareholders by Friday, November 11, 2022, that is within 30 days from the date of declaration. A dividend is a reward in cash. It is given by the listed company to its shareholders. After making a significant amount of profit in a quarter or a fiscal year, the company can offer a dividend to attract more investors to the stock.

In a stock exchange filing, the company informed, "We would like to inform you that the Board of Directors of the Company, at its meeting held today that is October 13, 2022, have approved and declared the Interim Dividend of 100% (that is Rs. 5/equity share) for the financial year 2022-23." Anand Rathi is a top financial services company that was founded in 1994.

Additionally, the company recently reported that marking a 33% YoY gain in consolidated revenues at Rs. 138 crore for the quarter ended September 2022. This stock's net profits increased 41% to Rs. 43 crores during this period. The company's asset under management gained 16% YoY to Rs. 35,842 crore as of September 30, 2022.

Anand Rathi - stock performance

The current market price of the company closed at Rs. 698.55 up by 2.47%, on October 15, 22 on NSE. In the last 1 month its share price gained by 19.71%, in the last 6 months its share price fell by 0.09%. However, in the last 1 year its share price gained by 22.82%, making it a multibagger stock.

The 52-week high level of this stock is Rs. 732, and the 52-week low level of this stock is Rs. 542.05. This small-cap company has a market capitalization of Rs. 2,890 crore.

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