Midcap Media Stock Declares 125% Interim Dividend, Shares Jump 14.52% In 1 Month; Know More

Midcap media and entertainment company, Sun TV Network Ltd. in an exchange filing on Friday, Aug 11, informed that the company's Board of Directors has declared an Interim Dividend of Rs 6.25/- per equity share of Rs 5/- each (i.e. 125%) for the financial year 2023-24. The company has amarket cap of Rs 21,463.40 Crore.

"An Interim Dividend of Rs. 6.25/-per equity share of Rs. 5/-each (i.e. 125%) for the financial year 2023-24 has been declared," the Board said in a filing to stock exchanges.

On Friday, Sun TV's stock closed 1.04% lower at Rs 544.65 per share on the BSE. The stock gained 2.28% in the last 1 week It jumped 24.99% in the last 3 months. In 1 year, it jumped 14.83%, while in 3 years, it jumped 37.26%. However, it has fallen 34.17%.

The stock's recorded 52-week low is Rs 394 per share as on Mar 28, 2023, while the 52-week high is Rs 568.20 per share as on Nov 10, 2022.

Sun TV Network's net profit increased by 18.53% to Rs 582.80 crore on a 10.38% rise in revenue to Rs 1,317.78 crore in Q1 FY24 as compared with Q1FY23.

Sun TV Network is India's largest media conglomerate, with 33 TV channels in six languages and a reach of more than 140 million Indian households. SunTV Network channels are available in 27 additional countries, in addition to the United States, Canada, Europe, Singapore, Malaysia, Sri Lanka, South Africa, Australia, and New Zealand.

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