Rs 9.25/Share Dividend: Finance Stock Sets Record Date For 185% Payout

ICICI Securities Ltd is a mid-cap finance company which recorded a market cap of Rs 19,886.36 Cr during Thursday's closing session. The company has declared a final dividend of 185% for FY23 and for the purpose of the same record date has been made public which has been covered below briefly.

ICICI Securities Dividend

"The Board of Directors, at its Meeting held on April 19, 2023, had recommended payment of final dividend of Rs 9.25 (Rupees Nine and Twenty-Five Paise only) per equity share of face value of Rs 5/- each to the Members of the Company subject to the approval of Members at the ensuing AGM of the Company. Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we also wish to inform you that the Register of Members and Share Transfer Books of the Company will remain closed from Wednesday, August 23, 2023 to Tuesday, August 29, 2023 (both days inclusive) for determining the names of the Members eligible for final dividend on equity shares for the financial year ended March 31, 2023.

Final dividend on equity shares, if approved, at the AGM would be paid to those Members who hold shares: i. In dematerialised mode, based on the beneficial ownership details to be received from National Securities Depository Limited and Central Depository Services (India) Limited as at the close of business hours on Tuesday, August 22, 2023. ii. In physical mode, if their names appear in the Company's Register of Members at the close of business hours on Tuesday, August 22, 2023," said ICICI Securities in a stock exchange filing on Thursday.

ICICI Securities Ltd. has announced an equity dividend of 380.00% at a face value of Rs 5 or Rs 19 per share for the financial year ended March 2023. The dividend yield at the current share price of Rs 615.50 is 3.09%. The company has a solid track record of dividend declarations during the past five years. Since August 21, 2018, ICICI Securities Ltd. has announced 10 dividends, according to data from Trendlyne.

ICICI Securities Financials

Compared to a net profit of Rs 273.6 crore in Q1FY23, the firm recorded a 1% decline in its consolidated net profit for the quarter ending June 2023, coming in at Rs 270.9 crore. From Rs 793.5 crore in Q1FY23 to Rs 934.3 crore in Q1FY24, the company's overall revenue from operations climbed 18% YoY. During the quarter, ICICI Securities added 2.1 lakh customers, bringing its total customer base to almost 93 lakh.

ICICI Securities Share Price

On Thursday, the shares of ICICI Securities closed on the BSE at Rs 615.50 apiece down by 2.32% over the previous close of Rs 630.15. The stock made a 52-week-high of Rs 650.00 on (26/06/2023) and a 52-week-low of Rs 417.00 on (29/03/2023). During Q1FY24, the company recorded promoter shareholding of 74.83%, FIIs stake of 9.48%, DIIs stake of 5.08%, and public stake of 10.60%.