This Mass Media Conglomerate Approves Interim Dividend Of 50% Has March 21 As The record Date

In the board meeting held on March 13, 2023 the directors of Sun TV Network has finally approved to declared an interim dividend. Earlier the company had announced about declaring an Interim Dividend for the financial year 2022-23 through subsequent stock exchange filings from February 2023. In one of the previous filings the board announced the record date for it as well. The details are given below.

According to the latest exchange filing, "This is to inform that the Board of Directors at their meeting held on 13th March 2023 (commenced at 2.30 p.m. and concluded at 3.30 p.m.), inter alia, have declared an Interim Dividend of Rs. 2.50 / - per equity share of Rs. 5 / - each (i.e. 50%) for the financial year2022-23.

On March 8, 2023 the record and payment date for Interim Dividend was announced. "This is to inform you that Tuesday, 21st March, 2023 shall be the Record Date for the Interim Dividend. The Payment Date for the Interim Dividend if any, declared shall commence on and from Wednesday, 29th March, 2023."

About Sun TV Network Limited

Sun TV Network Limited is one of India's largest mass media company, and is part of Sun Group, Asia's largest TV networks. The company is a conglomerate that has 33 TV Channels in 6 languages with the reach of more than 140+ million households in India. SunTV Network's channels can be viewed in 27 countries including U.S.A, Canada, Europe, Singapore, Malaysia, Srilanka, South Africa, Australia and New Zealand. It has a market capitalisation of Rs 16,955.49 crore.

The current market capitalisation of the stock of Sun TV Network Limited is Rs 429.15 per share, it was down by 1.75% over the previous day's closing price. Its 52-week high is at Rs 568.20 per share and 52-week low is at Rs 402.55 per share. In one year the stock price has fallen by 7.42% but in last three years it has grown by 12.74%.

Taxation on dividends

Note that the income earned from dividends is also taxable in the hands of investors. If you are an investor investing in shares through a broker, your dividends will be added to your income. It be treated as your 'income from other sources'. This income will be taxed as per your income tax slab. However, you can still claim deductions for your interest expenditure not exceeding 20 percent of your dividend amount. The normal rate of TDS is 10% on dividend income paid in excess of Rs 5,000 from a company.

Disclaimer

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