Rakesh Jhunjhunwala Stock Paying 750% Dividend To Turn Ex-Dividend In 2 Days

Tata Group Stock Titan Company Limited popularly known as Rakesh Jhunjhunwala stock is all set to turn ex-dividend in 3 days i.e. on July 8, 2022. According to reports, Rakesh jhunjhunwala reffered to as India's Warren Buffet, owns nearly 3,57,10,395 Titan Company shares or 4.02% of total issued-paid up capital of the company. Meanwhile, his wife Rekha Jhunjhunwala owns 95,40,575 shares in Titan copany or 1.07% stake. Below are the details pertaining to Titan Company's dividend:

1. Titan Company Ltd to pay 750% dividend

The company has declared 750% equity dividend or 7.5 per share for the year ending March 2022.

According to the BSE filing dated May 3, 2022, "3. The Board has recommended a Dividend of~ 7.50 per Equity Share of~ 1 each of the Company which shall be paid/dispatched on or after the seventh day from the conclusion of the 38th Annual General Meeting subject to the approval of the shareholders of the Company. Pursuant to the Finance Act, 2020, with effect from 1st April 2020, Dividend Distribution Tax is abolished and dividend income is taxable in the hands of the shareholders. In view of the same, the dividend payments will be subject to deduction of tax at source, as may be applicable.

The ex-dividend date is July 8, 2022.

2. Titan Company Stock Outlook

The current market price of Titan Company Ltd is Rs 2013.55 apiece. The stock has hit the 52-week high of Rs 2768 apiece and 52-week low of 1662 apiece, respectively. The PE of the large-cap stock is 82.25 which is higher than the sector PE of 73.69. The EPS is 24.48. It has a market capitalization of 178,760 at the time of writing the report. The stock has given multibagger returns of 278% in 5 years. Currently, Titan stock is trading at a discount of 27% from its all-time high.

3. Titan Company Dividend History

It has a great dividend history and declared dividend for the last 5 years. It declared an equity dividend of 750% or Rs 7.5 per share for the year ending March 2022. It has started announcing dividend since 2001 and since then it has declared dividend every year.

4. Titan Company Q1 Sales

Titan Company Ltd's 1st quarter sales surged by 205% YoY, as a result of low base effect as the corresponding period of the past fiscal was hit by the second wave of COVID-19. Titan said in its regulatory filing, "Sales in Q1FY23 grew 205 per cent YoY on a low base and clocked 3-year CAGR of 20.5% over Q1FY20." Titan added, "On a low YoY base, Revenues nearly tripled, clocking a growth of 207 per cent."

5. About Titan Company

Titan Company Limited (Titan), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced its operations in 1984 under the name Titan Watches Limited.

Titan is the fifth largest integrated own brand watch manufacturer in the world. Over the last three decades, Titan has expanded into underpenetrated markets and created lifestyle brands across different product categories. Titan is widely known for transforming the watch and jewellery industry in India and for shaping India's retail market by pioneering experiential retail.