Titan Company Declares ₹11 per Share Dividend; Rakesh Jhunjhunwala's Family Receives ₹50 Crore in Profit; Company Reports 13% Profit Increase.
Dividend: Titan Company Limited, a constituent of Nifty 50, recently announced a significant dividend for its investors. This dividend resulted in a profit exceeding ₹50 crore for the family of the late investor Rakesh Jhunjhunwala. The company declared a dividend of ₹11 per share, yielding approximately ₹50.37 crore for the Jhunjhunwala family.
Reviewing Titan Company's dividend history, the company has declared 22 dividends since August 27, 2003. In recent years, the company has consistently paid dividends to its investors, proving to be a stable and profitable investment.
Titan Company's Quarterly Results and Dividend Announcement
According to Titan Company's recently announced quarterly report, the company's profit increased by 13%. During this period, the company recorded a net profit of ₹871 crore, a 13% increase compared to the same quarter last year. Furthermore, the company's revenue also saw a 22% increase, rising to ₹14,049 crore.
Investors have reaped substantial profits from the company's dividend. Titan declared a dividend of ₹11 per share, which will be distributed within 7 days following the AGM. According to Titan's shareholding pattern, promoters hold 52.90% of the shares, while FIIs hold 17.80% and DIIs hold 12.20%.
Jhunjhunwala Family's Profit and Titan's Share Performance
Rakesh Jhunjhunwala's family owns 45,793,470 shares of Titan, valued at ₹16,074.9 crore. The dividend received on these shares represents a significant income source for the Jhunjhunwala family. The dividend from these shares amounts to over ₹50 crore, reflecting the success of their investment.
Titan's share price witnessed a sharp increase on May 8th, and on May 9th, the share closed 5% higher at ₹3,509.90. Titan's market capitalization stands at ₹3.12 lakh crore, indicating the company's success and stability.
Additional Benefits for Investors Alongside the Dividend
Titan Company's consistent dividend payouts have yielded substantial returns not only for the Jhunjhunwala family but also for other investors. Combined with the company's stable profits and increasing revenue, this makes it an attractive investment option. For those considering investments, investing in stable and profitable companies like Titan could prove highly beneficial.
