Adani Group Stock Announces Dividend at 250% for FY22; Do you Own?

Adani Ports and Special Economic Zone (SEZ) Limited on Tuesday announced that the board of the company has recommended a dividend at 250 per cent for the financial year 2021-22. “The board has recommended a dividend at 250 per cent ( Rs 5) per equity share of Rs 2 each fully paid up for the financial year 2021-22, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM),” the Adani Group company informed in an exchange filing.

The company further said that it will inform in due course the date on which the company will hold the AGM for the year ended March, 2022 and the date from which dividend will be paid or warrants thereof will be dispatched to the shareholders.

However, shares of Adani Ports fell over 3 per cent on Wednesday after the Adani Group firm reported a 21 per cent decline in net profit for the March 2022 quarter. The stock opened with a loss of 2.04 per cent at Rs 736.50 against the previous close of Rs 751.80 on BSE. Adani Ports share touched an intraday low of Rs 727.60, falling 3.21 per cent on BSE.

The stock trades lower than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Adani Ports share has lost 3. 62 per cent in one year and gained 0.81 per cent since the beginning of this year.

Market cap of the firm fell to Rs 1.54 lakh crore on BSE. Total 0.52 lakh shares of the firm changed hands amounting to a turnover of Rs 3.84 crore on BSE.

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