18 Aug , 2022 By : Kanchan Joshi
Shares of Reliance Industries (RIL) started trading ex-dividend on Thursday, a day ahead of its record date for determining eligible shareholders for the dividend benefit for FY22. The company's board of directors has recommended a dividend of rs8.00 per equity share of Rs10 for the fiscal year ended March 31, 2022.
Earlier this month, during its June 2022 quarterly result announcements, RIL had fixed August 19 as the record date for determining the members eligible to receive a dividend for the financial year FY22. The dividend, if declared at the AGM, will be paid within a week from the conclusion of the Annual General Meeting (AGM). The company will be holding its 45th AGM on Monday, August 29, 2022.
“The Board of Directors has recommended dividend of Rs8/- per fully paid up equity share of Rs10/- each for the financial year ended March 31, 2022. This payment of dividend is subject to approval of members of the Company at ensuing Annual General Meeting of the Company," RIL had informed in an exchange filing in May.
In Q1 FY23, RIL posted a consolidated net profit of Rs17,955 crore rising by 46.3% from the year ago quarter, on the back of robust refining margins due to intake of cheaper Russian crude and fuel exports buoyed its dominant oil-to-chemicals business. Its consolidated revenue from operations rose over 54% to Rs223,113 crore.
Telecom arm Reliance Jio posted healthy ARPU-led EBITDA growth – up 27% from the year-ago quarter and 4% on a sequential basis, while Reliance Retail EBITDA jumped 98% year-on-year (YoY) due to the recovery in operations.
Mukesh Ambani chairs and runs Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail. Almost 60% of Reliance’s revenue comes from oil-refining and petrochemicals, though, the conglomerate has been reducing its dependence on oil-refining by diversifying into retail, telecommunications and technology. Ambani is pivoting the conglomerate into green energy and will scale up investments in the green energy initiative that it recently announced to play a leading role in the world's transition to clean energy.
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