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L&T Finance Holdings declares highest dividend till date

L&T Finance Holdings declares highest dividend till date

India Blooms News Service | @indiablooms | 10 Jun 2023, 02:36 am

Pune: L&T Finance Holdings Limited (LTFH) has recommended a final dividend of Rs. 2 per equity share (face value Rs. 10 per share) for the financial year 2022-23 at a board meeting held on Friday.

This is the highest declared dividend by the Non-Banking Financial Company till date.

The dividend once approved by the members at the ensuing Annual General Meeting (AGM) will be paid within 30 days from the date of the AGM.

Speaking on the development, Dinanath Dubhashi, Managing Director and Chief Executive Officer, L&T Finance Holdings said, “Strong business performance coupled with a strengthened balance sheet with a Capital Adequacy Ratio of 24.52 percent in FY23 and adequate liquidity buffers positions the Company well on the trajectory to achieve its Lakshya 2026 targets.”

The company recorded a Profit After Tax (PAT) of Rs. 1,623 crores (Consolidated) in FY23, up 52 percent Year-on-Year (YoY).

LTFH also recorded the highest annual retail disbursements at Rs. 42,065 crore driven by strong growth across all retail segments.

Besides, the company has achieved an accelerated reduction in the wholesale book by 54 percent YoY to Rs. 19,840 crores.

Also, the retail book size stood at Rs. 61,053 crores, up 35 percent YoY, said a press release.

(With UNI inputs)