Reliance Industries shares are trading ex-dividend today. The key things to know | Techno Glob

Shares of Reliance Industries (RIL) began trading ex-dividend on Thursday, a day before its record date to determine shareholders eligible for the FY22 dividend. The company’s board of directors recommended a dividend of 8.00 per capital share of 10 for the year ended March 31, 2022.

Earlier this month, in its June 2022 quarterly earnings announcements, RIL set August 19 as the record date for determining members eligible to receive a dividend for the FY22 financial year. The dividend, if declared at the AGM, will be paid within one week of the close of the Annual General Meeting (AGM). The company will hold its 45th general meeting on Monday August 29, 2022.

“The board of directors has recommended a dividend of 8/- per fully paid-up share of 10/- each for the financial year ended March 31, 2022. This dividend payment is subject to the approval of the members of the Company at the Company’s next Annual General Meeting”, RIL had informed in an exchange document. in May.

In the first quarter of FY23, RIL recorded a consolidated net profit of 17,955 crores up 46.3% from the year-ago quarter, on the back of robust refining margins due to the inflow of cheaper Russian crude and fuel exports, supported its dominant business from petroleum to chemicals. Its consolidated revenue from operations increased by more than 54% at 223,113 crores.

Telecom arm Reliance Jio reported healthy EBITDA growth driven by ARPU – up 27% from the prior year quarter and 4% sequentially, while Reliance’s EBITDA Retail jumped 98% year-over-year (YoY) as operations resumed.

Mukesh Ambani chairs and directs Reliance Industries, which has interests in petrochemicals, oil and gas, telecommunications and retail. Nearly 60% of Reliance’s revenue comes from oil refining and petrochemicals, although the conglomerate has reduced its reliance on oil refining by diversifying into retail, telecommunications and technology. Ambani is pivoting the conglomerate towards green energy and will increase investment in the green energy initiative it recently announced to play a leading role in the global clean energy transition.

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