While releasing its Q4FY22 earnings, Adani Ports and Special Economic Zone (SEZ) Limited on Tuesday announced that the board of the company has recommended a dividend at 250% ( ₹5) of ₹2 each for the financial year 2021-22.
“The board has recommended a dividend at 250% ( ₹5) per equity share of ₹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.
The company's net profit fell 21% to ₹1,024 crore in the quarter ending March, 2022, while revenue rose over 6% to ₹3,845 crore and Ebitda declined about 19% to ₹1,858.8 crore.
Adani Ports and SEZ Ltd is India's largest integrated ports and logistics company. Adani Ports shares are down over a per cent in a year's period whereas the Adani Group stock has risen about 3% in 2022 (YTD or year-to-date) so far.