Gold loan company Muthoot Finance announces interim dividend of 200%

Muthoot Finance, an Indian gold loan company, has announced an interim dividend of 200% for the financial year 2020-21, at INR20 per share of INR10 face value.

The gold loan provider said that its shareholders will be paid the dividend on or before 11 May 2021.

Muthoot Finance will make a dividend payout of INR 8.02 billion ($110 million).

For the previous financial year, the Indian gold loan company had paid its shareholders a dividend of 150%, which was INR15 per share.

The company said that the record date for reckoning the shareholders who will be entitled to get dividend will be 23 April 2021.

According to Muthoot Finance, it has declared dividend every year since the financial year 2011-12. The cumulative dividend declared totals INR40.77 billion, which includes the dividend distribution tax.

Muthoot Finance has over 4,500 gold loan branches in 23 states across India.