Infra major Larsen & Toubro (L&T) has declared a final dividend of ₹24 per equity share of the face value of ₹2 each, subject to the approval of company’s shareholders while announcing its Q4FY23 results earlier today.
‘The Board of Directors has recommended a final dividend of ₹24 per share of the face value of ₹2 each (previous year final dividend of ₹22 per share) and the company will arrange to pay the same after approval of the shareholders in the ensuing Annual General Meeting,’’ said L&T in its regulatory filing to the stock exchanges on May 10.
For the year ending March 2022, L&T had declared an equity dividend of 1100.00 per cent amounting to ₹22 per share. At the then-current share price of ₹2359.95, it resulted in a dividend yield of 0.93 per cent.
The company registered a 10 per cent growth in profit after tax (PAT) to ₹3,987 crore for the fourth quarter of fiscal 2022-23. For the year ended March 31, 2023, L&T posted a total consolidated PAT of ₹10,471 crore, registering a robust growth of 21 per cent compared to the previous year.
Also Read: L&T Q4 results: Consolidated PAT rises 10% YoY to ₹3,987 crore
L&T achieved consolidated revenues of ₹183,341 crore at the end of fiscal 2022-23, registering a year-on-year growth of 17 per cent, aided by strong execution of a large order book in the infrastructure projects segment and robust momentum in the IT&TS portfolio.
The company received orders worth ₹230,528 crore at the group level during the year ended March 2023, registering an annual growth of 19 per cent. During the year, it received orders across multiple segments such as public spaces, hydel & tunnels, irrigation systems, ferrous metals, oil and gas, power transmission and distribution and defence sectors.