Sun TV Network Ltd said on Monday its board had approved an interim dividend of ₹5 per share for the current fiscal year 2021-2022.
“This is to inform that the Board of Directors at its meeting held today, among other things, declared an interim dividend of Rs. 5/- per share of Rs. 5/- each (i.e. 100%) for l fiscal year 2021 -22,” Sun TV said in a filing.
The company has set March 21 as the registration date for the interim dividend and the payment thereof will begin on March 29.
On Monday, shares of Sun TV closed slightly lower at ₹437.10 each on NSE. Year-to-date, the stock has fallen more than 13% so far in 2021.
Sun TV Network, part of one of Asia’s largest television networks Sun Group, is an Indian media giant headquartered in Chennai. It has a variety of TV channel radio stations in multiple languages. Sun Group currently owns and operates 33 television channels in Indian languages - Tamil, Telugu, Malayalam, Kannada, Marathi and Bengali.
Sun TV reported consolidated net income of ₹471 crore for the third quarter ended December, slightly higher than ₹445 crores posted in the corresponding quarter of the prior fiscal year.
The Company’s consolidated operating revenues, on an annual basis, increased by 7% to reach ₹1,060 crore in the December quarter vs. ₹994 crores at the same time last year.