Non-banking financial company (NBFC) Shriram Finance has declared an interim dividend payment to its shareholders. According to the announcement, the company will pay up to 150% dividends to investors. This implies a nominal dividend of Rs 15 per share for Re 10 in FY2022-23.

“Declares a full 150% interim dividend of Rs 15 per share of Rs 10 face value for the financial year 2022-23,” the company said in its exchange filing.

The company has set a record date of January 4, 2023. This means that investors who own shares in the company in their Demat accounts on the record date will be eligible for the dividend amount.

Shriram Finance shares will trade ex-dividend one business day before the record date. The ex-dividend date is the working day before the equity registration date. Shriram Finance’s ex-dividend date is January 3. One should buy company shares before the ex-dividend date to have the shares credited to the Demat account before the record date to get the benefits of corporate actions like dividends, bonuses, splits and derivatives etc.

The company will distribute dividends to all shareholders on January 18. “The interim dividend will be paid to eligible shareholders on or after Wednesday, January 18, 2023,” the company said in its exchange filing.

The stock has risen 11% in the last year. Currently, the company has a market capitalisation of Rs 517.64 billion.