On Thursday, Kerala-based gold lending giant Muthoot Finance declared an interim dividend of 220% for FY22-23 at Rs 22 per share on a face value of Rs 10.

The total interim dividend payout will amount to Rs 883.19 crore. The company went public in the 2011-12 financial year and has declared regular dividends yearly.

The dividend will be distributed to shareholders within 30 days from the declaration date. This is the fourth year the company has declared an interim dividend of more than 100% of face value. The company paid a 200% interim dividend of Rs 20 per share in the last financial year.

The shareholding record date for shareholders entitled to receive the above dividends is April 18, 2023.

George Alexander Muthoot, MD, Muthoot Finance, said, “The interim dividend announcement reflects the company’s stable business performance and positive growth outlook.”

Muthoot Finance’s consolidated net profit for the third quarter of FY23 was Rs 934 crore compared to Rs 1,044 crore in the corresponding period of the previous financial year, a drop of 10.5%. The company’s consolidated revenue fell 4.3% to Rs 3,030 crore from Rs 3,168 crore. Consolidated loan assets under management rose to Rs 65,085 crore, up 7% year-on-year from Rs 60,896 crore a year earlier.