L&T Announces Final Dividend Of Rs 28 Per Share

Larsen & Toubro Ltd. has announced a dividend of Rs 28 per equity share for fiscal 2024, which will be paid after approval from shareholders at the ensuing annual general meeting. The company announced distribution of Rs 3,849 crore to unitholders in the fourth quarter of the previous fiscal.

The dividend, if declared at the annual general meeting, will have a record date of June 20, for determining the members for the proposed dividend, an exchange filing said on Wednesday.

In comparison, in August 2023, the company had issued a dividend of Rs 30. On July 21, 2022, the company gave a final dividend of Rs 22.

In the fourth quarter, the company reported a net profit jump of 12.4% to Rs 5,013 crore and a revenue gain of 15% to Rs 67,079 crore.

Shares of L&T closed 1.60% higher at Rs 3,482.75 apiece, as compared with a flat close in the NSE Nifty 50.