Can Fin Homes Declares Interim Dividend Of Rs 6 Per Share

Can Fin Homes Ltd. on Tuesday announced an interim dividend of Rs 6 per share for fiscal 2025. The board has set Dec. 4 as the record date for determining the eligibility of shareholders for the dividend, according to an exchange filing.

The interim dividend will be credited on or before Dec. 25, 2024, the filing stated. The home loan-issuer will incur an expense of nearly Rs 80 crore as part of the dividend payout.

The total shareholders in Can Fin Homes, as of Sept. 30, stood at over 1.06 lakh. According to the shareholding pattern available with the exchanges, promoter Canara Bank Ltd. held 29.99% equity in the company, while retail investors owned 15.71% stake.

The housing finance company had paid a final dividend of Rs 4 per share in July for the financial year-ended Mar. 31, 2024. In that fiscal, the company gave an interim dividend of Rs 2.

Notably, Can Fin Homes is a provider of loans to low and middle income group individuals, and first-time home buyers.

Shares of the lender closed 2.38% lower at Rs 824.15 apiece on the NSE, ahead of the dividend announcement. In comparison, there was a 0.11% decline in the benchmark Nifty 50.

Can Fin Homes' stock has risen by 5.6% in the last 12 months and by 8.6% on a year-to-date basis.

Thirteen out of the 20 analysts tracking the company have a 'buy' rating on its stock, five recommend a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price target of Rs 982.61 implies a potential upside of 9.7%.