Did RICH declare a big dividend because of the sale of AAIC? Expert's comments please?
Might Possible, at the same time they also form a new company for the Insurance Business and they need to invest on that as well, also they are on the expansion mode on the Retail Sector again which they needed big capital infusion, also still there borrowings are high, also i think they can't get the Companies Credit Sales to there bank account until they settle the 1 Billion Loan
how does the above explain the high dividend given by RICH? are they trying to be attractive to the investors?
In the past they gave handsome dividend also.
Please see below. Please note the following notes also.
Plus time to time they gave bonus shares and emolyee share options.
In 2010 they carried out Share split at 1:15 but keeping the same issued capital.
Year 2000/2001 Rs. 3.00 ( Issued Share Capital Rs.232,295,000.00)
Year 2001/2002 Rs. 2.50 ( Issued Share Capital Rs. 233,352,000.00)
Year 2002/2003 Rs. 2.00 ( Issued Share Capital Rs. 235,556,000.00)
Year 2003/2004 Rs. 3.00 ( Issued Share Capital Rs. 590,540,000.00)
Year 2004/2005 Rs. 3.50 ( Issued Share Capital Rs. 591,928,000.00 )
Year 2005/2006 Rs. 1.50 ( Issued Share Capital Rs. 1,183,856,000.00)
Year 2006/2007 Rs. 0.50 ( Issued Share Capital Rs. 1,183,856,000.00)
Year 2007/2008 Rs. ----- ( Issued Share Capital Rs. 1,578,475,000.00)
Year 2008/2009 Rs. ----- ( Issued Share Capital Rs. 1,578,475,000.00)
Year 2009/2010 Rs. 1.00 ( Issued Share Capital Rs. 1,578,475,000.00)
Year 2010/2011 Rs. 0.30 ( Issued Share Capital Rs. 1,627,612,000.00)