Explore Now
MUMBAI: Rakesh Jhunjhunwala, a prominent investor and the largest non-institutional minority shareholder of Titan Company, on Thursday tore into the company management over their dividend payout for the previous financial year and the dividend policy, in general.
The maker of Tanishq branded jewellery announced a final dividend of Rs 4 per share along with its March quarter and full year earnings. The dividend payout is 40 per cent of the company’s net income, and highest ever, but only optically so.
Titan had announced a similar dividend for the financial year ending March 2020. However, because of the 42 per cent drop in the company’s net profit in 2020-21, the dividend payout ratio appeared substantially higher.