MUMBAI: Bombay Stock Exchange (BSE) announced its audited consolidated financial results for the quarter and year ended March 31, 2019. The Board has recommended a payment of dividend of Rs. 25 per equity share of face value of Rs. 2 each.[the_ad id=”31605″]The proposal is subject to the approval of shareholders at the ensuing fourteenth Annual General Meeting scheduled to be held on July 15, 2019. After taking into account the interim dividend of Rs. 5 per equity share paid in the month of December 2018, the total dividend for the financial year stands at Rs. 30 per equity share of face value of Rs. 2 each.
The dividend payout ratio is 97%. The record date for determining eligibility for the final dividend is June 28, 2019 and the payment will be made on or before August 13, 2019.
BSE proposes to buyback its fully paid up equity shares of Rs 2 each at Rs 680 per equity share through tender offer route, subject to passing of a special resolution by the shareholders of the Company. The total amount of buyback size would be maximum of Rs 4.6 billion.
The Company proposes to buyback 67,64,705 Equity Shares at the Buyback Offer Price (representing 13.06% of the total paid-up equity capital of the Company). The Buyback offer size represents 24.73% of the aggregate of the total paid up capital and free reserves of the Company based on the standalone audited financial statements of the Company as at March 31, 2019.
Commenting on financial performance, Shri Ashishkumar Chauhan, MD & CEO, said: “BSE continues to grow from traditional stock exchange platform to an agile, high-tech e-commerce platform for distribution of financial products with ability to integrate many more services as well as products. The geographical reach and business growth of StAR Mutual Fund platform reinforces success of our strategy to focus on potential of distribution business and new initiatives to enhance value for stakeholders. Currency derivatives, Commodity derivatives, India International Exchange, Bond Distribution, SME, OFS and IPO have emerged as important market where BSE has acquired a good market share on the back of better technology, excellent services and lower pricing, we have to consolidate our position to acquire good markets in near future”.