Dividend Analysis

Dividend Analysis

Group 14

Praveen PGP14056PraveenKumar J R- PGP14057Rithuraj PGP14058

Dividend Analysis

ii

Dividend Analysis

Group 14

Praveen PGP14056PraveenKumar J R- PGP14057Rithuraj PGP14058

Return = (P1 P0)/P0 + D1/P0 = Capital Gain Yield + Dividend Yield

TAJ GVK HOTELS & RESORTS

Dividends Declared

AnnouncementDateEffectiveDateDividendTypeDividend(%)Remarks

12-05-1424-07-14Final10.00Rs.0.2000 per share(10%)Dividend

30-04-1323-07-13Final25.00Rs.0.5000 per share(25%)Dividend

30-04-1219-07-12Final75.00-

28-04-1120-07-11Final100.00-

27-04-1021-07-10Final100.00-

04-05-0920-07-09Final100.00-

29-04-0824-07-08Final160.00AGM

25-04-0719-07-07Final150.00AGM

25-04-0620-07-06Final100.00AGM

26-04-0521-07-05Final45.00AGM

28-04-0420-07-04Final15.00AGM

14-01-0429-01-04Interim15.00-

23-04-0322-05-03Interim20.00-

23-04-0219-06-02Interim15.00-

23-05-0219-06-02Interim15.00-

28-07-0131-08-01Final10.00-

Source :Dion Global Solutions Limited

As is evident from the above line of dividend payments, the amount paid as dividend in 2015 has considerably decreased from the 2008 levels. This is attributed to the decreasing EBITDA.As the revenue decreases, so is the amount available to payout the dividends The managers tried to stabilize the dividend payout to constant levels from 2009,which should have been the strategy adopted from the onset. But due to the decreasing PAT ,the levels were not sustainable and hence the dividends reduced

Capital Gains

The decrease in dividend yield is not compensated through capital gains,instead its is gone down the spiral as well. Looking at this scenario , the large amounts of interim dividends paid out could have been retained either as cash reservers or used to invest in other activities to hedge the negative spiral they are in right now.

Dividend Summary as on March 2014For the year ending March 2014, Taj GVK Hotels & Resorts has declared an equity dividend of 10.00% amounting to Rs 0.2 per share. At the current share price of Rs 76.40 this results in a dividend yield of 0.26%.

The company has consistently declared dividends for the last 5 years.It still is paying out paying dividends despite the decrease in revenues

Taj had one instance of stock split happening in 2005.The details are as followsSplits Summary Taj GVK Hotels & Resorts had last split the face value of its shares from Rs 10 to Rs 2 in 2005.The share has been quoting on an ex-split basis from October 10, 2005.Splits History (Taj GVK Hotels & Resorts)

Announcement DateOld FVNew FVEx-Split Date

02-09-200510210-10-2005

MONTE CARLO

Monte Carlo Fashions has no history of paying out dividends .They have very recently listed themselves on the exchange

But the shareholders have enjoyed good capital gains on their investments.Looking at the recent stock performance ,the companys performance has resulted in a steep increase in the price With an outlook of the performance continuing ,the shareholders tend to gain in terms of capital gains

WIPRO Dividend Policy

Dividend Declared

AnnouncementDateEffectiveDateDividendTypeDividend (%)Remarks

07-01-1522-01-15Interim250.00Rs.5.0000 per share(250%)Interim Dividend

17-04-1421-07-14Final250.00Rs.5.0000 per share(250%)Final Dividend (B C Dates has been revised from 01/07/2014 to 23/07/2014)

13-01-1422-01-14Interim150.00Rs.3.0000 per share(150%)Interim Dividend

19-04-1327-06-13Final250.00Rs.5.0000 per share(250%)Final Dividend

15-01-1323-01-13Interim100.00Rs.2.0000 per share(100%)Interim Dividend

25-04-1228-06-12Final200.00-

10-01-1224-01-12Interim100.00-

27-04-1129-06-11Final200.00-

17-01-1127-01-11Interim100.00-

23-04-1015-06-10Final300.00(Revised from BC 01/07/2010 to 22/07/2010)

22-04-0929-06-09Final200.00-

21-04-0827-06-08Final200.00AGM

10-10-0725-10-07Interim100.00-

20-04-0728-06-07Final50.00AGM

14-03-0726-03-07Interim250.00-

19-04-0629-06-06Final250.00AGM

22-04-0529-06-05Final250.00AGM

16-04-0406-05-04Final1,450.00The Board has also proposed a Final Dividend of Rs 4 per share and an one time dividend of Rs 25 per share.

17-04-0301-07-03Final50.00AGM

19-04-0228-06-02Final50.00AGM

20-04-0118-06-01Final25.00-

Dividend SummaryFor the year ending March 2014, Wipro has declared an equity dividend of 400.00% amounting to Rs 8 per share. At the current share price of Rs 669.00 this results in a dividend yield of 1.2%.The company has a good dividend track report and has consistently declared dividends for the last 5 years.* Dividend Yield: (Dividend per share / Current Share Price)

Last Five Year Dividend Policy representation of Wipro.D = DividendB = Bonus Issue

Wipro is a really lucrative opportunity to invest considering the steady dividend payment rolled out and also considering they are growing in terms of revenue year on year can make us forecast that the dividend payments are going to be on a steady upward spiral in the coming years

Last Five Year EBITDA, PBT and PAT representation of Wipro

The increase in EBITDA are welcoming signs ,which signal solid dividend payouts in the future

Also considering the increase in share price the shareholders stand to capitalize on a combination of capital and dividend yields

TVS MOTORS Dividend Policy

Dividend Declared

AnnouncementDateEffectiveDateDividendTypeDividend (%)Remarks

12-01-1506-02-15Interim75.00Rs.0.7500 per share(75%)Interim Dividend

16-04-1402-05-14Interim75.00Rs.0.7500 per share(75%)Second Interim Dividend

08-10-1330-10-13Interim65.00Rs.0.6500 per share(65%)Interim Dividend

11-04-1303-05-13Interim60.00Rs.0.6000 per share(60%)Second Interim Dividend

17-01-1306-02-13Interim60.00Rs.0.6000 per share(60%)Interim Dividend

24-05-1204-06-12Interim70.00Second Interim Dividend

29-02-1220-03-12Interim60.00-

14-07-1102-08-11Interim60.00Second Interim Dividend

10-01-1125-01-11Interim50.00-

09-07-1026-07-10Interim50.00Second Interim Dividend

07-01-1025-01-10Interim70.00-

11-06-0929-06-09Interim70.00Interim Dividend for the year ended 31.03.2009.

02-07-0806-08-08Final70.00AGM

28-06-0710-08-07Final15.00-

10-10-0627-10-06Interim70.00-

19-06-0603-07-06Interim60.00Second Interim Dividend

14-10-0531-10-05Interim70.00-

20-05-0503-06-05Final60.00-

07-10-0429-10-04Interim70.00-

12-04-0429-04-04Interim70.00Second Interim Dividend

14-10-0330-10-03Interim60.00-

13-05-0313-06-03Interim70.00Second Interim Dividend & AGM

25-09-0223-10-02Interim50.00-

29-06-0212-09-02Final0.00AGM & Nil Final Dividend

29-07-0212-09-02Final0.00AGM & Nil Final Dividend

06-02-0222-02-02Interim90.00-

30-07-0129-08-01Final80.00AGM

Dividend SummaryFor the year ending March 2014, TVS Motor Company has declared an equity dividend of 140.00% amounting to Rs 1.4 per share. At the current share price of Rs 301.75 this results in a dividend yield of 0.46%. The company has a good dividend track report and has consistently declared dividends for the last 5 years.

Dividend Yield: (Dividend per share / Current Share Price)

Last Five Year Dividend Policy representation of TVS Motors.D = DividendB = Bonus Issue

The share price is on a solid upward spiral due to a combination of factors on the basis of the companys performance.This has resulted in a potential for high capital gains for the share holders.Another thing to be looked out is they have also payed out dividends on a regular basis and the dividend payments have been steady.So future dividends payouts would be in the same range

Last Five Year EBITDA, PBT and PAT representation of TVS Motors.

A steady revenue as observed above points that the share holders would have a solid payouts in terms of dividends So TVS Motors is one where the shareholder stands to gain both in terms of dividend yields and capital gainsDividend Analysis

1

Dividend Analysis

2