Dividend

Analysis
Group 14
Praveen PGP14056
PraveenKumar J R- PGP14057
Rithuraj PGP14058

Dividend Analysis
Group 14
Praveen PGP14056
PraveenKumar J R- PGP14057
Rithuraj PGP14058

Return

= (P1 P0)/P0 + D1/P0

= Capital Gain Yield + Dividend

Yield

TAJ GVK HOTELS & RESORTS

Dividends Declared
Announcem
ent
Date

Effecti
ve
Date

Divide
nd
Type

Divide
nd
(%)

Remarks

12-05-14

24-0714

Final

10.00

Rs.0.2000 per
share(10%)Dividend

30-04-13

23-0713

Final

25.00

Rs.0.5000 per
share(25%)Dividend

30-04-12

19-0712

Final

75.00

28-04-11

20-0711

Final

100.00

27-04-10

21-0710

Final

100.00

04-05-09

20-0709

Final

100.00

29-04-08

24-0708

Final

160.00

AGM

25-04-07

19-0707

Final

150.00

AGM

25-04-06

20-0706

Final

100.00

AGM

26-04-05

21-0705

Final

45.00

AGM

28-04-04

20-0704

Final

15.00

AGM

14-01-04

29-01-

Interim

15.00

04
23-04-03

22-0503

Interim

20.00

23-04-02

19-0602

Interim

15.00

23-05-02

19-0602

Interim

15.00

28-07-01

31-0801

Final

10.00

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 2014
For 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 follows
Splits 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 Date

Old FV

New FV

Ex-Split Date

02-09-2005

10

10-10-2005

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
Announcem
ent
Date

Effecti
ve
Date

Divide
nd
Type

Divide
nd
(%)

Remarks

07-01-15

22-0115

Interim

250.00

Rs.5.0000 per
share(250%)Interim Dividend

17-04-14

21-0714

Final

250.00

Rs.5.0000 per
share(250%)Final Dividend (B
C Dates has been revised from
01/07/2014 to 23/07/2014)

13-01-14

22-0114

Interim

150.00

Rs.3.0000 per
share(150%)Interim Dividend

19-04-13

27-0613

Final

250.00

Rs.5.0000 per
share(250%)Final Dividend

15-01-13

23-0113

Interim

100.00

Rs.2.0000 per
share(100%)Interim Dividend

25-04-12

28-0612

Final

200.00

10-01-12

24-0112

Interim

100.00

27-04-11

29-0611

Final

200.00

17-01-11

27-0111

Interim

100.00

23-04-10

15-0610

Final

300.00

(Revised from BC 01/07/2010

to 22/07/2010)

22-04-09

29-0609

Final

200.00

21-04-08

27-0608

Final

200.00

AGM

10-10-07

25-1007

Interim

100.00

20-04-07

28-0607

Final

50.00

AGM

14-03-07

26-0307

Interim

250.00

19-04-06

29-0606

Final

250.00

AGM

22-04-05

29-0605

Final

250.00

AGM

16-04-04

06-0504

Final

1,450.0
0

17-04-03

01-0703

Final

50.00

AGM

19-04-02

28-0602

Final

50.00

AGM

20-04-01

18-0601

Final

25.00

The Board has also proposed a

Final Dividend of Rs 4 per
share and an one time
dividend of Rs 25 per share.

Dividend Summary
For 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 = Dividend
B = 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
Announcem
ent
Date

Effecti
ve
Date

Divide
nd
Type

Divide
nd
(%)

Remarks

12-01-15

06-0215

Interim

75.00

Rs.0.7500 per
share(75%)Interim Dividend

16-04-14

02-0514

Interim

75.00

Rs.0.7500 per
share(75%)Second Interim
Dividend

08-10-13

30-1013

Interim

65.00

Rs.0.6500 per
share(65%)Interim Dividend

11-04-13

03-0513

Interim

60.00

Rs.0.6000 per
share(60%)Second Interim
Dividend

17-01-13

06-0213

Interim

60.00

Rs.0.6000 per
share(60%)Interim Dividend

24-05-12

04-0612

Interim

70.00

Second Interim Dividend

29-02-12

20-0312

Interim

60.00

14-07-11

02-0811

Interim

60.00

Second Interim Dividend

10-01-11

25-0111

Interim

50.00

09-07-10

26-0710

Interim

50.00

Second Interim Dividend

07-01-10

25-0110

Interim

70.00

11-06-09

29-0609

Interim

70.00

Interim Dividend for the year

ended 31.03.2009.

02-07-08

06-0808

Final

70.00

AGM

28-06-07

10-0807

Final

15.00

10-10-06

27-1006

Interim

70.00

19-06-06

03-0706

Interim

60.00

Second Interim Dividend

14-10-05

31-1005

Interim

70.00

20-05-05

03-0605

Final

60.00

07-10-04

29-1004

Interim

70.00

12-04-04

29-0404

Interim

70.00

Second Interim Dividend

14-10-03

30-1003

Interim

60.00

13-05-03

13-0603

Interim

70.00

Second Interim Dividend &

AGM

25-09-02

23-1002

Interim

50.00

29-06-02

12-0902

Final

0.00

AGM & Nil Final Dividend

29-07-02

12-0902

Final

0.00

AGM & Nil Final Dividend

06-02-02

22-0202

Interim

90.00

30-07-01

29-0801

Final

80.00

AGM

Dividend Summary
For 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 = Dividend
B = 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 gains