Raymond Ltd.

BSE: 500330NSE: RAYMONDEQ58888: raym SMS STO raym to 58888 to get Stock quote on Your mobile IND: Textiles - Woollen/WorstedISIN code: INE301A01014SECT: Textiles

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ManagementHistoryBackgroundListingLocationsBoard MeetingsAGM/EGMDividendsBonusRightsSplitsIPO You can view Announcement Date, Effective Date, Dividend Type (Interim, Final and Special), and Percentage of Dividend given information for Raymond Ltd. Dividends Declared Announcement Effective Date Dividend Type Dividend (%) Remarks Date 21/04/2011 18/05/2011 Final 10% 30/04/2008 30/05/2008 Final 25% 30/04/2007 30/05/2007 Final 50% AGM 04/05/2006 06/06/2006 Final 50% AGM 28/04/2005 30/05/2005 Final 40% 06/05/2004 14/06/2004 Final 55% AGM 24/04/2003 23/05/2003 Final 45% AGM 26/04/2002 29/05/2002 Final 45% AGM 23/04/2001 Final 30% 28/03/2000 Interim 15% 31/05/1999 Final 20% AGM & Dividend 08/05/1998 Final 15% 17/06/1997 Final 10% 14/02/1997 Interim N.A.%

Dividend Policy Are high dividends good or bad? The answer depends upon your personality, financial circumstances and the business itself. In Determining Dividend Payout: When Should Companies Pay Dividends?, you learned that, a company should only pay dividends if it is unable to reinvest its cash at a higher rate than the shareholders (owners) of the business would be able to if the money was in their hands. If company ABC is earning 25% on equity with no debt, management should retain all of the earnings because the average investor probably won't find another company or investment that is yielding that kind of return. At the same time, an investor may require cash income for living expenses. In these cases, he is not interested in long-term appreciation of shares; he wants a check with which he can pay the bills. Double taxation - the political debate over dividends Dividends, like interest, are taxed at a persons individual tax rate. Capital gain taxes, on the other hand, are assessed according to the length of time an investor held his investment and can be as low as half the rate levied on dividends income. This difference in tax treatment is another reason many investors opt for long-term equity holdings that reinvest capital into the business instead of paying it out in the form of a dividend; by avoiding the double-taxation, they can compound their wealth at a faster rate. There is a significant political controversy over the fact that profits paid out as dividends are subject to double-taxation. The corporation paid income taxes on the profit it earned (original tax). The owners of the business then take that profit out for their personal use in the form of a dividend and are taxed at personal income tax rates (second tax). In effect, they have paid the government twice. The proponents of the dividend tax argue that the wealthy, by definition, own significantly more investments than the poor. Therefore, it would be possible for someone to earn billions of dollars in dividend income and not pay a dime in Federal taxes. This, they say, is inherently unfair. The gap between the rich and the poor would explode over night. For more information and potential solutions, read Dividend Tax - The Political Debate: Understanding the Double Taxation Fuss. Dividend Payout Ratio The percentage of net income that is paid out in the form of dividend is known as the dividend payout ratio. This ratio is important in projecting the growth of company because its inverse, the retention ratio (the amount not paid out to shareholders in the form of dividends), can help project a companys growth. Calculating Dividend Payout Ratio Coca-Colas 2003 cash flow statement shows that the company paid $2.166 billion in dividends to shareholders. The income statement for the same year shows the business had reported a net

income of $4.347 billion. To calculate the divided payout ratio, the investor would do the following: $2,166,000,000 dividends paid ---------(divided by)--------$4,347,000,000 reported net income The answer, 49.8%, tells the investor that Coca-Cola paid out nearly fifty percent of its profit to shareholders over the course of the year. Dividend Yield The dividend yield tells the investor how much he is earning on a common stock from the dividend alone based on the current market price. Dividend yield is calculated by dividing the actual or indicated annual dividend by the current price per share. The Washington Post pays an annual dividend of $7 and trades at $910 per share; Altria Group (formerly Philip Morris) pays an annual dividend of $2.72 and trades at $49.75 per share. By calculating dividend yield, the investor can compare the amount he would earn in cash income annually from each security. Washington Post Dividend Yield Calculation $7.00 ----(divided by)---$910 = 0.0077 or 0.77% Altria Group Dividend Yield Calculation $2.72 ----(divided by)---$49.75 = 0.055 or 5.5% In other words, despite the fact that the Washington Post pays a higher per-share dividend, $100,000 invested in its common stock would yield only $770 in annual income as opposed to the same amount invested in Altria Group which would yield $5,500. An investor interested in dividend income and not capital gains should opt for the latter, all else being equal.

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Quarterly

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Dividend Share holding More Capital structures Ratio

Dividend
Year Month Dividend (%) 2011 May 2010 May 2009 Jul 2008 Apr 2007 Apr 10 17 16 15 10

Dividend
Year Month Dividend (%) 2011 Apr 2010 Apr 2009 Oct 2008 Apr 80 70 130 130

Year Month Dividend (%) 2007 Mar 2006 Apr 2005 Apr 2004 Apr 2003 Apr 2002 Sep 2001 Apr 2000 Mar 1999 Apr 1997 Apr 110 100 75 53 50 48 43 40 38 65