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Airtel will start paying out dividends from FY24: report
Bharti Airtel should start paying dividends at 20% of profits from the next fiscal year, and it may raise it to 65% of profit by FY27, triggering a re-rating of the stock, said UBS analysts. Singtel and Bharti Telecom will need dividends from Airtel to fund their own dividend and interest payouts, they added. We, therefore, believe Bharti is in a position to and is likely to start to pay dividends from FY24 onwards," UBS said. The telco has indicated it will increase its stake in Indus to get a controlling stake. “Given BTL’s stake of c39% in Bharti Airtel, this will imply a likely need of ₹2,800-3,000 crore of total dividends from Bharti Airtel to ensure BTL is able to pay the required interest," the brokerage said. Source - Mint #airtel
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