Tips Music Falls 5% As Stock Trades Ex-Dividend Today; Key Details Inside

Shares of Tips Music, a prominent media and entertainment company, declined by 5.33% to hit an intra-day low of Rs 595.80 on the National Stock Exchange (NSE) on Tuesday, January 28, 2025. The drop aligns with the company’s shares turning ex-dividend today, following its announcement of dividend rewards for shareholders.

Third Interim Dividend Announced

In an exchange filing, Tips Music stated that its Board of Directors has declared a third interim dividend of Rs 3 per equity share (300%) for the financial year 2024-2025. The dividend is applicable on fully paid-up equity shares with a face value of Rs 1 per share.

The record date for determining shareholder eligibility for the dividend payment is January 28, 2025. As per the company, the interim dividend will be disbursed on or before February 18, 2025.

Previously, the company had paid interim dividends of Rs 2 per share on two separate occasions in the same fiscal year. At the current market price, Tips Music’s dividend yield stands at 1.14%.

Performance Metrics and Market Overview

As of January 28, 2025, Tips Music boasts a market capitalisation of Rs 7,767.69 crore on the NSE. The company is a part of the Nifty Media Index, reflecting its strong presence in the media and entertainment sector.

Over the past year, the company’s shares reached a 52-week high of Rs 950 (also an all-time high) on November 6, 2024, and a 52-week low of Rs 345.50 on June 4, 2024. Despite showing flat returns over the past six months, Tips Music’s shares have delivered a robust 38% return over the past year.

At 12:09 PM on Tuesday, Tips Music shares were trading at Rs 617.30, down 1.45% from the previous close of Rs 629.40. Nearly 0.26 million equity shares worth Rs 16.17 crore had been traded on the NSE and BSE combined by that time.

This significant dividend announcement reinforces Tips Music's commitment to shareholder value, even as its shares face short-term volatility.