ICRA Limited on May 21, 2026, announced a final dividend of ₹105 per equity share for the financial year ended March 31, 2026, following a Board meeting that also approved the company's full-year financial results. The dividend represents a 75% increase over the ₹60 per share paid in FY25, making it one of the more significant year-on-year dividend jumps in the company's recent history.

Dividend Details and Yield

At the current market price of ₹5,490, the declared dividend translates to a dividend yield of approximately 1.91%. The face value of each ICRA equity share is ₹10, placing the dividend at 1,050% of face value. The dividend is classified as a final dividend for FY26 and remains subject to shareholder approval at the upcoming Annual General Meeting before it is formally paid out.

Historical Dividend Trend

ICRA's dividend history over the past several years reveals a volatile but broadly upward trajectory:

The data shows that ICRA scaled up payouts meaningfully from FY22 onwards, reaching a peak of ₹130 in FY23. The FY25 payout of ₹60 was the weakest in three years, making the FY26 recovery to ₹105 notable. However, the current payout remains below the FY23 peak, indicating the company has not yet returned to its highest distribution levels.

Market Context and Valuation

ICRA shares closed at ₹5,490 on May 21, 2026, up ₹70.50 or 1.30% on the day. The stock is trading at a price-to-earnings ratio of 28.15, marginally above the sector PE of 27.5, suggesting a slight premium to peers in the financial services and credit rating space. The company's market capitalisation stands at ₹5,298.53 Cr.

In terms of 52-week price range, the stock touched a high of ₹7,130 on July 16, 2025, and a low of ₹4,965.50 on April 2, 2026. At ₹5,490, the stock is trading 22.9% below its 52-week high and approximately 10.6% above its 52-week low, placing it in the lower half of its annual range.

Trading Activity and Delivery Data

On the announcement day, ICRA recorded a trading volume of 2,771 shares on NSE, with a delivery percentage of 43.77%. A delivery ratio approaching 44% in a relatively low-volume session indicates that a meaningful proportion of trades reflect positional or longer-term interest rather than purely intraday activity. Daily volatility is recorded at 1.47%, which is moderate for a mid-cap financial stock.

Company Background

ICRA Limited is one of India's premier credit rating agencies, operating as an associate of Moody's Investors Service. The company provides ratings, research, and risk advisory services across corporate, financial sector, and structured finance segments. Its consistent dividend payouts, backed by an asset-light business model and recurring revenue streams, have historically made it a watched name among income-oriented investors in the financial services space.

Shareholders on record as of the book closure date, yet to be announced, will be eligible for the ₹105 per share payout following AGM approval.