Zee to announce Q4 earnings, likely dividend payout on May 17
Zee Entertainment Enterprises will meet on May 17, Friday, to consider and approve the company's financial results for the quarter and year ended March 31, 2024. It is also likely to recommend the payment of equity dividend for the financial year 2023-24.
The company announced the development after market hours on Thursday. The stock ended at Rs 132.40 on the NSE, down 1.49%.
Zee shares have corrected by 32% in the past 12 months and this year the decline has been more pronounced due to the failure of the company's merger with Sony.
Sony Group withdrew the agreement to merge its India operations with Zee, scrapping a two-year-old plan that sought to create a $10 billion media giant. The Japanese entertainment firm had made multiple filings to India’s National Company Law Tribunal (NCLT) to pull out of the merger pact with Zee,
Sony had sent the termination notice to Zee on January 22 for failing to meet the merger agreement conditions and sought $90 million in break-up fees. Zee “categorically” denied that it had breached the pact announced in December 2021.
On Monday, ZMCL said its CEO Abhay Ojha was terminated effective May 4, 2024. In regulatory filing, the company said its Board of Directors at their meeting on Monday approved and confirmed the cessation of employment of Ojha from the organisation and his consequent cessation as the Chief Executive Officer effective May 4, 2024, PTI reported.
«On account of termination of employment, Abhay Ojha has ceased to be the Chief Executive Officer of the company,»
