Dividend vs Buyback

Dividend vs Buyback – Kaunsa Option better hai? TCS Buyback se hi hoga Fayda

Dividend vs Buyback

Doston, Aap sabne Dividend aur Buyback ka naam zaroor sunahaoga. Kyun ki share market me paisa lagane waale investors ke liye ye dono hi diwali ki mithia kie jaise hain, jo saal me ek baar aate haain. Ab samajhte hain ke kya hai ye DIvidend aur Buyback. Lekin isse pehle ye jaan lijiye ki Desh ki Number 1 tech consultancy company, TCS, saal me ekbaar shares buyback karti hai aur is saal bhi wo buyback ke decision par vichar kar rahi hai. Agar aap investor hai, to aapke liye ye jaan na bahut zaroori hai ki aakhir ye Buyback aur dividend hai kya aur kaunsa aapke liye better option hai? To poora video end tak zaroor dekhiye aur channel ko subscribe zaroor kijiye.

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Dividend s BUyback

Agar koi company, apne saal bhar ke munafe ka ek hissa, apne investors ko pass on karna chahe, to uske do tareeke hote hai. Dividend vs Buyback

  1. Dividend: Iska matlab hai ke seedha cash benefit ya extra shares ka benefit apne investors ko dena.
  2. Buyback: Iska matlab hai company apne shares komarket me ek certain price se buyback karti hai ya khareed leti hai. Isse market se shares ka volume kam hota hai.

Ap aapka sawaal ye hoga ke kaunse companies ye payout deti hai? Kyun fir aap un companies ke shares ko khareed sakte hai aur ye saal me ekbar hone waale bonus ka fayda utha sakte hain. To doston, blue chip companies, ya badi established companies, jinka business kaafi saalon se established hai aur jinhone apna competitive power prove kiya hua hai market me, wohi companies dividend ya buyback ka rasta lete hain. Aise companies India me gine chune hai, jisme se, TCS ek hai. Yaad rakhiye ki koi bhi nayi company,ya startup, ya growth oriented company aise payouts ya buyback nahi deti.

Har company apne saal ke profits ka ek hissa retained earning ka taur par save karti hai, growth oriented companies in paiso ko naye business ventures me, ya fir apne cash reserve ke taur par use karti hai. Lekin blue chip companies in paiso ka ek hissa apne investors ko dividend ke tareeke se deti hai. Ya fir usi paiso se apne shares ko buy back karte hai, aur dono tareeke se investors ko fayda pahuchta hai. Lekin kisme aapka fayda zyada hai? Aayie, isko samajhte hain.

Practical Example- Dividend vs Buyback

Samjhiye ke company A ka market capitalization 10 Billion ka hai, inke shares 20 InR par trade kar rahe hai, ek saal me inko 10 billion ka profit hua hai. Inka net income margin 10% hai for a net income yaani – income after tax of 1 Billion. The earnings per share are INR2 per share (or $1 billion in profit/500 million shares). As a result, the stock is trading at a price-to-earnings multiple (P/E) of 10 (or 20 / 2 = INR10).

Ab ye company ne socha hai ke ye apna poora net income of 1 Billion ko apne shareholders me baant degi. Kaise hoga ye?

Scenario 1- Dividend Payout-Dividend vs Buyback

Dividend vs Buyback, Ab sochiye ke company ne 1 billion dividend diya, jiska matab hua INR 2 per share. Ab aapne agar 1000 shares khride the 20 INR per share ke bhaav par, yaani aapne kul invest kiya tha 20000 INR. Ab company ke dividend ke hisaab se  aapko milega 2*1000 yaani 2000 INR. Ye dividend taxable hai, agar 15% ka tax rate pakad ke chalte hai to 2000 me aapka tax katega 300 INR, yaani aapko milega 1700 Net dividend. To iska profit margin hua 1700/20000 yaani 8.5% return on investment.

BUyback Scenario- Dividend vs Buyback

Ab samajhte hain doosra option, yaani company, 1 billion INR se apne shares buyback karti hai. Buyback ka duration kuch bhi ho sakta hai aur price bhi alag ho sakta hai market price se, lekin, hum pakad te hain ki company ke 20 ke bhaav me bulk shares khareede hain, yaani 50 Million shares ko buyback kiya hai. To is buyback ke baad market me shares ka volume 500 million se kam hokar 450 million hoga. Abhi aapne jo 1000 shares 20INR ke bhaav pe liya tha uska valuation over the time badh jayega kyun ki number of shares kam ho gaye hain. Agar ek saal ke baad Net revenue and Net profit same rehta hai, yaani 10 billion and 1 billion, to fir 450 million shares ka earning per share hoga 2.22 INR. Agar Price to Earnings ratio same rehta hai, yaani 10, to fir shares abhi trade honge 22.2 INR par. TO abhi agar aapne apna 1000 shares becha, to aapko milega 2220 INR ka net munafa. Isme 15% ka tax laga to aapne haat me aaya net profit 2220 -333 = 1887 INR, Aur aapka after tax profit hoag 1887/20000 =9.4%jo dividend payout se zyada hai.

Kehna kya chahte ho bhai?

Kul milake ye kehna hai ke Buybak me immediate taxation nahi hota. Jab aap shares ko bechte hai tab hota ha taxation. Isliye agar company ke performance par koi bura asar nahi aaya, aur compay profit me chalti rahi, to dividend payout se Buyback me hamesha aapkozyada munafa hoga. Lekin agar company kisi wajah se loss me gayi aur agle ek do saal me uska net profit gir gaya, to fir EPS gir jayega aur aapka profit nahi hoga. Lekin Blue chip companies, jo aisa dividend deti hai, unke saath aisa nahi hota normally. To hum keh sakte hain ki Buyback hi investor ske liye better option hai. Dividend vs Buyback

TCS buyback me kya hoga?

Doston TCS bahut badi company hai aur desh ki no 1 TEch company hai (IT consultancy). Har saal TCS apne kuch shares ka buyback karti hai, is saal bhi wohi hoga. Pichla buyback 14 mahine pehle hua tha. Isliye agar aap TCS ka shares lenge ya le chuke hai, to long term me fayda hoga.

Lekin is baar ka maamla thoda alag bhi ho sakta hai. EPIC systemske caseme TCS ko $140 million ka penalty dena pad sakta hai aur isi wajah se TCS ne apne quarter results me 1800 Crore ke ass pass nikal ke rakha hai. Aur sirf yehi nahi, TCS ke upar aur bhi kuch cases US me ho chuke hai aur iscase ke final hearing me agar TCS haarta hai, to fir US me TCS ka business thoda problemtaic ho saktahai. Isi wajah se shayad short term me, yaani EPIC case ke final verdict ke baad shayad TCS shares thoda niche jaye, lekin long term me TCS zaroor isko sambhal payegi aur Buyback se aapko definitely fayda mil sakta hai. Dividend vs Buyback

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