Outcome of Board Meeting- Approved the payment of interim dividend on NCRPS and redemption of these NCRPS
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Music Broadcast Limited (which runs Radio City) has announced the redemption of all 89,69,597 Non-Convertible Redeemable Preference Shares (NCRPS) it had issued earlier. These preference shares, issued at ₹100 each (face value ₹10 + premium ₹90) under a court-approved scheme, are reaching the end of their 36-month term on January 19, 2026. The company will redeem them at ₹120 per share, giving holders a ₹20 redemption premium over face value. The Board has also approved a tiny interim dividend of 0.1% (₹0.01 per NCRPS) for FY26. The record date for both the dividend and the redemption payout is January 9, 2026. Importantly, this announcement relates only to the preference shareholders — not to the company's regular equity shareholders.
This is a routine, pre-scheduled closure of a preference share instrument and does not directly benefit or affect equity shareholders. No equity dividend has been declared. The redemption will reduce the company's preference share liabilities, which is mildly positive for the balance sheet, but is unlikely to move the equity stock price meaningfully.