BSES Ltd, now Reliance Energy Ltd, has declared a 10 per cent dividend for the quarter ended June 2003, making it the first listed Indian company to pay quarterly dividend.

The board has approved a proposal to declare dividend of Re 1 per share for the quarter ended June 30, the company said in a release in Mumbai on Tuesday.

BSES' dividend would benefit over 120,000 investors, the release said.

The shareholders whose names appear on books at the end of the business on August 30, 2003 would be entitled for the income payout, it said.

For the first quarter ended June 30, the net profit rose by 11 per cent at Rs 88.2 crore (Rs 79.19 crore April-June 2002) while the total income was up by 14 per cent at Rs 804.04 crore (Rs 704.87 crore).