Key Points of Britannia Industries Interim Dividend:
- Britannia Industries declares an interim dividend of ₹72 per equity share for FY23, which amounts to a staggering 7200% in percentage terms.
- The company sets April 13th as the record date for determining eligible shareholders for the dividend benefit.
- The dividend is subject to applicable tax deductions and will be paid within the stipulated timelines as prescribed under law.
- Shareholders whose names appear in the registrar of the company on exchanges and respective depository on April 13th will be entitled to receive the interim dividend of ₹72 per share, which is 33% higher compared to the previous fiscal year.
- Britannia has a consistent track record of paying huge dividend benefits to its investors over the past few years, including a dividend yield of around 1.3% at the current market price.
- In Q3FY23, the company’s consolidated sales grew by 16%, operating profit climbed by 55%, and net profit soared by 151%, highlighting its commitment to shareholder value and growth trajectory.
Details of Britannia Industries Interim Dividend:
Britannia Industries, a leading FMCG player, has announced an interim dividend of ₹72 per equity share for FY23. The dividend translates to a staggering 7200% in percentage terms. This move cements Britannia’s position as one of the top dividend-paying stocks, offering generous benefits to its shareholders.
According to Britannia’s regulatory filing on Tuesday, the company declared an Interim Dividend @ 7200%, which is equivalent to Rs. 72/- per Equity Share of face value of Re 1 each for the Financial Year 2022-23. The record date for determining eligible shareholders for the dividend benefit has been set to April 13th.
The Interim Dividend is subject to applicable tax deductions and will be paid within the stipulated timelines as prescribed under law. As listed stocks follow the “T+1” settlement option, Britannia shares will turn ex-dividend on April 13th, the same day as the record date.
Shareholders whose names appear in the registrar of the company on exchanges and respective depository on April 13th will be entitled to receive the interim dividend of ₹72 per share. It is noteworthy that this dividend is higher by almost 33% compared to the previous fiscal year.
Over the past few years, Britannia has consistently paid huge dividend benefits to its investors. In FY22, the company paid a 5650% dividend aggregating to ₹56.5 per equity share. In FY21, the company paid a dividend of ₹12.50 per share (1250%).
On the BSE, Britannia’s share price closed at ₹4,328.25 apiece, marginally up by ₹7.80 or 0.18%. The company’s market cap is over ₹1.04 lakh crore, and at the current market price, Britannia’s dividend yield is around 1.3%.
In Q3FY23, Britannia’s consolidated sales grew 16% to ₹4,101 crore, operating profit climbed 55% to ₹760 crore, and net profit soared by a whopping 151% to ₹932 crore. These impressive financial results underscore the company’s commitment to shareholder value and its growth trajectory.
About Britannia Industries:
Britannia Industries, a member of the Wadia Group led by Nusli Wadia, is an Indian food company that has been in existence since 1892. The company, based in Kolkata, is one of India’s oldest and is well-known for its range of biscuit products.
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