Dividend paying stocks: GM Breweries shares to trade ex-dividend on May 9
GM Breweries’ Board of Directors has declared a final dividend of ₹7.00 per equity share for its eligible shareholders.
Dividend stocks: Shares of GM Breweries Ltd will be in focus when the stock market opens on May 9 (Thursday), when it will trade ex-dividend. The company has declared a final dividend of ₹7.00 per equity share for its eligible shareholders.
ALSO READ: This construction firm's stock skyrocketed over 1390% in 3 years, shot up 3790% in 5 years
The record date by the company to ascertain the eligibility of shareholders for the dividend has been fixed on May 9.
In a stock exchange filing, GM Breweries Ltd said: “The Board of Directors of the Company have proposed/ recommended subject to approval of Members a dividend @ 70% i.e. Rs.7/- per equity share of Rs.10 each.”
Q4 results
GM Breweries’ net profit rose to ₹86.6 crore in the fourth quarter (Q4) ended March 31, 2024, from ₹35.1 crore a year ago.
The increase in bottomline can be attributed to a sharp rise in other income, which rose to ₹70 crore from ₹15 crore in the year-ago period.
Its revenue surged by 2.1 per cent from last year to ₹159.2 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 19.7 per cent year-on-year to ₹25.2 crore owing to higher expenses and finance costs. EBITDA margin also narrowed to 15.8 per cent from 20.1 per cent last year.
The selling, general and administrative expenses showed a 3.8 per cent decline quarter-on-quarter, but rose by 5.98 per cent year-on-year.
Operating income recorded a 1.3 per cent decrease sequentially, and a 21.41 per cent decline year-on-year for GM Breweries.
The earnings per share (EPS) for Q4 FY24 stood at ₹47.4, marking a significant 146.72 per cent increase year-over-year.
The company also announced bonus shares for its shareholders.
The issue of bonus shares is expected to be completed within two months.
GM Breweries stock closed at ₹767.40, up 0.16 per cent, on the BSE on Wednesday.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High