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Business News/ Markets / Stock Markets/  Dividend paying stocks: GM Breweries shares to trade ex-dividend on May 9
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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.

GM Breweries stock closed at ₹767.40, up 0.16 per cent, on the BSE on Wednesday.Premium
GM Breweries stock closed at 767.40, up 0.16 per cent, on the BSE on Wednesday.

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.

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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."

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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.

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Published: 09 May 2024, 06:22 AM IST
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