FMCG behemoth Varun Beverages announces final dividend, record date fixed
1 min read 28 Mar 2023, 06:32 PM ISTVarun Beverages is a large-cap FMCG company that recorded a market cap of ₹87,924.18 Cr today.
PremiumVarun Beverages is a large-cap FMCG company that recorded a market cap of ₹87,924.18 Cr today. It is the second largest operator in the world of carbonated soft drinks and non-carbonated beverages supplied under brands registered by PepsiCo.
“This is to inform you that pursuant to the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors fixed Wednesday, April 12, 2023 as the Record Date, for the purpose of ascertaining the eligibility of Equity Shareholders entitled for receipt of Final Dividend of Re. 1/- per Equity Share of face value of Rs. 10/- each for the Financial Year ended December 31, 2022 as approved by the Equity Shareholders of the Company at their Annual General Meeting held on March 27, 2023. The Final Dividend will be paid on and from Thursday, April 13, 2023 to those shareholders whose name appears in the Register of Members of the Company or in the list of beneficial owners maintained by the Depositories as on Wednesday, April 12, 2023," said the Board of Directors of Varun Beverages in a stock exchange filing today.
For the year ending December 2022 Varun Beverages has declared an equity dividend of 35.00% at a face value of ₹10 which is equivalent to ₹3.5 per share. At the current share price of ₹1,353, this generates a dividend yield of 0.25%. The firm has a strong dividend track report and has routinely paid dividends for the previous 5 years. According to Trendlyne statistics, Varun Beverages Ltd. has issued 6 dividends since August 16, 2017, and during the last 12 months, an equity dividend of ₹2.50 per share has been announced. At the current share price of ₹1353, this generated a dividend yield of 0.18%.
The shares of Varun Beverages closed today on the NSE at ₹1,353.00 apiece level, down by 0.43% from the previous close of ₹1,358.80. The stock recorded a total volume average of 6,75,360 shares compared to the 20-Day average volume of 1,317,406 shares. The stock touched a 52-week-high of ₹1,432.45 on (12-Dec-2022) and a 52-week-low of ₹616.67 on (28-Mar-2022). During Q3FY23, the company recorded a promoter shareholding of 63.90%, FIIs stake of 26.45%, DIIs stake of 3.42% and a public stake of 6.20%.
