FMCG giant, Britannia Industries has declared an interim dividend of ₹72 per equity share for the financial year FY23. In percentage terms, the dividend comes to around a whopping 7200%. Britannia is among the kings of dividend stocks, paying hefty benefits to its shareholders.
In its regulatory filing on Tuesday, Britannia said, "declared an Interim Dividend @ 7200% i.e., Rs. 72/‐ per Equity Share of face value of Re 1 each for the Financial Year 2022‐23."
Also, the FMCG player has set April 13th as the record date for determining eligible shareholders for the ₹72 per share dividend benefit.
The Interim Dividend is subject to deduction/withholding of applicable taxes and will be paid within the stipulated timelines as prescribed under law, it said.
Since the listed stocks are now following the "T+1" settlement option, Britannia shares will turn ex-dividend on the same day as the record date of April 13th.
Simply put, those shareholders whose name appears 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.
Notably, the dividend of FY23 --- is higher by nearly 33% than what was paid in the previous fiscal.
Britannia has a strong track record of paying huge dividend benefits to its investors over the past few years. In FY22, the company paid a 5650% dividend aggregating to ₹56.5 per equity share. The company paid a dividend of ₹12.50 per share (1250%) in FY21.
On 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.
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.
