FMCG Stock at New 52-Week High Sets Record Date for 250% Dividend

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With a market value of Rs. 45,471.98 crore, Patanjali Foods Ltd. is a large-cap company that operates in the Fast Moving Consumer Goods (FMCG) industry. Shares of Patanjali Foods Limited hit a new 52-week high on Friday from 1,266 then closed with a bullish gap of 4.50% at 1,259.95 each. On the trading day, the total stock volume was 1,282,012 shares, which is well below the 20-day average volume of 351,933 shares.

The company’s board of directors had recommended a dividend of 5 per share or 250% at a par value of Rs. 2 per share for the financial year ended 31 March 2022. For this purpose, the record date has been announced by the Board of Directors to determine the eligibility of shareholders to the payment of the dividend. According to available BSE data, September 23, 2022 has been set as the ex-dividend date for dividend purposes, so potential investors are suggested to buy the stock before the ex-ex-date due to T trading regulations. + 2.

The board said in a regulatory filing that “pursuant to Regulation 42 of the SEBI (Registration and Disclosure Requirements) Regulations, 2015, the company’s register of members and share transfer books will remain closed. from Tuesday September 27, 2022 to Thursday September 29, 2022 (both days inclusive) for the purposes of payment of the dividend for the 2021-22 financial year, if declared at the AGM. determine the right of the members of the Company to receive the dividend is Monday, September 26, 2022.”

On Wednesday, Patanjali Foods Limited (formerly Ruchi Soya Industries Limited) announced the construction of a palm oil factory in Niglok industrial growth hub, East Siang district, Arunachal Pradesh. “In Arunachal Pradesh state, we are planning to undertake an oil palm plantation in an area of ​​38,000 ha spread over 9 districts. We have already established 2 nurseries in Pasighat and Holangi and are in the process of establishing 3 more nurseries in Lower Siang district in Kherram, FTC and Dipa. This will give a boost to the economy of the state and bring huge job creation as well as increased income for local farmers,” said the company in an official press release.

“Patanajali Foods has engaged with the government’s NMEO-OP program and factory to undertake large-scale cultivation of oil palm plantations over an area of ​​5 lakh ha in India; of which 3.2 lakh hectare will be in the North East region. Patnajali’s NE Oil Palm program will greatly benefit the state’s economy over the next 30 years, major benefits include: average annual production of around 7.5 lakh MT of palm oil, cost saving ‘about Rs. 10,500 crore in foreign exchange outflows every year and job creation for almost 5.8 lakh people,’ the company said in a regulatory filing.

The stock had hit a 52-week low of 1,021.00 on (25-Jul-22) and at the current market price, the stock is trading 23.40% above the low.

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