Varun Beverages Splits Stock, Declares Interim Dividend

30 Jul 2024 , 01:07 PM

Varun Beverages, PepsiCo’s bottling franchise partner, announced a 2:5 stock split on Tuesday, as well as an interim dividend of ₹1.25 per share for its shareholders, while reporting its June quarter results.

“Sub-division/ split of the existing Equity Shares of the Company, such that each Equity Share having face value of ₹5/- (Rupees Five only) each fully paid-up, be sub-divided/split into such number of equity shares having face value of ₹2/- (Rupees Two only) each fully paid-up, subject to the approval of equity shareholders of the company through Postal Ballot,” the organisation stated in a filing with the stock exchanges.

The corporation will disclose the record date for the stock split later.

Furthermore, the company announced that it will pay an interim dividend of ₹1.25 per share to its eligible shareholders for the fiscal year 2024, with the record date set as August 9, and the dividend payable on and from August 13, according to the filing.

For the second quarter ended June 2024, the firm reported a profit after tax (PAT) of ₹1,261.83 Crore, up 26% year on year (YoY), while revenue increased 28% YoY to ₹7196.86 Crore from ₹5611.4 Crore in the same quarter the previous year.

Varun Beverages’ shares were trading 5% lower at ₹1598.60 on the BSE around 12:15 p.m. today.

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