Britannia declares dividend of Rs 72 per share

5 Apr 2023 , 09:30 AM

Britannia Industries Limited informed that the board of directors of the company have approved an interim dividend of Rs 72 per share for the financial year ended March 31, 2023.

The company said in its exchange filing that, “the eligibility of shareholders for payment of interim dividend will be determined on Thursday, April 13, i.e., the record date.”

For FY23, this is the first dividend announced by the company and the highest in a time span of 3 years.

In May 2022, the company has paid a dividend of Rs 56.50 per share. 

The company’s highest dividend payout in its history of going public was in August 2020, when it paid Rs 83 per share.

Britannia’s dividend payment could be linked to the one-time profit it made in the December quarter by selling its stake in the French dairy subsidiary, Bel SA.

By selling its 49% stake in the joint venture firm, the company earned a one-time gain of Rs 376 crore.

At around 9.30 AM, Britannia Industries was trading at Rs 4,330.70 per piece, against the previous close of Rs 4,324.05 on NSE.

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