Dwarikesh Sugar to pay interim dividend of Rs2 per share for current fiscal; stock down ~2%

29 Mar 2022 , 03:07 PM

The Directors of Dwarikesh Sugar Industries Limited have announced an interim dividend of Rs2 per share (200%) for the financial year 2021-22. The company had announced a full and final dividend of Rs1.25 per share (125%) for the previous financial year.

We are pleased to consider rewarding our shareholders with an interim dividend for the current financial year,” says Mr. Vijay S Banka, Managing Director of the company. “This follows an improvement in our performance during the current financial year so far and a commitment of our management to reward our shareholders without compromising its capacity to reinvest its accruals to enhance business sustainability.”

The company had earlier made a decisive investment in its distillery business at its distillery unit in Dwarikesh Nagar (DN) which has now been debottlenecked to produce 162.5 KLPD of industrial alcohol.

It is presently engaged in executing a 175 KLPD distillery project at its Dwarikesh Dham (DD) unit which is expected to be commissioned by the end of the first quarter of the next financial year.

Dwarikesh Sugar is currently trading at Rs121.50 down by Rs1.95 or 1.58% from its previous closing of Rs123.45 on the BSE. The scrip has touched intraday high and low of Rs125.05 and Rs120.35 respectively.