Expensive Stock of Rs 37,510/Share Declares 4th Interim Dividend

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Expensive Stock of Rs 37,510/Share Declares 4th Interim Dividend
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The exclusive licensee of the Jockey brand in India, Page Industries (NS: PAGE ) declared a fourth interim dividend for the financial year 2022-23.

The Board of Directors of Page Industries announced a fourth interim dividend of Rs 60 per equity share while releasing its earnings for the quarter ended March 31, 2023.

The mid-cap company’s Board has fixed the record date for determining shareholders eligible for the said interim dividend as June 2, 2023. The dividend will be paid to eligible shareholders of Page Industries on or before June 23, 2023.

For the full financial year 2022-23, the innerwear and socks manufacturer’s Board of Directors declared total interim dividends of Rs 60, Rs 70, Rs 60 and Rs 60 per share in August 2022, November 2022, February 2023 and May 2023, respectively.

This takes the total interim dividend declared by Page Industries in FY23 to Rs 250 per equity share.

The highly-priced stock of Rs 37,510/share plummeted 15% in the previous session as investors reacted to its poor earnings for the March-ended quarter, with PAT falling 59% YoY to Rs 78.4 crore and EBITDA shedding almost 50% YoY to Rs 134.5 crore in the period.

The company’s PAT margin contracted significantly to 8.1% in Q4 FY23 as compared to 17.1% in Q4 FY22.

Read Also: Page Industries Plummets 15% to New 52-Wk Low on Poor Q4 Show

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