Large-Cap Stock Up 93% in 1-Yr Declares Final Dividend: Amount?
By Malvika Gurung
Investing.com -- The second largest bottling company of PepsiCo (NASDAQ: PEP )'s beverages in the world Varun Beverages (NS: VARB ) announced a final dividend for the financial year ending on December 31, 2023, while releasing its earnings for the December quarter on Monday.
The company’s Board of Directors recommended a final dividend of Re 1/equity share having a nominal value of Rs 10 each for the financial year ending on Dec 31, 2023, to its shareholders.
The beverage producer and distributor has said that it will set the Record Date for the corporate reward after taking approval of its shareholders at the ensuing annual general meeting (AGM) of the company.
With this, the total dividend declared by Varun Beverages in the year ending on Dec 31, 2022, stands at Rs 3.50/share of the face value of Rs 10 each.
The company will hold its 28th AGM on Monday, March 27, 2023, through video conferencing at a common venue.
The large-cap company’s stock has rallied 92.6% in the past one year and closed 5.8% higher at Rs 1,221.85 apiece on Monday.
Varun Beverages’ net profit in Q4 CY22 soared by 150.15% YoY to Rs 81.5 crore, an increase in prices and higher demand for expensive beverages, including the Sting energy drink, along with the festive season and delayed winter in the period.
Continue Reading: Varun Beverages’ Profit Rallies 150% in Dec Quarter, EBITDA Jumps 48%
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