This Multibagger Sugar Stock To Turn Ex-Dividend This Week

Dwarikesh Sugar shares were trading with slight gains on April 5, 2022, while most sugar stocks ended higher in today's session. Dwarikesh Sugar will go ex-dividend this week, with the record date for payment of the interim dividend set for April 8, 2022. On March 29, 2022, the company issued an interim dividend of Rs 2 per share (200 percent) for the fiscal year 2021-22. For the previous financial year, the company declared a full and final dividend of Rs. 1.25 per share (125 percent).

On March 29, 2022 the company had informed BSE that "the Board of Directors have fixed Friday, April 08, 2022 as Record Date for the purpose of payment of Interim Dividend at 200 % i.e. Rs 2.00/- per Equity Share of Rs 1/- each declared by the Board of Directors in its meeting held on March 29, 2022 for the Financial Year 2021-22."

As the record date is approaching near, shareholders who acquire units any day before the ex-dividend date will be recorded as stockholders of stocks and their names will appear in the Register of Members of the Company or the records of the Depositories on the record date, entitling them to a dividend payment on their Demat account by April 8, 2022.

The stock opened at Rs 131.05 and closed at Rs 131.15 in today's trading session, resulting in a gain of Rs 1.20 (0.92 percent) on the BSE. The stock has delivered a multibagger return in a year, rising from Rs 30.45 on April 6, 2021 to Rs 131.15 as of 5 Apr 2022, 3:54 pm IST, representing return of 330.71 percent. The stock has climbed by 79.90 percent year to date (YTD). The stock has gained by 78.44 percent in the previous six months and 35.91 percent in the last month.

In a statement, the company informed BSE that it "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. The company 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 first quarter of the next financial year."

"The setting of new distillery will be a new milestone in the history of the company as its operations will be seamlessly & optimally integrated. Setting up of new distillery will improve the sales mix, as it will result in moderation of sugar production while enhancing ethanol production and thus help augmentation of its top-line & bottom-line," the statement reads.

Ponni Sug.Erode (up 5.28 percent), Ugar Sugar Works (up 4.97 percent), Gayatri Sugars (up 4.91 percent), MPDL Ltd (up 4.71 percent), and Dharani Sugars (up 4.23 percent) were the top 5 gainers in today's closing session on the BSE, while Sir Shadi Lal (down 4.78%), Indian Sucrose (down 1.33%), Mawana Sugars (down 1.2%), Bannari Amm.Sugar (down 1.19%) and Riga Sugar Co. (down 1.19%) were the top 5 losers.