Britannia, the packaged foods major alongside announcing its quarterly results also declared final dividend for the fiscal year ended 2022. The company in the BSE filing today said that "the Board of Directors of the Company at its meeting held on May 02, 2022, inter alia, has recommended the final dividend for the financial year ended March 31, 2022 @ 5650% i.e., Rs. 56.50 (Rupees Fifty Six and Fifty Paise Only) per equity share of Re. 1/- each to be declared at the 103rd Annual General Meeting of the Company. The dividend if declared will be paid/dispatched (subject to deduction/withholding of applicable taxes) within the time prescribed under law.
Britannia Industries dividend history
The company has a good track record of paying dividends consistently. For the previous Fy ended 2021, the company announced dividend of 15750% or Rs. 157.5 per share that considering the current share price turns out to be good dividend yield of 4.81 percent.
Britannia Q4Fy22 results
For the March ended quarter of Fy 2022, the company's total revenue from operations saw a decline sequentially to Rs. 3604.28 crore as against Rs. 3630.11 crore in the December ended quarter.The same a year ago during the corresponding period had been at Rs. 3193.9 crore. Net profit however registered an increase both sequentially as well as YoY to Rs. 377.95 crore.
"In this quarter, we delivered a robust top-line growth of 15 percent and a mid-single-digit volume growth, which demonstrates the resilience of our brands and a reflection of our execution strengths across divisions and channels," managing director Varun Berry said. "We continued to accelerate our rural journey with focus on enhancing reach and sustaining our diligent market practices, which is evident in the consistent market share gains over the years. Our growths in organized trade channels remained robust, wherein revenues from e-commerce doubled over last year."
The stock has been discussed because of its dividend recommendation. The same should not be considered as a recommendation to buy in the stock solely because of dividend payout.