Jubilant FoodWorks Sets Record Date For Dividend: Details Inside

Jubilant FoodWorks is a large-cap consumer discretionary company that recorded a market cap of Rs 33,068.14 Cr on Friday's closing session. India's largest food service company, Jubilant FoodWorks, is a subsidiary of the Jubilant Bhartia Group. For FY23, the company has declared a dividend of 60% for the purpose of which record date has been finalized by the company on Friday.

"This is in furtherance to our letter dated May 17, 2023, wherein it was informed that the Board of Directors of Jubilant FoodWorks Limited ("Company") in its meeting held on May 17, 2023, had inter-alia recommended Dividend of INR 1.20/- (i.e. 60%) per equity share of face value of INR 2/- each for Financial Year 2022-23 subject to approval of shareholders in the ensuing Annual General Meeting ("AGM"). Pursuant to the Regulation 42 of Listing Regulations, the Company has fixed Wednesday, July 12, 2023 as the Record Date for determining entitlement of Members eligible for Dividend," said Jubilant FoodWorks in a stock exchange filing on Friday.

Jubilant Foodworks has announced a 60.00% equity dividend with a face value of Rs 2, or Rs 1.2 per share, for the financial year ended March 2023. This generates a dividend yield at the current share price of Rs 501.15 of 0.24%. The company has a solid track record of dividend declarations during the past five years. Jubilant Foodworks Ltd. has issued 8 dividends since August 26, 2015, according to data from Trendlyne.

In the fourth quarter of FY23, the firm reported a net profit of Rs 47.5 crore, which was a drop of 59% from Rs 116 crore in the corresponding quarter of the previous year. The Domino's chain franchisee in India recorded sales of Rs 1,252.3 crore in Q4FY23, which is a rise of 8.2% above Rs 1,157.8 crore reported in Q4FY22. The company's EBITDA plummeted by 12.9% to Rs 252.2 crore during the quarter from Rs 289.7 crore, while the EBITDA margin fell by 490 bps to 20.1% from 25% YoY.

On Friday, the shares of Jubilant FoodWorks closed on the BSE at Rs 501.15 apiece up by 1.44% from the previous close of Rs 494.05. The stock made a 52-week-high of Rs 652.20 on (06/10/2022) and a 52-week-low of Rs 412.20 on (20/03/2023). During Q4FY23, the company reported promoter shareholding of 41.94%, FIIs stake of 25.38%, DIIs stake of 21.66%, Govt stake of 0.20%, public stake of 10.63% and other stakes of 0.18% as per the data of Screener.