Rs 10/Share Dividend: Large Cap Stock Sets Record Date For 500% Dividend Payout

UPL Ltd is a large cap Agrochemical company that recorded a market cap of Rs 48,864.53 Cr during Friday closing session. The company is a global leader in providing agricultural solutions. The company has recommended a final dividend of 500% for FY23 for which the record date has been made public.

For the purpose of payment of final dividend of Rs.10/- per equity share of Rs.2/- each (500%) for the financial year ended 31st March 2023 (subject to approval at the ensuing AGM), the company has fixed 03 August 2023 as the ex-dividend date and due to the T+1 settlement mechanism of the company the record is also falling on the same date.

"We would like to inform you that the 39th Annual General Meeting ('AGM') of UPL Limited has been scheduled on Friday, 18th August 2023 through Video Conferencing / Other Audio-Visual Means in compliance with the applicable provisions of the Ministry of Corporate Affairs and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") read with the Circulars issued from time to time," said UPL in a stock exchange filing.

For the year ended March 2023 UPL has declared an annual dividend payment of Rs 20 per share and at the current market price of Rs 639.55, the stock is trading at dividend yield of 3.12%. UPL Ltd. has declared 20 dividends since August 17, 2004, as per the data of Trendlyne.

The company reported consolidated net profit of Rs 792 crore in March 2023 quarter, down 42.6% year-on-year (YoY) compared to a net profit of Rs 1,379 crore in March 2022 quarter. Consolidated revenue from operations for the firm grew by 4.5% to Rs 16,569 crore in Q4FY23 from Rs 15,861 crore in the corresponding quarter of the prior fiscal year (Q4FY22). Its EBITDA for the quarter ended March, was down 16% YoY to Rs 3,033 crore from Rs 3,591 crore in Q4FY22. The company is yet to declare its Q1FY24 result.

On Friday, the shares of UPL closed on the BSE at Rs 639.55 apiece up by 1.33% from the previous close of Rs 631.15. The stock made a 52-week-high of Rs 807.00 on (05/12/2022) and a 52-week-low of Rs 630.10 on (13/07/2023). During Q4FY23, UPL reported promoter shareholding of 32.34%, FIIs stake of 38.69%, DIIs stake of 14.39%, and public stake of 14.54%.