Varun Beverages Fixes Record Date To Pay Interim Dividend In August

Varun Beverages Limited (VBL) is the second largest franchisee in the world (outside US) of carbonated soft drinks and non-carbonated beverages sold under trademarks owned by PepsiCo and a key player in the beverage industry. It produces and distributes a wide range of carbonated soft drinks and a large selection of non-carbonated beverages that may include packaged drinking water.

The large cap company has a market capitalization of Rs 60,385.38 crore. VBL is part of the RJ Corp group, a diversified business conglomerate with interests in beverages, quick-service restaurants, dairy and healthcare.

The board of directors of VBL has declared record date for the payment of interim dividend to its shareholders. Check key highlights below:

1. Varun Beverages Announces Record Date For Interim Dividend

The board of directors in their BSE filing stated, "The payment of interim dividend of Rs. 2.50 (Two Rupees and Fifty Paisa only) per Equity Share for the Financial Year 2022 on the total issued, subscribed and paid-up 64,95,49,620 Equity Shares of the nominal value of Rs. 10/- each. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, fixed Friday, August 12, 2022 as the "RECORD DATE" for ascertaining the eligibility of the Equity Shareholders for payment of interim dividend. The interim dividend will be paid on and from Tuesday, August 16, 2022 to those shareholders whose name appears in the Register of Members of the Company or in the list of beneficial owners maintained by the Depositories as on Friday, August, 12, 2022."

2. Varun Beverages Stock Outlook

The current market price of the stock is Rs 929.55 apiece. The stock has so far gained 1.55% (till 1:06 pm). The 52-week high of the stock is Rs 960 apiece and 52-week low is Rs 480 apiece. The stock has given a return of 76% in 1 year, 235% in 3 years, and 527% in 5 years.

3. Varun Beverages Dividend History

It has maintained a good dividend history and regularly declared dividend for the last 5 years. It has a dividend yield of 0.27 at the current share price of the stock i.e. Rs 929 apiece.

4. About Varun Beverages

It has been associated with PepsiCo since the 1990s and has over two and half decades consolidated its business association with PepsiCo, increasing the number of PepsiCo licensed territories and sub-territories covered by it, producing and distributing a wider range of PepsiCo beverages, introducing various SKUs in its portfolio, and expanding distribution network. It has been granted franchisees for various PepsiCo products spread across 27 States and 7 Union Territories (except Jammu & Kashmir and Andhra Pradesh) in India.