This Large Cap Company To Consider Interim Dividend Payment

The large cap cement company Shree Cements in an exchange filing dated January 22, 2022 said, "This has reference to our intimation given on 17th January, 2022 regarding meeting of the Board of Directors of the Company on Tuesday, 1st February, 2022 for consideration of Standalone and Consolidated Financial Result for Quarter and Nine Months ended 31st December, 2021 and declaration of Interim Dividend. We would like to inform you that the above Board Meeting has been rescheduled and would now be held on Friday, 4th February, 2022 to consider and approve, inter-alia, un-audited standalone and consolidated financial results of the Company for the Quarter and Nine Months ended on 31st December, 2021 and declaration of Interim Dividend for the Financial year 2021-22."

Record date for the interim dividend revised

So as the meeting of the Board of Directors of the Company has been deferred from the earlier prescribed that. "Accordingly, the Record Date for payment of Interim Dividend, if declared by the Board in the above meeting, shall now be Saturday, 12th February, 2022 instead of 'Wednesday, 9th February, 2022", said the filing.

Previously, the ex-date for the interim dividend if announced was February 8, 2022.

Shree Cements past year’s dividend record

The company in the Fy ending 2021 gave a dividend of 600% amounting to Rs. 60 as its final dividend for the FY. At the current price of Rs 25037.20 this results in a dividend yield of 0.24%.

Before that the company for the FY ending 2020 announced an interim dividend of Rs. 110 per share.

Shree Cements September quarter results

Leading cement manufacturer in Northern India, Shree Cements sells its product line under three brands namely -Shree Ultra Jung Rodhak Cement, Bangur Cement and Tuff Cemento.

In the September ended qtr., firm's net profit narrowed sequentially to Rs. 577.7 crore as against Rs. 661.72 crore in the earlier qtr. However, the net profit rose YoY from Rs. 547.25 crore in Q2FY21 period.

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The story is for informational use only and should not be construed as an investment advice into it.