Dwarikesh Sugar declares 200% Interim Dividend
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Mumbai: The Board of Directors of Dwarikesh Sugar Industries Limited has announced an interim dividend of Rs. 2 per share (200% on a face value of Rs 1 per share) for the financial year 2022-23, in its meeting held on 20th March, 2023. The interim dividend outgo will be Rs. 37.66 crores. The Record Date for reckoning the shareholders who shall be entitled to receive the said dividend shall be Friday, March 31, 2023.
This is the second consecutive year in which the company declared an interim dividend. The company had similarly announced an interim dividend of Rs. 2 per share during the previous financial year.
“We are pleased to reward our shareholders with an interim dividend for the current financial year,” said Mr. Vijay S Banka, Managing Director, Dwarikesh Sugar Industries Ltd. of the company. “This follows a steady business performance and a robust financial position. The interim dividend is a testimony of our commitment to reward shareholders after earmarking adequate resources for business reinvestment. We remain committed to reward our shareholders. Our broad based and diversified revenue mix will help mitigate uncertainties associated with the sugar business and accelerate evolution of our company into a bio-fuel organization.”
Following the commissioning of the distillery expansion in 2022, the company’s operations are optimally integrated. The distillery capacity is a consolidated 337.5 KL of ethanol production per day across two sugar units. The distillery plants are being operated at their rated capacities.
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