Shares of the chemical manufacturing stock DCM Shriram (NS:DCMS) began trading ex-dividend on Wednesday, on the record date for its interim dividend of 290% to eligible shareholders for the financial year 2022-23.
The sugar producer’s Board of Directors had declared a second interim dividend of Rs 5.8 per equity share of the face value of Rs 2 apiece for FY23, aggregating to a dividend of 290%, while releasing the company’s earnings results for the December quarter.
This takes the total interim dividend of DCM Shriram to Rs 10.4/equity share, aggregating to Rs 162.18 crore in the financial year 2023.
The company’s record date was fixed as Feb 1, 2023, and the corporate reward will be credited or dispatched to all the eligible shareholders on or before Feb 18, 2023.
In the December quarter, DCM Shriram’s consolidated net profit lowered to Rs 342.09 crore from Rs 349.57 crore year-on-year, while the total income rose 21% YoY to Rs 3,417.06 crore.
The company’s standalone EBITDA slipped 5.5% YoY to Rs 574.15 crore but rose 6.2% sequentially in Q3 FY23.