Multibagger sugar stock rises after interim dividend announcement

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Multibagger stock: After declaration of an interim dividend of 200%, i.e. 2 per share on the par value of 1 per share for the 2021-22 financial year, Dwarikesh Sugar’s share price jumped more than 3.50% today in intraday trading. Among one of the stocks paying dividends in March 2022, shares of Dwarikesh Sugar opened today with an upward spread of 0.85 per share and continued to climb to its intraday high of 127.50 on NSE, approaching its highest standard of living of 138.40 levels each.

According to information available on BSE’s website, “Dwarikesh Sugar Industries Limited has informed BSE that the board of directors of the company at its meeting on March 29, 2022, inter alia, took the following decision: declaration of a deposit on dividend of 200% i.e. Rs. 2/- per share on par value of Rs. 1/- per share of capital for the financial year 2021-22.” The registration date for the interim dividend has been set for April 8, 2022.

Dwarikesh Sugar Industries Limited announced the interim dividend in an exchange communication citing: “We wish to inform you that, in accordance with Regulation 30 of the Securities and Exchange Board of India (Registration and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company was held on Tuesday March 29, 2022. The meeting started at 11:45 a.m. and, among others, the following decisions were taken: 1. Declaration of interim dividend of 200 %, i.e. Rs. 2/- per share on the par value of Rs. 1/- per Share Capital for the financial year 2021-22 April 2022. Said Interim Dividend for the 2021-22 financial year will be paid to all those shareholders whose names appear in the register of shareholders of the company or in the registers of depositaries as beneficial owners.”

Dwarikesh Sugar Share Price History

Dwarikesh Sugar shares are one of the multibagger stocks in 2021. Over the past month, it has skyrocketed from 88.80 to 127.50, registering an increase of more than 40% during this period. Year-to-date (YTD), this 2022 dividend-paying stock has generated over 70% returns for its shareholders. However, over the past year, Dwarikesh Sugar’s share price has gone from 31.10 levels each for 127.50 levels, appreciating over 300 percent.

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