This multibagger sugar stock will go ex-dividend this week

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Business

oi-Vipul Das

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Shares of Dwarikesh Sugar were trading with slight gains on April 5, 2022, while most sugar stocks finished higher in today’s session. Dwarikesh Sugar will go ex-dividend this week, with the record date for the payment of the interim dividend being April 8, 2022. On March 29, 2022, the company issued an interim dividend of Rs 2 per share (200%) for the 2021-22 fiscal year. For the previous financial year, the company declared a full and final dividend of Rs. 1.25 per share (125%).

On March 29, 2022, the company had informed the ESB that “the Board of Directors has fixed Friday, April 08, 2022 as the record date for the payment of the interim dividend at 200%, i.e. Rs 2.00/- per capital share of Rs 1/- each declared by the Board of Directors at its meeting of March 29, 2022 for the Fiscal Year 2021-22.”

As the record date approaches, shareholders who acquire shares one day before the ex-dividend date will be registered as shareholders of shares and their names will appear in the register of members of the company or in the registers of depositaries at the date of record. , entitling them to a dividend payment to their Demat account by April 8, 2022.

The stock opened at Rs 131.05 and closed at Rs 131.15 in today’s trading session, resulting in a gain of Rs 1.20 (0.92%) on BSE . The stock has generated a multibagger return in one year, rising from Rs 30.45 on 6 April 2021 to Rs 131.15 on 5 April 2022, 3:54 PM IST, representing a return of 330.71%. The stock is up 79.90% year-to-date (YTD). The stock gained 78.44% in the previous six months and 35.91% last month.

In a statement, the company informed the ESB that it “previously made a breakthrough investment in its distillery business at its Dwarikesh Nagar (DN) distillery unit which has now been debottlenecked to produce 162.5 KLPD of Industrial Alcohol The Company is currently engaged in the execution of a 175 KLPD distillery project at its Dwarikesh Dham (DD) unit which is expected to be commissioned by the end of the first quarter of next fiscal year.

“The creation of a new distillery will be a new step in the company’s history as its operations will be seamlessly and optimally integrated. The creation of a new distillery will improve the sales mix, as it will lead to a moderation of sugar production while improving ethanol production and thus contribute to the increase in its turnover and its bottom line,” the statement said.

Ponni Sug. Erode (up 5.28%), Ugar Sugar Works (up 4.97%), Gayatri Sugars (up 4.91%), MPDL Ltd (up 4.71%) and Dharani Sugars ( up 4.23%) were the top 5 gainers in the current market. closing session on BSE, while Sir Shadi Lal (down 4.78%), Indian Sucrose (down 1.33%), Mawana Sugars (down 1.2%), Bannari Amm. Sugar (down 1.19%) and Riga Sugar Co. (down 1.19%) were the top 5 losers.

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