Coming out of June quarter with a fat bottomline, Brittania Industries reward its shareholders by doling out hefty dividends on Monday.
FMCG major Britannia on Monday said its board has accorded its approval for the issue of unsecured, non-convertible, redeemable, fully paid-up debentures”The board of directors of the company at their meeting held today, 17 August 2020, have declared interim dividend of ₹83 per equity share of face value of ₹1 each for the financial year 2020-21,” Britannia Industries said in a regulatory filing. Also, under a scheme of arrangement, an appropriate cash component, as may be decided, aggregating to ₹41.50 per equity share of face value of ₹1 each, subject to the applicable tax laws at the relevant time, by way of bonus to the members of the company, was announced.
The record date has been fixed as August 27, 2020 for determining the entitlement of shareholders for the purpose of payment of interim dividend. In a separate filing, the cookie maker said the board of directors of the company have approved enhancement of limit for issuance of commercial paper from ₹800 crore to ₹1,279 crore. Shares of Britannia were trading 2.07 per cent higher at ₹3,879.95 apiece on the BSE.