Stock below Rs 100: This company declares 200 per cent interim dividend. Do you own it?

Record Date for reckoning the shareholders who shall be entitled to receive the said dividend shall be Friday, March 31, 2023.

Dwarikesh Sugar Industries Ltd is primarily engaged in manufacturing of sugar and allied products. It has strong presence in fields such as sugar manufacturing, power and ethanol/ industrial alcohol production.  The Company engages in the manufacture of sugar, ethanol (and related products) and power.  

On March 20, 2023, the company announced an interim dividend of Rs 2 per share (200 per cent on a face value of Rs 1 per share) for FY 22-23. The interim dividend outgo will be Rs 37.66 crore. 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.  

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.  

On Monday, shares of Dwarikesh Sugar Industries slipped more than 3.9 per cent to close at Rs 84.08 apiece on BSE. The scrip made an intraday high of Rs 85.50 per share from its previous closing level of Rs 87.53, while the intraday low stood at Rs 81.99 apiece.   

Keep a close eye on this trending stock.