United Breweries dividend: Beer maker UBL declares Rs 10 dividend alongwith Q4 results

The board of directors of beer-making company United Breweries Ltd (UBL) on Tuesday, May 7, proposed a final dividend of Rs 10 per equity share for FY24, according to a stock market disclosure.

"The board proposes a dividend of Rs 10 per share (PY: Rs 7.5 per share) on the back of strong financial results," the company said in a BSE filing.

"Despite some inflationary softening as seen from Q2, volatility will remain. We remain optimistic about the long-term growth potential of the industry, driven by increasing disposable income, favorable demographics & premiumisation," it added.

Simultaneously, UBL has also posted its financial results for the fourth quarter ended on March 31, 2024. The leading brewer reported a consolidated net profit of Rs 81.55 crore for the March quarter of the financial year 2023-24, marking an eightfold increase compared to the same period last year. Revenue for United Breweries surged by 17.3 per cent, reaching Rs 4,788.68 crore.

Meanwhile, shares of UBL closed at Rs 2,001.8 each, up almost 1 per cent on BSE today, May 7.