A sugar company declares 200% dividend; here’s how it has been treating investors

Dwarikesh Sugar Dividend 2023, Dwarikesh Sugar Share Price NSE: Dwarikesh Sugar Industries Ltd, NSE: DWARKESH shares have cracked 6 per cent on D Street amid market-wide weakness on Dalal Street triggered by mixed moves across other Asian markets. The sugar company's board has announced a whopping 200 per cent dividend to its shareholders. 

The company has announced a dividend of Rs 2 per equity share having a face value of Rs 1. 

"Date for the purpose of payment of Interim Dividend at 200% i.e. ₹ 2/- per Equity Share of ₹1/- each declared by the Board of Directors in its meeting held on March 20, 2023 for the Financial Year 2022-23," the filling said. 

At 1:59 PM, Dwarikesh Sugar quoted Rs 82.8, down by 5.69 per cent from the previous close of Rs 87.80 on NSE. This is the second interim dividend in the current financial year. Dwarikesh Sugar declared a dividend of Rs 2 in April last year respectively.

Dwarikesh Sugar Dividend 2023 Record Date

The company has already fixed the record date for the payment of any such interim dividend. Dwarikesh Sugar's board on Monday have declared March 31 as the record date. A record date determines the shareholders eligible to benefit from corporate action such as a dividend payout.

Dwarikesh Sugar Dividend Payment Date 2023

"The interim dividend will be paid within stipulated as prescribed under law," the filing said. 

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Dwarikesh Sugar Dividend History

Dwarikesh Sugar Share Price: Historical performance

YTD, the stock has yielded a negative return of 20 per cent to its investors. In the past year, the stock has corrected 35 per cent.

At current market levels, Dwarikesh Sugar has a market cap of 1.59 thousand crore.

How to calculate dividend yield

To calculate a dividend yield, one needs to divide the annual dividends paid per share by the price per share.

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