Dhampur Sugar Mills declares dividend; check out record date
Dhampur Sugar Mills dividend: The sugar maker has announced the dividend for shareholders on the successful commissioning of the new distillery project.
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02:10 PM IST
Dhampur Sugar Mills dividend: Dhampur Sugar Mills (NSE:DHAMPURSUG)– a sugarcane processing company – announced an interim dividend and a special dividend on Monday, April 3 to its shareholders for the financial year 2022-23 (FY23).
“The Board of Directors have fixed Tuesday, April 18, 2023, as the Record Date for the purpose of payment of Interim Dividend at 60 per cent i.e. Rs 6.00/- per Equity Share of Rs 10 each (Aggregate of Interim Dividend of 50 per cent i.e. Rs. 5.00 per Equity Share of Rs. 10 each and Special Dividend of 10 per cent i.e. Rs 1.00 Per Equity Share of Rs 10 each,” Dhampur Sugar Mills said in its regulatory filing on April 3, 2023.
The sugar maker has announced the dividend for shareholders on the successful commissioning of the new distillery project.
Dhampur Sugar Mills 2023: record date
Dhampur Sugar Mills has decided its record date as April 18, 2023.
What is a record date?
The record date is the cut-off date used to determine which shareholders are entitled to a corporate dividend.
Dhampur Sugar share price history
On Monday, shares of Dhampur sugar ended over 3.35 per cent higher at Rs 231.05 apiece on NSE.
Dividend-paying sugar stock has been under heavy sell-off as it corrected over 52 per cent in the last one year, as compared to Nifty50's decline of 3.63 per cent.
Year to date (YTD), the scrip has shed over 29 per cent underperforming the headline index fall of 4.39 per cent.
Sugar industry outlook
According to brokerage firm Centrum Research, sugar companies are looking forward to an interesting sugar season in 2023 wherein the trends indicate further downward revision to Indian Sugar Mills Association’s sugar production estimates from 34 million metric tons (MMT).
The brokerage expects a major uptick in the prices of sugar as the season ends.
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