Emami's board to consider share buyback along with Q3 results this week
Premium- Emami's board will also consider the proposal for declaration of 2nd interim equity dividend for the Financial Year 2021-22
Emami on Monday informed that the company's board will consider a proposal of share buyback of the fully paid-up equity shares of the company at its meeting scheduled to be held this week on Thursday, February 3, 2022, along with its Q3 results.
Further, the board of directors will also consider the proposal for declaration of 2nd Interim Equity Dividend for the Financial Year 2021-22, Emami announced in an exchange filing today.
"The Board of Directors of the company scheduled to be held on February 3, 2022 inter-alia, to consider, approve and take on record the Unaudited Standalone and Consolidated financial results for the quarter and nine months ended 31st December, 2021 along with the proposal for declaration of 2nd Interim Equity Dividend and will also consider, interalia, a proposal of buy back of the fully paid-up equity shares of the Company," as per the release.
A share buyback, also known as share repurchase, is a corporate action to buy back its own outstanding shares from its existing shareholders usually at a premium to the prevailing market price.
Shares of Emami were trading over a per cent higher at ₹495 apiece on the BSE in Monday's closing deals. The stock has underperformed by rising about just 3% in a year as compared to a 19% rise in benchmark Sensex. Meanwhile, Emami shares are down over 5% in 2022 (year-to-date or YTD) so far.
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