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Indian manufacturer of sugar co-generation of power and industrial alcohol, Dwarikesh Sugar Industries on Tuesday announced an interim dividend of ₹2 per share (200%) for the fiscal year 2021-22. Also, the company has declared a full and final dividend of ₹1. 25 per share (125%) for the previous fiscal year.
Vijay S Banka, Managing Director of Dwarikesh Sugar said, "We are pleased to consider rewarding our shareholders with an interim dividend for the current financial year."
The MD added, "This follows an improvement in our performance during the current financial year so far and a commitment of our management to reward our shareholders without compromising its capacity to reinvest its accruals to enhance business sustainability."
The company fixed April 08 as the record date for the interim dividend. The said Interim Dividend for the Financial year 2021-22 will be paid to all those Equity shareholders whose the name appears in the Register of Members of the Company or the records of the Depositories as beneficial owners
Earlier, Dwarikesh Sugar had made a decisive investment in its distillery business at its distillery unit in Dwarikesh Nagar (DN) which has now been debottlenecked to produce 162.5 KLPD of industrial alcohol. The company is presently engaged in executing a 175 KLPD distillery project at its Dwarikesh Dham (DD) unit which is expected to be commissioned by the end of the first quarter of the next financial year.
As per the company's statement, the setting of the new distillery will be a new milestone in the history of the company as its operations will be seamlessly & optimally integrated. Setting up of a new distillery will improve the sales mix, as it will result in moderation of sugar production while enhancing ethanol production and thus help augmentation of its top-line & bottom-line.
On BSE, Dwarikesh Sugar shares closed at ₹121.20 apiece, down by 1.82%. The shares today traded in between an intraday high and low of ₹125.05 apiece and ₹120.35 apiece respectively.
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