Emami board to consider buyback of shares today. Details here
2 min read . Updated: 24 Mar 2023, 09:29 AM IST
PremiumEmami board is going to consider and approve buyback price and record date in its scheduled meeting today
Buyback of shares: The board of directors of Emami Ltd is ggoing to consider and approve buyback of shares today. The company informed Indian bourses in its exchange communication that company board is going to consider the proposal for buyback of shares in its meeting scheduled on 24th March 2023. The company board is expected to announce buyback price and record date for buyback in its scheduled meeting today.
Informing Indian bourses about the buyback of shares, Emami Ltd said, "The meeting of the Board of Directors of the Company is scheduled on 24/03/2023 ,inter alia, to consider and approve Pursuant to aforesaid regulation, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 24th March 2023 inter-alia, to consider a proposal for buyback of fully paid-up equity shares of the Company including matters related/incidental thereto in accordance with the provisions of Section 68, 69, and 70 of the Companies Act, 2013, read with rules made thereto and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended."
Emami is one of the dividend paying stock on Dalal Street as well. The multibational conglomerate company headquartered in Kolkata has declared interim dividend twice in the financial year 2022-23. Emami shares traded ex-dividend in FY23 in November 2022 and February 2023. On both occassions, the company declared interim dividend of ₹4 per share to its loyal shareholders.
Similarly, in FY22, Emami Ltd declared interim dividend to its shareholders twice in November 2021 and February 2022. IT traded ex-dividend stock on 8th November 2021 for payment of ₹4 per share interim dividend to its shareholders. In FY22, it once again traded ex-dividend on 10th February 2022 for payment of ₹4 per share interim dividend to its long term positional investors.
So, in last two financial years, this multinational conglomerate has given away net interim dividend of ₹8 ( ₹4 + ₹4) per share to its long term shareholders.
Emami dividend yield
At the beginning of FY23, Emami share price was quoting around ₹450 epr share whereas at the beginning of FY22, Emami share price was quoting around ₹488 apiece. So, Emami dividend yield in FY22 was around 1.65 per cent whereas Emami dividend yield in FY23 is around 1.75 per cent.
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