Home Business Reliance Industries Announces Record Date for Dividend; Key Things Investors Must Know

Reliance Industries Announces Record Date for Dividend; Key Things Investors Must Know

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Reliance Industries Announces Record Date for Dividend; Key Things Investors Must Know

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RIL Dividend: In order to determine the eligibility of the shareholders to receive dividend, Reliance Industries Ltd. has announced a record date, which shareholders need to be aware of. The company’s board of directors has recommended a dividend of Rs. 8.00 per equity share of Rs. 10 for the fiscal year ended March 31, 2022. This amounts to a dividend yield of 0.31 per cent at the stock’s current price of Rs 2,532.90.

Mukesh Ambani-led Reliance Industries Limited (RIL) on Sunday announced that it will be hosting its 45ths annual general meeting (AGM) at the end of this month on August 29. The meeting will take place at 2 pm through video conferencing and other audio-visual means.

The company has also fixed August 22, which falls on a Monday, as the “cut-off date” for the purpose of determining the members eligible to vote on the resolutions that are set out in the notice of the AGM.

On the other hand, Reliance Industries has also fixed August 19, which falls on a Friday, as the “Record Date” for the purpose of determining the members that are eligible to receive dividend for the financial year 2021-22. “The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM,” the company said in the stock exchange filings.

On 6th May 2022, the company said in a regulatory filing that “The Board of Directors has recommended dividend of Rs 8/- per fully paid up equity share of Rs 10/- each for the financial year ended March 31, 2022. This payment of dividend is subject to approval of members of the Company at ensuing Annual General Meeting of the Company.”

For the purpose of the same, yesterday on 6th August, the Board of Directors said in stock exchange filings that “The Company has fixed Friday, August 19, 2022 as the “Record Date” for the purpose of determining the Members eligible to receive dividend for the financial year 2021-22. The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM.”

In comparison to the same quarter last year, the company reported a 46.3 per cent increase in consolidated net profit to Rs 17,955 crore in Q1FY23 (up from Rs 12,273 crore). Reliance Industries’ shares on the NSE closed on Friday at Rs 2,532.90 per share, down Rs 39.00 or 1.52 per cent from the previous level of Rs 2,571.90. The stock has gained by 5.37 per cent YTD so far in 2022.

“This along with resurgent demand has resulted in tighter fuel market improved product margins. Despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever,” Mukesh Ambani, chairperson and MD of Reliance Industries Limited (RIL), said.

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