Home Financial Record Reliance Industries sets record dividend date for fiscal year 2021-22

Reliance Industries sets record dividend date for fiscal year 2021-22

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With a market valuation of 17,14,256.39 Crore, Reliance Industries Ltd. is a large-cap company that produces petroleum products. The largest private sector company in India and a Fortune 500 company is Reliance Industries Limited. The Company’s business activities include the exploration and production of oil and gas as well as the production of synthetic textiles and fabrics, plastics, chemicals, petroleum products, polyester products and polyester intermediates. The company’s board of directors has recommended a dividend of Rs. 8.00 per share of Rs. 10 for the financial year ending 31 March 2022. This equates to a dividend yield of 0.31% at the current trading price of the action of 2,532.90. In order to determine the eligibility of shareholders to receive a dividend, the company has announced a record date, of which shareholders should be aware.

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

For the purposes of the same, yesterday August 6, the Board of Directors stated in stock market filings that “the Company has set Friday, August 19, 2022 as the ‘Record Date’ for the purposes of determining eligible members to receive dividends for the 2021-22 financial year. The dividend, if declared at the AGM, will be paid in the week following the close of the AGM.”

Compared to the same quarter last year, the company announced a 46.3% increase in its consolidated net profit to 17,955 crores in Q1FY23 (vs. 12,273 crore). Shares of Reliance Industries on the NSE closed Friday at 2,532.90 per share, down 39.00 or 1.52% from the previous level of 2,571.90. The stock has gained 5.37% since the start of 2022.

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