Fast Moving Consumer Goods (FMCG) is the industry in which Radico Khaitan Limited, a mid-cap company, has a market cap of Rs. 14,258.98 crores, is ongoing. As one of the largest producers of Indian Made Foreign Liquor (IMFL) in India, Radico Khaitan Limited (RKL) is a prominent name in the liquor industry. Contessa XXX Rum, Old Admiral Brandy, Magic Moments Vodka, and 8PM Whiskey are brands from the company’s collection of more than 15 brands. One of the largest suppliers of IMFL branded Canteen Stores Department (“CSD”) is Radico Khaitan Limited, which has been ranked by Fortune in the top 500 of India’s Most Valuable Companies, having been in existence for over 75 years.
The company, in a regulatory filing, said that its board of directors has “recommended a dividend of 150% i.e. Rs. 3 per equity share. 2 each for the financial year ended March 31, 2022, subject to the approval of the shareholders at their ensuing Annual General Meeting. The dividend, if approved by the shareholders at the ensuing annual general meeting of the company, shall be paid within 30 days from the date of declaration at the annual general meeting.
In order to determine the eligibility of shareholders for the purpose of dividend, the company has advised the stock exchanges that “Please be informed that dividend on equity shares, if declared in the ensuing AGM, shall be paid/remitted by: Shares in electronic form at the close of business hours on Thursday, September 22, 2022, on the basis of a statement of beneficial ownership submitted by the depository to members holding shares; and to members holding shares in physical form to members in whose names the members of the company Shares on or before the said date after giving effect to valid requests received for transmission/transfer of the shares entered in the Register as at the time of closing of business on Thursday, 22nd September, 2022. Payment of dividend Friday, on or before October 28, 2022, subject to the approval of the shareholders at the ensuing AGM.”
Shares of Radico Khaitan Ltd closed on NSE on Friday 1,067.50 a piece, up 4.60% from previous close of 1,020.60. share price increased 7.62 at market price as of June 20, 2003, currently, represents a multibagger return and is an all-time high of 13,909.19% in 19 years. The stock has given multibagger returns of 255.06% in the last three years and 531.47% in the last five years. The stock has gained 18.93% over the past year, but it has fallen 12.53% YTD in 2022.
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