Reliance Industries fixes record date for dividend for the FY 2021-22

With a market valuation of ₹17,14,256.39 Crore, Reliance Industries Ltd. is a large cap corporation 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 research 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 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 ₹2,532.90. In order to determine the eligibility of the shareholders to receive dividend, the company has announced a record date, which shareholders need to be aware of.

On 6th May 2022, the company said in a regulatory filing that “The Board of Directors has recommended dividend of ₹8/- per fully paid up equity share of ₹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 ₹17,955 crore in Q1FY23 (up from ₹12,273 crore). Reliance Industries‘ shares on the NSE closed on Friday at ₹2,532.90 per share, down ₹39.00 or 1.52 per cent from the previous level of ₹2,571.90. The stock has gained by 5.37 per cent YTD so far in 2022.

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