Multibagger sugar stock surges after interim dividend announcement

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Multibagger stock: After declaration of 200 per cent interim dividend i.e. 2 per share on face value of 1 per equity share for the financial year 2021-22, Dwarikesh Sugar share price today shot up over 3.50 per cent in intraday deals. Among one of the dividend paying stocks in March 2022, Dwarikesh Sugar shares today opened with an upside gap of 0.85 per share and went on to climb to its intraday high of 127.50 on NSE, inching close to its life-time high of 138.40 apiece levels.

As per the information available on the BSE website, “Dwarikesh Sugar Industries Limited has informed BSE that the Board of Directors of the Company at its meeting held on March 29, 2022, inter alia, has taken the following decision: Declaration of Interim Dividend of 200 % i.e. Rs. 2/- per share on face value of Rs. 1/- per Equity share for the financial year 2021-22.” Record date for interim dividend has been fixed on 8th April 2022.

Dwarikesh Sugar Industries Limited announced about the interim dividend in exchange communication citing, “We wish to inform you that Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Meeting of the Board of Directors of the Company was held on Tuesday, March 29, 2022. The meeting commenced at 11.45 a.m. and inter alia the following decisions were taken: 1. Declaration of Interim Dividend of 200 % i.e. Rs. 2/- per share on face value of Rs. 1/- per Equity share for the financial year 2021-22. 2. Record date for Interim Dividend is fixed as Friday, April 8, 2022. The said Interim Dividend for the Financial year 2021-22 will be paid to all those Equity shareholders whose name appear in the Register of Members of the Company or in the records of the Depositories as beneficial owners.”

Dwarikesh Sugar share price history

Dwarikesh Sugar shares are one of the multibagger stocks in 2021. In last one month, it has skyrocketed from 88.80 to 127.50, logging more than 40 per cent rise in this period. In year-to-date (YTD) time, this one of the dividend paying stocks in 2022 has delivered more than 70 per cent return to its share holders. However, in last one year, Dwarikesh Sugar share price has surged from 31.10 apiece levels to 127.50 levels, appreciating to the tune of more than 300 per cent.

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