Cigarette maker Godfrey Phillips announced a huge 2,800% dividend, equal to Rs 56 per share, while reporting its March results. The company’s net profit for the fourth quarter jumped 46.25% year-on-year to Rs 215.12 crore.
“The Board of Directors, in its meeting on May 30, 2024, approved a final dividend of 2,800%, or Rs 56 per share, for the financial year ending March 31, 2024. This is subject to shareholder approval at the upcoming Annual General Meeting (AGM),” Godfrey Phillips said in a filing to the stock exchanges.
The dividend will be paid within 30 days of declaration, with the payment date to be announced later.
In other news, Rekha Rakesh Jhunjhunwala earned Rs 224 crore in dividends from her Rs 38,000 crore portfolio in the March quarter.
Godfrey Phillips’ revenue from operations increased to Rs 1,197 crore for Q4FY24, up from Rs 974 crore in the same quarter last year. Revenue from the cigarette business for the fourth quarter grew 22.8% year-on-year to Rs 1,073.56 crore.
Godfrey Phillips India has delivered impressive returns, with its stock rising nearly 120% in the last year and 90% in the last six months. Technically, the stock is performing well, trading above key short-term moving averages, with an RSI around the 60 mark according to Trendlyne data. Shares of Godfrey Phillips closed flat today on the BSE at Rs 3,834.25.
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