EID Parry declares 400% dividend; check out record date, payment date

Dividend News 2023: EID Parry on Monday declared a dividend of Rs 4 per equity share, a second dividend of the financial year ended March 2023. The dividend payout is per equity stock of face value of Re 1 — a dividend of 400 per cent. Read on to know about the record date.

EID Parry, a sugar manufacturer, announced a dividend of Rs 4 per share. | Image: Reuters

Dividend News 2023: EID Parry on Monday declared a dividend of Rs 4 per equity share. This is the second dividend of the financial year ended March 2023. The dividend payout is per equity stock of face value of Re 1 — a dividend of 400 per cent.

EID Parry shares held on to much of their intraday gains after the dividend announcement, having risen by as much as Rs 5.9 — or 1.2 per cent — to Rs 497.3 apiece on BSE earlier in the day.

The company's board announced the dividend after concluding a board meeting at 1:10 pm, according to a regulatory filing.

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EID Parry dividend: Record date

The company's board had earlier set April 21 as the record date for any such dividend.

What is a record date and what does it signify?

A record date is a date that determines the shareholders eligible to receive the benefit of corporate action such as an interim dividend. Simply put, those holding the stock of the company by the end of closing hours on the record date will receive the payout.