India’s largest food service company fixes record date for dividend

Market


Jubilant Foodworks Ltd is a large-cap company in the fast-moving consumer goods (FMCG) industry with a market capitalization of 32,787 crore. Jubilant FoodWorks Limited is a subsidiary of the Jubilant Bhartia Group and is India’s largest food business company, with franchise business arrangements for three global brands: Domino’s Pizza, Dunkin’ Donuts, and Popeyes.

For the purpose of 60% dividend, the company has fixed 11th July as the record date. The company has said in BSE exchange filing that “This is in further to our letter dated May 30, 2022, wherein it was informed that the Board of Directors of Jubilant FoodWorks Limited in its meeting held on May 30, 2022, had inter-alia recommended Dividend for FY 2021-22 subject to approval of shareholders in the ensuing Annual General Meeting (“AGM”). Pursuant to the Regulation 42 of Listing Regulations, the Company has fixed Monday, July 11, 2022 as the Record Date for the purpose of determining the names of Members eligible for Dividend of 1.20/- (i.e. 60%) per equity share of face value of Rs. 2/- each for the Financial Year 2021-22. The dividend upon approval by the shareholders will be paid/dispatched within 30 days from the date of AGM and also subject to deduction of tax at source.”

The stock closed at 497 in today’s trading session, up 1.31 per cent from its previous closing of 490.55. In the previous year, the stock has fallen 23.50 per cent, and year-to-date (YTD) so far in 2022, the stock has fallen 32.00 per cent. In the last 6 months, the stock has fallen 27.17% but in the last 1 month the stock has moved up by 2.39% and in the last 5 trading days the stock has fallen 3.75%. On the NSE, Jubilant Foodworks shares reached a 52-week high of 918.00 on October 18, 2021, and a 52-week low of 451.20 on May 12, 2022, indicating that the stock is currently trading at a discount of 45 per cent from its 52-week high and above 10.15 per cent from its 52-week low. Jubilant Food is trading below the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages based on today’s closing price.

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