Emami plans 300 per cent dividend, to seek shareholder nod in August

NEW DELHI: FMCG major Emami on Monday said it will seek approval from shareholders for paying 300 per cent dividend for the 2009-10 fiscal at an upcoming annual general meeting on August 19.

On May 28, 2010, the company's board had recommended a dividend of Rs 6 per share on the face value of Rs 2 per share.

Last week, the board had also approved splitting the company's stock into two shares of face value of Re 1 each.

"Consequently, after the subdivision of face value, the dividend to be paid will be Rs 3 per share of Re 1 each," the filing said.

The Kolkata-based firm had reported a 44 per cent jump in its consolidated net profit at Rs 39.41 crore for the quarter ended March 31, 2010.

During the quarter, the company's net sales jumped by 20 per cent to Rs 280 crore, compared to the same period in the previous fiscal.

Emami's revenue from its international business during the quarter stood at Rs 45 crore, registering a growth of 43.9 per cent over the same period of the previous fiscal.

In the year ended March 31, 2010, the company achieved a near two-fold jump in its consolidated net profit of Rs 169.7 crore, from Rs 91.75 crore recorded in the year-ago period.

During the period, Emami achieved net sales of Rs 1,037.9 crore against Rs 766 crore posted in FY'09.