Reliance Industries Declares Record Date for Dividend; Important Information for Investors

Reliance Industries Declares Record Date for Dividend; Important Information for Investors

Reliance Industries Limited (RIL) recently set August 19, 2022, as the record date for identifying the shareholders who are eligible for the financial year 2021–2022 final dividend. The 45th Annual General Meeting (AGM) of the oil-to-telecom company will take place on August 29, 2022. The company stated in a BSE filing that “the dividend if declared at the AGM, will be paid within a week from the conclusion of the AGM.”

A dividend of Rs 8 per fully paid up equity share of Rs 10 each was previously announced by the Mukesh Ambani-led corporation for the fiscal year ending March 31, 2022. “For the fiscal year ending March 31, 2022, the Board of Directors has recommended a dividend of Rs 8 per fully paid up equity share of Rs 10 each. The Business’s members must approve this dividend payment at the Company’s upcoming Annual General Meeting, the company stated in a regulatory filing on May 6, 2022.

According to a recent regulatory filing to the stock markets, the firm has also designated August 22, 2022, as the “cut-off date” for identifying the members entitled to vote on the resolutions listed in the notice of the AGM and to attend the AGM.

For the quarter that ended in June, Reliance Industries recorded a consolidated net profit rise of 46.3% year over year to Rs 17,955 crore. During the quarter under review, it reported a gain in consolidated revenue from operations of 54.5% year over year, reaching Rs 2.23 lakh billion. In a statement earlier, Chairman and Managing Director Mukesh Ambani claimed that “O2C business has generated its highest performance ever” despite “major hurdles created by the tight petroleum markets and higher energy and freight expenses.”

Green Energy Business to Outshine All Existing Growth Engines in 5-7 Years: Mukesh Ambani

According to Chairman Mukesh Ambani’s statement to shareholders, Reliance Industries’ green energy division has the potential to surpass all of its current growth drivers in just five to seven years. “Over the next year, our investments in various segments of the green energy value chain will gradually start to take effect. In approximately 5-7 years, this new development engine has the potential to surpass all of our current growth engines, Ambani stated in the organization’s FY22 annual report.

Reliance Industries said last year that it would invest $10 billion over three years in its green energy sector. “All of Reliance’s business verticals will play a key role in achieving that. India is poised to become one of the world’s top three economies in the next couple of decades. India and Reliance would work to take the lead in the global switch to sustainable energy, the chairman of Reliance said.

According to the regulatory filing, Reliance Industries’ Annual General Meeting would be held via video conference or another audiovisual medium on Friday, August 29, 2022, at 2 pm.

#latestdividend #dividendnews #dividendannouncement #companydividend

Read more Business, Entertainment, Social, Politics , Real Estate , Finance , Sports

Finance