The board of directors of Dwarikesh Sugar Industries has announced an interim dividend of ₹2 per share for this financial year in its meeting held on Monday. The interim dividend will lead to an outgo of ₹38 crore.

The Record Date for reckoning the shareholders who will be entitled for dividend has been fixed for March 31. The company had paid a similar interim dividend of ₹2 per share last financial year.

Vijay S Banka, Managing Director, Dwarikesh Sugar Industries, said the dividend follows a steady business performance and a robust financial position.

The diversified revenue mix will help mitigate uncertainties associated with the sugar business and accelerate the evolution of the company into a bio-fuel organisation, he said.

The distillery capacity is a consolidated 337.5 kilo litres of ethanol production per day across two sugar units. The distillery plants are being operated at their rated capacities, he said.