Britannia board okays ₹83 as interim; bonus debentures

Our Bureau Chennai | Updated on August 17, 2020

A production line of Britannia Industries Ltdin Erode district, Tamil Nadu   -  M Periasamy

The board of directors of Britannia Industries on Monday declared an interim dividend of ₹83 per share for the current fiscal and issue of bonus debentures.

The record date for determining the entitlement of shareholders for the purpose of payment of interim dividend has been fixed as August 27, the company said in a notice to the stock exchanges.

Britannia said its board has also accorded its approval for the issue of unsecured, non-convertible, redeemable, fully paid-up debentures, along with an appropriate cash component, as may be decided, aggregating to ₹41.50 per equity share of face value of ₹1 each, subject to the applicable tax laws at the relevant time, by way of bonus to the members of the company...under a scheme of arrangement.

Besides, the board also approved enhancement of limit for issuance of commercial paper from ₹800 crore to ₹1,279 crore. 

It may be recalled last year Britannia had allotted 24.03 crore 8 per cent secured, non-convertible, redeemable, fully paid-up debentures of the face value of ₹30 in the ratio of one fully paid-up bonus debenture for each share.

Shares of Britannia on Monday closed 1.77 per cent higher at ₹3,869 on the BSE.

Published on August 17, 2020

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