Page Industries Dividend 2024: Shares Skyrocket as Company Announces Rs 100 Dividend

News: Page Industries Limited, the proud owner of the renowned Jockey brand, has thrilled investors with its latest announcement of a dividend payout of Rs 100 per share for the year 2024. This news, coupled with the disclosure of its impressive December quarter results, has propelled the company’s shares to new heights. In fact, the shares experienced significant growth yesterday, reaching an intraday high of 1093, and today, despite market challenges, they continue to trade at a remarkable increase of Rs 100.60.

This marks the third dividend distribution for Page Industries Limited in the fiscal year 2023-24. Previously, the company distributed dividends twice in the form of interim dividends, underscoring its commitment to rewarding its shareholders. Alongside this announcement, the company also revealed its December quarter financial performance, boasting a net profit of Rs 152 crore.

Despite closing with a modest 1.3 percent growth yesterday, today saw an even more promising start for Page Industries Limited, with shares opening at Rs 36740 and steadily climbing to Rs 36780 by 11:45, peaking at an intraday high of Rs 36950.

About Page Industries Limited

Established in 1995, Page Industries Limited holds licenses from JOCKEY International Inc. and Speedo International Ltd., allowing it to market and sell JOCKEY and Speedo brands in India, Sri Lanka, Bangladesh, Nepal, and the United Arab Emirates. Jockey, the flagship brand, has been at the forefront of innovation in the innerwear sector, creating a niche market segment in India with its premium products. Additionally, in 2011, Page Industries Limited became the exclusive licensee for Speedo in India, rapidly expanding its presence to over 1286 stores across 86 cities and towns in just six years.

Page Industries Dividend 2024

During its board meeting on 8th February 2024, Page Industries Limited approved a generous dividend payout of 1000% to its investors, equating to Rs 100 per share, given the face value of ₹ 10. Shareholders can anticipate this dividend credited to their bank accounts shortly, with the record date set for 16th February 2024. Those holding shares until this date will receive their dividend by or before 8th March 2024.

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Page Industries Dividend History

This fiscal year’s dividend marks the third payout for shareholders, following previous distributions of Rs 75 in August 2023 and November 2023. Remarkably, from 2020 to February 2024, the company has distributed dividends a total of 13 times, highlighting its consistent commitment to rewarding investors.

Page Industries December Quarter Result

The company’s December quarter results, unveiled on 8th February 2024, showcase its robust financial performance. With a net revenue of Rs 1228.77 crore in December 2023, Page Industries achieved a growth of 2.39% compared to the same quarter in the previous year and 9.1% compared to the preceding quarter. Similarly, its net profit increased to Rs 152.35 crores, reflecting a year-on-year growth of 23.13% and a quarter-on-quarter growth of 1.3%.

Page Industries Limited Shareholding Pattern

Examining the shareholding pattern, promoters held 45.11% of shares as of December 2023, while the public held 54.89%, with FIIs accounting for 1.78%, and DII Non-Institutions and Retail Investors holding 24.52%.