Dividend stocks:Shares of Bata India Ltd will be in focus when the stock market opens on July 31 (Wednesday).
The Board of Directors of the company had declared a final dividend of ₹12.00 per equity share for the financial year 2024.
The company had fixed July 31 as the record date to ascertain the eligibility of shareholders for the final dividend issue.
Bata India Ltd shares will trade ex-dividend on Wednesday.
In an exchange filing, Bata India Ltd said: “The Board at the Meeting recommended a Dividend of Rs. 12/- (240%) per equity share of Rs. 5/- each, fully paid-up of the Company, for the financial year ended March 31, 2024, for approval of the Members at the AGM. The payment of dividend, is subject to approval of the shareholders, at the AGM.”
On July 16, Bata India had said it will increase same-store sales growth by prioritising its “top six brands”.
The footwear maker had said it aims to also expand the presence of its successful Floatz brand across more stores with a fresh range, while also leveraging the momentum from the successful launch of its Power apparel.
“We continue to drive expansion along with same-store sales growth that will be critical for our retail business. We are focusing our efforts on unlocking new opportunities, primarily by prioritising our top six brands, along with Bata Core,” Bata India MD & CEO Gunjan Shah had said.
For the fourth quarter ended March 2024, Bata India had reported a 3.02 per cent decline in consolidated net profit to ₹63.64 crore.
Its revenue from operations rose 2.47 per cent to ₹797.87 crore during the quarter.
Total expenses of Bata India in the March quarter stood at ₹736.83 crore, up 5.22 per cent.
In the fiscal year 2023-24, Bata India had reported sales of ₹3,478.4 crore, marking a 2 per cent increase in operating profit margin compared to the previous year.
