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Reliance Industries Announces Record Date for Dividend; Key Things Investors Must Know

By: Business Desk

News18.com

Last Updated: August 08, 2022, 11:02 IST

New Delhi, India

Mukesh Ambani, Chairman and Managing Director, Reliance Industries

Mukesh Ambani, Chairman and Managing Director, Reliance Industries

Reliance Industries has also announced that its 45th Annual General Meeting (AGM) will be held on August 29,2022. The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM, the company said

Reliance Industries Limited (RIL) has recently fixed August 19, 2022 as record date for determining the eligible shareholders for final dividend of financial year 2021-22. The oil-to-telecom conglomerate has also announced that its 45th Annual General Meeting (AGM) will be held on August 29,2022. “The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM,” the company mentioned in a BSE filing.

Mukesh Ambani-led company earlier announced a dividend of Rs 8 per fully paid up equity share of Rs 10 each for the financial year ended March 31, 2022. “The Board of Directors has recommended dividend of Rs 8/- per fully paid up equity share of Rs 10/- each for the financial year ended March 31, 2022. This payment of the dividend is subject to the approval of members of the Company at ensuing Annual General Meeting of the Company,” the company said in a regulatory filing on May 6, 2022.

The company has also fixed August 22, 2022 as the “cut-off date” for the purpose of determining the members eligible to vote on the resolutions set out in the notice of the AGM and to attend the AGM, according to a recent regulatory filing to the stock exchanges.

Reliance Industries reported 46.3 per cent year-on-year increase in consolidated net profit to Rs 17,955 crore for the quarter ended in June. It posted a 54.5 per cent year-on-year growth in consolidated revenue from operations, to Rs 2.23 lakh crore during the quarter under review. “Despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever,” Chairman and Managing Director Mukesh Ambani said in a statement earlier.

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

Green energy business of Reliance Industries, has potential to outshine all its existing growth engines in just 5-7 years, Chairman Mukesh Ambani mentioned in his note to shareholders. “Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years. This new growth engine holds great promise to outshine all our existing growth engines in just 5-7 years,” said Ambani in the company’s annual report for FY22.

Reliance Industries has last year announced to invest $10 billion in its green energy business over three years. “India is set to become one of the world’s top three economies in the next couple of decades, and all of Reliance’s business verticals will play a leading role in achieving that. India and Reliance will aim to play a leading role in the world’s transition to clean energy,” Reliance Chairman added.

The Annual General Meeting of Reliance Industries will take place at 2 pm on Friday, August 29, 2022 through video conferencing or other audio visual means, the regulatory filing mentioned.

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first published:August 08, 2022, 08:10 IST
last updated:August 08, 2022, 11:02 IST