Tobacco stock soars 26% in 1 week on 2800% dividend bounty; rises 8% today

Godfrey Phillips India share rally: Shares of Godfrey Phillips India, a leading FMCG company and flagship of Modi Enterprises – KK Modi Group, surged over 8 per cent to reach a 52-week high of Rs 5,693.90 during Tuesday's intra-day trading on the BSE. The stock has rallied 25.76 per cent in the past one week, driven by the announcement of a hefty 2,800 per cent dividend, or Rs 56 per share, for FY24.

Earlier, on Tuesday, August 13, Godfrey Phillips India informed the exchanges via regulatory filing that its 87th Annual General Meeting of the members of the company for the Financial Year 2023-24 is scheduled to be held on Friday, September 6, 2024. The meeting is set to declare a dividend on equity shares for the financial year ended March 31, 2024, and to consider and, if thought fit, to pass the following resolution as an Ordinary Resolution:

 

“...Dividend at the rate of Rs 56/- (Rupees Fifty-Six only) per equity share of Rs 2/- (Rupees Two) each fully paid-up of the company, as recommended by the Board of Directors, be and is hereby declared for the financial year ended 31st March 2024, and the same be paid out of the profits of the company,” Godfrey Phillips India stated in a regulatory filing on the BSE.

As per the information available on the exchanges, the company’s shares will trade ex-dividend on Wednesday, August 28, 2024.

Godfrey Phillips India commands a market capitalisation of Rs 28,645.27 crore on the BSE, as of August 20, 2024. The FMCG company is a constituent of the BSE 500 index.

BSE analytics reflect that the company’s shares have sprinted 164.57 per cent year-to-date, while in the last six months they have yielded a return of 107.94 per cent.

Godfrey Phillips India shares have a 52-week range of Rs 5,693.90 - 1,994.90 on the BSE.

At around 11:43 AM on Tuesday, Godfrey Phillips India shares were quoted at Rs 5,535.05, up 5.02 per cent on the BSE. Meanwhile, at the same time, nearly 0.37 lakh equity shares of the FMCG company, worth Rs 20.43 crore, exchanged hands on the BSE.