Westlife Foodworld, the McDonald's India franchisee, has declared an interim dividend of Rs 3.45 per share for the financial year 2023-2024. This is the first time in 14 years that the company has declared an interim dividend.
The dividend is being declared on the face value of Rs 2 per share. This means that shareholders will receive a dividend of 172%, which is a very healthy payout.
The record date for the dividend is set as August 8, 2023. This means that shareholders who are registered on the company's books on this date will be eligible to receive the dividend.
The dividend is being declared on the back of strong financial performance by Westlife Foodworld. The company's net profit for the quarter ended June 2023 was Rs 288.3 million, up 22% from the same period last year.
The company's revenue for the quarter also grew by 22% to Rs 1,097.2 million.
The strong financial performance is being attributed to the company's focus on new product launches and expansion of its restaurant network.
The dividend announcement is a positive development for Westlife Foodworld and its shareholders. It shows that the company is in a strong financial position and is committed to returning value to its shareholders.
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