Top Global Food Manufacturing Company Declares Stock Split & Dividends

The directors of ADF Foods Ltd has declared a stock split and a dividend in the board meeting held on May 6, 2023. The company informed through the securities exchange filing along with record date details. The details are given below.

As per the press release, the board of directors of the ADF recommended a final dividend of Rs 5 per share (i.e. 50 per cent) on equity shares of the face value of Rs 10 each, subject to the approval of the members in the ensuing annual general meeting ("AGM").

Further, the company considered and approved the proposal for the sub-division of 1 equity share of the company having a face value of Rs 10 each into 5 equity shares having a face value of Rs 2 each, subject to the approval of the members of the company in the ensuing AGM scheduled on Wednesday, August 9, 2023.

The Register of Members and share transfer books of the company will remain closed from August 4, 2023, to August 9, 2023 (both days inclusive)

Besides the dividend and stock split, the company even announced its quarterly numbers. For the Q4FY23 ADF Foods posted a revenue of Rs 9,880.11 lakhs, it was down by 3.46 per cent over the previous quarter but it has grown by 14.78% over a year. The company reported a growth of 22.08 per cent in net profit at Rs 2,184.07 lakh, quarter-on-quarter (93.99% growth over a year).

ADF Foods was incorporated in 1992 as American Dry Fruits and is engaged in manufacturing, a wide range of canned, bottled, and processed vegetables fruits, and foods for the export and domestic markets. It was promoted by Hariram Mewawala Ramesh Thakkar and Kishore Thakkar.

In the last one year, the share price of ADF Food Ltd has declined by 2.65 per cent, but over three years it has skyrocketed by 283.76 per cent to the latest price of Rs 759.85 per share. On an intraday basis, the current price has fallen by 1.40 per cent. Its 52-week low is at Rs 631 per share and its 52-week high is at Rs 901.10 per share.

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