New Delhi: McDonald's India Franchisee Westlife Foodworld Ltd, a mid-cap company operating in the tourism and hospitality sector, made a significant announcement on Thursday by declaring an interim dividend of Rs 3.45/- per equity share of face value of Rs 2/- each.


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This dividend comes after a notable hiatus of nearly 14 years.


Westlife Foodworld Interim Dividend, Record Date And Other Details


"We would like to inform you that the Board of Directors of the Company in its meeting held today i.e. 27th July, 2023 have declared payment by the Company of interim dividend of Rs. 3.45/- per equity share of face value of Rs. 2/- each i.e. of over 172%, for the financial year 2023-2024, to the members of the Company, and 8th August, 2023 has been fixed as the Record Date for the purpose of ascertaining the eligibility of shareholders for payment of the aforesaid interim dividend declared by the Board," the company said in a BSE filing.


Westlife Foodworld Market Cap

The market responded positively to the news, as Westlife Foodworld shares surged, hitting a 52-week high in yesterday's trading session. The current market price of the stock stands at Rs 899.05 per share, reflecting an intraday gain of 1.52% on the Bombay Stock Exchange (BSE). Over the last year, shareholders have been rewarded handsomely, with the company offering a remarkable return of 75%.


In terms of the company's stock performance, the 52-week high and low prices stand at Rs 942.00 per share and Rs 511.65 per share, respectively, contributing to a market capitalization of Rs 14,019.44 crore.


According to Trendlyne data, Westlife Foodworld has declared three dividends since December 10, 2008, with the last dividend being announced on March 16, 2009.


Westlife Foodworld Quarter Report


Notably, Westlife Foodworld's financial performance for the April-June quarter showcased a consolidated net profit after tax of Rs 288.3 crore ($3.52 million), representing a robust 22% growth. However, the figure fell short of Refinitiv IBES estimates, as reported by Reuters.


Westlife Foodworld Limited, now known as Westlife Foodworld Ltd (WFL), has emerged as a prominent player in India's quick-service restaurant (QSR) sector. Focused on establishing and operating McDonald's restaurants across West and South India through its wholly-owned subsidiary, Hardcastle Restaurants Pvt., the company continues to show promising growth in the dynamic Indian market.