Deepak Fertilisers Shareholders Approve Robust Dividend and Reconfirm Key Leadership

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) has announced that its shareholders overwhelmingly approved a significant dividend payout and re-appointed a crucial independent director at the company's 54th Annual General Meeting (AGM).

The company confirmed that a handsome dividend of Rs 10 per equity share, representing a 100% payout on equity shares of Rs 10 each, was sanctioned for the financial year that concluded on March 31, 2023.

This move underscores DFPCL's commitment to delivering value to its shareholders and reflects confidence in its financial performance.

Further demonstrating stability and continued strategic direction, the shareholders also gave their nod to the re-appointment of Ms. Parul Mehta as an Independent Director.

Ms. Mehta will serve for a second consecutive term of five years, commencing from January 1, 2024, and extending through to December 31, 2028. Her continued presence on the board is expected to provide valuable oversight and strategic guidance.

These pivotal resolutions were passed with the requisite majority, highlighting strong shareholder confidence in the company's management and its future trajectory.

The AGM, held on August 19, 2023, laid the groundwork for these key decisions, which are now officially in effect.

On the market front, while Deepak Fertilisers shares closed marginally lower by 0.96 percent at Rs 586.25 on the BSE following the announcement, the stock has shown impressive resilience and growth over the past year.

Investors have enjoyed a positive return of 18.29 percent over the last six months and a robust 22.38 percent over the past twelve months, signaling strong underlying business fundamentals and investor trust in DFPCL's long-term potential.