Heritage Foods approves 40 pc dividend

Heritage Foods approves 40 pc dividend

Agency News

Hyderabad, Aug 30 : The 27th Annual General Meeting (AGM) of Heritage Foods Limited, the leading private dairy players in India was held here on Friday. The shareholders of the company has approved 40 per cent dividend for the financial year 2019-20 - Rs 2 per share on a face value of Rs 5 per share, a company statement here said.

Dr V Nagaraja Naidu and M N Sri Vishnu Raju have been re-appointed as Director and Non-Executive Independent Director of the company. Speaking on the occasion, Heritage Foods Executive Director Ms Brahmani Nara said, “We remain committed to our strategic blueprint to increase our current procurement of 19.6 lakh litres of milk per day to 25 lakh liters of milk per day and procurement from 6 lakh farmers and serving 30 lakh households by 2024.

We are delighted that, FY19-20 marked another outstanding year in delivering stakeholder value. We have been increasing our product penetration through increasing our distribution and retail outlets, focusing on product diversification as well as process improvements”. Ms Brahmani said “we continue to distinguish Heritage as a leading dairy company that matches changing consumer tastes and trends”. UNI