Varun Beverages Ltd., a key bottling partner for PepsiCo in India, has officially set the record date for its upcoming stock split. The company announced that September 12, 2024, will be the decisive date for this share division, a move aimed at making its stock more accessible to a broader range of investors.
Key Highlights:
Market Impact:
Following the announcement of the record date, Varun Beverages' stock saw a positive uptick, with shares trading 1.1% higher at ₹1,517.85. The stock has been on an upward trajectory in 2024, gaining 22% year-to-date. Notably, the company has delivered positive annual returns every year since its listing in late 2016.
Conclusion:
Varun Beverages’ decision to split its shares underscores its commitment to maintaining a shareholder-friendly approach. By reducing the face value of its shares, the company aims to make its stock more accessible to a wider pool of investors, potentially increasing market participation and liquidity. With a strong track record of rewarding shareholders, Varun Beverages continues to be an attractive proposition in the beverage industry.
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