The Board of Directors of Page Industries Ltd., the exclusive licensee of Jockey International in India, is set to convene on May 15, 2025, to review and approve the company’s financial results for the March quarter of FY25. Alongside, the board will also deliberate on the final dividend for the financial year 2024-25.

This announcement comes as Page Industries continues its tradition of strong shareholder returns through consistent and high-value dividend payouts, making it a favourite among dividend-focused investors.

Massive Dividend Payouts Over the Past Year

In the last 12 months alone, Page Industries has distributed dividends exceeding ₹900 per share, spread across five separate announcements, all in triple digits.

• In February 2025, the board approved its third interim dividend of ₹150 per share.

• Earlier in November 2024, it paid a dividend of ₹250 per share.

• Prior to that, in August 2024, shareholders received ₹300 per share as interim dividend for Q1 FY25.

• The dividend journey began in February 2024, with a ₹100 per share announcement.

These generous payouts reflect the company's robust cash flow and its commitment to rewarding shareholders, particularly at a time when many companies are cautious about dividend disbursement.

A History of Shareholder Rewards

Page Industries has consistently delivered on its dividend policy. Between June 2022 and November 2023, it paid out ₹470 per share in dividends, with average payouts ranging from ₹60 to ₹75 per share during that period.

The last 12 months, however, have seen a sharp jump in shareholder rewards, with the cumulative dividend payout crossing ₹900 per share. Such aggressive dividend distribution not only strengthens investor confidence but also positions Page Industries as one of the most reliable income-generating stocks in the Indian market.

Stock Performance and Market Sentiment

Despite the heavy dividend flow, Page Industries' stock has seen modest movement in 2025, with a 5% decline year-to-date. However, it has recovered 5% over the last month, currently trading largely unchanged at ₹45,420 per share.

The upcoming board meeting and the announcement of final dividends may serve as a short-term catalyst for the stock, especially for long-term income investors waiting for clarity on year-end earnings and further capital returns.

What Investors Should Watch on May 15

The key focus of the upcoming meeting will be on two aspects:

• Financial performance for Q4 FY25, which will shed light on consumer sentiment, margins, and operational efficiency.

• Final dividend recommendation, which will add to the already impressive dividend tally for the fiscal year.

Given the company’s track record, expectations are high for a sizeable final dividend, which could potentially push the FY25 total payout beyond ₹1,000 per share.

Page Industries’ Edge in the Innerwear Segment

As the exclusive manufacturer and distributor of Jockey in India, Page Industries enjoys brand monopoly in the premium innerwear and athleisure market. The company has successfully leveraged this position to maintain steady cash flows and strong profitability, key enablers of its dividend policy.

With a wide distribution network, premium branding, and increasing focus on e-commerce, the company is well-placed to sustain its leadership in the innerwear space and continue its dividend-friendly practices.

Conclusion

Page Industries Ltd. continues to outperform investor expectations on the dividend front, establishing itself as a benchmark for consistent shareholder returns in the Indian stock market.

The upcoming board meeting on May 15, 2025, will be critical for stakeholders tracking the company's financial health and looking forward to another rewarding dividend announcement. Investors are advised to stay updated and keep an eye on potential movements in the share price post-results.

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