Royal Orchid Hotels declares 10% interim dividend after 6 years

Royal Orchid Hotels Limited has approved an interim dividend of 10 per cent. The dividend will result in payout of Rs 3.19 crore (including dividend distribution tax). The record date for dividend payment is March 1, 2017. Commenting on the dividend results Chander Baljee, Chairman & Managing Director said, “After a gap of six years, the company has decided to declare a dividend to its shareholders. The dividend payout shows improved financial performance in the current financial year and we are optimistic of improved financial performance in the last quarter and the next financial year.” The company had reported net profit of Rs 4.23 crore for the third quarter ended December 2016 compared to net profit of Rs 2.01 crore in December 2015. In the first nine months of the current financial year, Royal Orchid Hotels has reported net profit of Rs 6.47 crore.