FMCG major Britannia on Monday said its board has approved bonus debentures and declared an interim dividend of Rs 83 per share for the current fiscal.

The record date for the interim dividend has been fixed as August 27.

“The board of directors at the meeting held on Monday have declared an interim dividend of Rs 83 per equity share of face value of Rs 1 each for 2020-21,” Britannia Industries told the bourses.

The board has also given its approval to the issue of unsecured, non-convertible, redeemable, fully paid-up debentures, along with an “appropriate cash component”, subject to the applicable tax laws, by way of a bonus to the shareholders of the company.

The issue is subject to deduction or withholding of applicable taxes and necessary statutory and regulatory approvals, including that of the National Company Law Tribunal (NCLT), Calcutta bench. Britannia will announce a detailed disclosure about the issue as and when the board of the company approves the scheme of arrangement.

This is not the first time that Britannia is issuing bonus debentures.

The last time the company issued a similar instruments was in 2018.

The company had then issued secured, redeemable non-convertible debentures as bonus debentures of Rs 60 in the ratio of one debenture for every share at an interest rate not exceeding 8 per cent to be paid annually for a period of three years.