Royal Orchid Hotels Limited,a fast emerging hotel chain operating 5 and 4 star hotels for business and leisure travellers, board has approved an interim dividend of 10% (Re 1 per share). The dividend will result in payout of Rs 3.19 crore (including dividend distribution tax). The record date for dividend payment is 01 March 2017.
Management Comment:
Commenting on the dividend results Mr. 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.
Awards & Recognition:
- Nominated for “Royal Orchid Hotels Limited” under the category of ”Hospitality” And “Mr. Chander Baljee- MD” for 3rd Edition of World’s Greatest Brands & Leaders 2016-17 Asia & GCC
- Royal Orchid Metropole, Mysore has been Awarded “The Best in Heritage Hotel” Category Tourism Awards 2016 the by Federation of Karnataka Chambers of Commerce & Industry (FKCCI), Bengaluru Karnataka.
- Royal Orchid Beach Resort, Goa was awarded for “Best 5 star Fun & Fly Resort and the Best Food & Beverage Manager in 5 Star category (South) – Mr. Sujit Kushwaha” by the Goan Hospitality award of Excellence 2016.
- Finalist at CNBC’s ‘Travel Business Leader Awards Asia Pacific’ 2015
- Felicitated as one of the ‘Heroes of Bangalore – 2014’ 61st Anniversary Awards by Bangalore Management Association
- Royal Orchid Hotels was awarded as one of the Bengaluru’s Hot 50 Best Brands at The Brand Summit and Awards for the years 2015 and 2014 which has been organized by Paul writer.
- Regenta Resort Varca-Goa won the “Best Debut Beach Resort” for India Hospitality Award (West & South) 2016.
