COLOMBO, Sri Lanka – 15 September 2026 – Renuka Foods PLC (CSE: RFL), a prominent listed entity on the Colombo Stock Exchange (CSE), has formally announced its Thirty Sixth (36th) Annual General Meeting (AGM). The crucial shareholder gathering is slated to be held virtually on Thursday, 24th September 2026, commencing at 3:30 p.m. Alongside the AGM notice, the company has unveiled a significant dividend proposal, offering shareholders a combination of both scrip and cash distributions.
Key Agenda for the 36th Annual General Meeting
Shareholders participating in the virtual AGM will engage with a comprehensive agenda designed to review the company’s performance and strategic direction. Central to these discussions will be the formal receipt and consideration of the Annual Report of the Board of Directors on the company’s affairs, the Statement of Compliance, and the Financial Statements for the fiscal year ended 31st March 2026, along with the accompanying Report of the Auditors.
Hybrid Dividend Declaration and Entitlement
A pivotal resolution at the upcoming AGM is the Board of Directors’ recommendation for a first and final dividend, structured as a hybrid distribution scheme:
- A scrip dividend of Rs. 0.09 per Ordinary voting share. This will be satisfied through the allotment and issue of 1,222,677 new fully paid ordinary voting shares, representing a total sum of Rs. 32,400,957.06.
- A concurrent cash dividend of Rs. 0.10 per Ordinary voting share, amounting to a total cash distribution of Rs. 36,001,063.40.
- A scrip dividend of Rs. 0.09 per Ordinary non-voting share, to be satisfied by the issue of 58,715 new fully paid ordinary non-voting shares, totaling Rs. 1,315,224.
- A cash dividend of Rs. 0.10 per Ordinary non-voting share, with a total cash value of Rs. 1,461,360.
Shareholders entitled to receive this dividend are those whose names appear on the Central Depository Systems (Pvt) Ltd. (CDS) as at the close of trading on the designated Record Date, which is 28th September 2026. This date falls on the second market day from and excluding the date of the AGM.
Mechanism for Scrip Dividend and Share Allotment
The scrip dividend component entails the allotment of new shares based on predefined ratios, calculated from the market value of shares as at 25th August 2026:
- For voting shares: Shareholders will receive 1 new fully paid ordinary voting share for every 294.44459493 existing issued and fully paid voting ordinary shares.
- For non-voting shares: Shareholders will receive 1 new fully paid ordinary non-voting share for every 248.89040279 existing issued and fully paid non-voting ordinary shares.
In adherence to company policy, any residual share fractions arising from this allotment process will be entrusted to trustees nominated by the Board. These fractions will be sold, and the net proceeds will be donated to a charity or charities approved by the Board of Directors. The newly issued shares, once allotted, will immediately rank equal and pari passu in all respects with the existing issued and fully paid ordinary shares, including the entitlement to participate in any dividends declared thereafter, and will be duly listed on the Colombo Stock Exchange.
Additional Resolutions and Board Appointments
Beyond the critical financial and dividend-related matters, the AGM will address several other significant resolutions aimed at ensuring robust corporate governance:
- Re-election of Directors: Mr. R.F.N. Jayasooriya and Mr. V. Sanmugam are scheduled for re-election, retiring by rotation in accordance with the company’s Articles of Association.
- Re-appointment of Directors (Age Exemption): Dr. S. R. Rajiyah and Mrs. I. R. Rajiyah are proposed for re-appointment as Directors, with a special declaration to waive the age limit of 70 years stipulated under Section 210 of the Companies Act No. 07 of 2007.
- Auditor Appointment and Remuneration: Shareholders will consider the appointment of Messrs KPMG, Chartered Accountants, as the company’s Auditors for the financial year ending March 31, 2026, and will authorize the Board to determine their remuneration.
- Authorization for Donations: The Board of Directors will also seek authorization to determine donations for the year 2026.
Shareholder Participation and Proxy Information
Renuka Foods PLC underscores the importance of active shareholder participation in its virtual AGM. Holders of ordinary voting shares possess full rights to participate, speak, and cast their votes, with the option to appoint a proxy holder to represent them. Holders of ordinary non-voting shares are entitled to participate and speak at the meeting, but their voting rights are specifically limited to resolutions pertaining to the dividend (items 2 (i), 2 (ii), and 2 (iii) of the Notice of Meeting).
A detailed Form of Proxy is provided alongside the Annual Report. Shareholders are advised to complete this form legibly and submit it to the Company Secretary at No. 69, Sri Jinaratana Road, Colombo 02, no later than forty-eight (48) hours prior to the scheduled time of the AGM.
This upcoming AGM represents a pivotal event for Renuka Foods PLC, offering shareholders a comprehensive overview of the company’s financial health and future strategic directions, particularly regarding its dividend policy for the current year.
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