This penny stock sets record date for dividend and takes the yield to 6%
Premium- The Financial Services sector-focused company Oswal Green Tech Ltd is a small-cap company with a market cap of Rs. 642 crores.
The Financial Services sector-focused company Oswal Green Tech Ltd is a small-cap company with a market cap of Rs. 642 crores. For the fiscal year 2022–2023, the Board of Directors has announced an interim dividend of Rs. 1.50 per equity share with a face value of Rs. 10 each fully paid-up. This equals a dividend yield of 6% at the current market price of ₹25.
The company has informed BSE by saying that “The Board of Directors at its meeting held on Wednesday, July 6, 2022, has declared an interim dividend of Rs. 1.50/- per equity share of face value of Rs. 10/- each fully paid-up for the financial year 2022-23. Further, in terms of regulation 42 of the listing Regulations, the B_oard has fixed Friday, July 15, 2022 as the 'Record Date' for the purpose of ascertaining the eligibility of shareholders for payment of aforesaid interim dividend. The payment of interim dividend through permissible mode shall be made within 30 days from the date of declaration of interim dividend."
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The stock gained 5.26 per cent from its previous close of ₹23.75 and settled at ₹25 on the BSE. The stock has dropped 21.81 per cent in the past year, and so far in 2022, it has fallen 20.82 per cent according to a year-to-date (YTD) basis. The stock has fallen 21.44 per cent over the previous six months but has climbed 7.26 per cent during the past month. The stock has gained 1.83 per cent during the last five trading days, and it has been gaining over the last three days, rising 7.99 per cent during that time. Oswal Green Tech is trading higher than the 5 days, 20-day, 50-day, 100-day, and 200-day moving averages at the current share price. The company's book value per share is ₹96.70, meaning that the shares are now selling at a low PB of 25 times book value at the current price of ₹25.