Realty stock announces dividend: Check record date
Premium- Real estate company Brigade Enterprises Ltd. is a mid-cap company with a market cap of Rs. 10,258 crore.
Real estate company Brigade Enterprises Ltd. is a mid-cap company with a market cap of Rs. 10,258 crore. With more than three decades of experience, one of India's top real estate developers, The Brigade Group, has revolutionised the landmarks of South Indian cities like Bengaluru, Mysuru, Mangaluru, Chikmagalur, Hyderabad, Chennai, Ahmedabad, and Kochi with developments in the residential, commercial, retail, hospitality, and educational sectors.
The Board of the company in its meeting held on 8th July has informed stock exchanges that “The Board of Directors of the Company in their meeting held on 12th May, 2022 had recommended a final dividend of Rs. 1.50 per equity share, subject to approval from the Members of the Company at the ensuing Twenty Seventh Annual General Meeting (AGM). Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, 26th July, 2022 as the Record Date for determining the Members eligible for payment of Final Dividend. The Final Dividend, if approved, at the AGM shall be paid on or before Wednesday, 31st August 2022."
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The shares of Brigade Enterprises Limited closed at ₹446 down by 1.43% from its previous close of ₹452.45. The stock's 52-week high on the NSE was Rs. 554.70 on March 31, 2022, and its 52-week low was Rs. 285.55 on July 7, 2021. This means that the stock is now trading 19.59 per cent below its 52-week high and 56.18 per cent above its 52-week low. The stock is trading above the 5 days, 20 days, and 50-day moving averages but below the 100 days and 200-day moving averages based on the last traded price. On Friday, the quantity traded was 1,431 shares on the BSE. The company's PE of 124.01 may suggest that the stock is overpriced, and its 8.66 per cent return on equity for the three months ending March 2022 was below average. For the quarter that ended in March 2022, the company's promoter shareholding was 43.88 per cent, which is the lowest level since June 2019. With a book value per share of Rs. 100.97, the stock is trading 4.41 times its book value which is the highest among its peers such as DLF, Oberoi Realty, Phoenix Mills, G R Infraproject and Prestige Estates.