This debt-free stock to pay 1090% dividend soon: Check if you own
Premium- With a market cap of ₹25,460.66 crore, Bata India Ltd. is a large cap company that serves the nation's consumer discretionary industry.
With a market cap of ₹25,460.66 crore, Bata India Ltd. is a large cap company that serves the nation's consumer discretionary industry. As a division of the Bata Shoe Organization, Bata India is the largest footwear retailer and producer in India. According to Value Research, Bata India is a debt-free organisation. For the fiscal year ended in March 2022, Bata India declared an equity dividend of 1090.00 per cent at a face value of ₹5 or a dividend of ₹54.5 per share. This generates a dividend yield of 2.73 per cent at the current share price of ₹1,985.95.
The company has said in a regulatory filing that “The Board at the Meeting recommended a Dividend of Rs. 54.5 (1090%) per equity share of Rs. 5/- each fully paid-up of the Company, which includes onetime Special Dividend of Rs. 50.5 (1010%) per equity share of Rs. 5/- each fully paid-up of the Company, for the year ended March 31, 2022, for approval of the Members at the AGM. The payment of dividend, is subject to approval of the shareholders, at the AGM. Pursuant to Regulation 42 of the SEBI Listing Regulations, the Share Transfer Books and Register of the Members will remain closed from Saturday, August 6, 2022 to Friday, August 12, 2022 (both days inclusive) for the purpose of the 89th AGM and payment of Dividend. Dividend on Equity Shares, if declared, at the 89th AGM will be paid from Tuesday, August 23, 2022 onwards to those Members who are entitled thereto."
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As per the data available on BSE, the ex-date for the dividend is 04 Aug 2022. The ex-date for corporate actions like dividends falls 2 days prior to the record date and it indicates that in the instance of Bata India, the record date is August 6, and in order for shareholders to receive the dividend, they must be listed in the company's record book on that day. The shares of Bata India closed today at ₹1,985.95 on the NSE, up by 1.24% from the previous close of ₹1961.65. In the last 1 year, the stock has gained 18.09% and on a YTD basis, the stock has gained 6.82% so far in 2022.
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