With 170% dividend & 2.80% yield, multibagger stock shall trade ex-dividend soon
Premium- With a market valuation of Rs. 4,300.94 crores, Godawari Power & Ispat Ltd. is a small-cap company that operates in the industrial sector.
With a market valuation of Rs. 4,300.94 crores, Godawari Power & Ispat Ltd. is a small-cap company that operates in the industrial sector. Godawari Power & Ispat Ltd. (GPIL), a public limited company, is a founding member of the HIRA Group of Industries, located in Raipur, Chhattisgarh. The company deals in the steel sector, specialising in mild steel wire. Currently, GPIL manufactures mild steel wires and also produces steel wires, sponge iron, billets, ferroalloys, captive power, oxygen gas, fly ash brick, and last but not least, iron ore pellets. For the fiscal year 2021–2022, the Board of Directors has recommended paying a final dividend of Rs. 8.50 per share(i.e.170%) on a face value of Rs. 5/-each. At the current stock price of Rs. 303, this translates to a dividend yield of 2.80%.
The company has said in a regulatory filing that “The Board of Directors has recommended the payment of Final dividend of Rs. 8.50/- per share (i.e.170%) on equity share of Rs. 5/-each for the FY 2021-22 on the entire paid up equity share capital of the Company i.e. 14,09,44,988 equity shares of nominal value of Rs. 5/-each in addition to the Interim Dividend of Rs. 5/-per share paid on 3,52,36,247 equity share of Rs. 10/- each (before sub-division and issue of bonus shares). The Dividend recommended by the Board of Directors of the Company is subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company."
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As per the data available on BSE, 26/08/2022 has been set as the record date and 25 Aug 2022 has been set as the ex-date for dividend purposes. On Friday the shares of Godawari Power and Ispat Limited closed on the NSE at ₹303 apiece, down by 1.99% from the previous close of ₹309.15 per share. On Friday the total traded volume for the stock was 5,16,897 shares amounting to the traded value of ₹1,583.00 lacs. The 20-Day average trading volume of the stock is 349,193 shares. In the last 5 years, the stock price has risen from ₹66 per share as of 1st September 2017 to the current level which logs in a multibagger return of 359.09%. In the last 3 years, the stock has delivered a multibagger return of 619.41%. However, in the last 1 year, the stock has fallen 48.14% and on a YTD basis, the stock has gained 9.60% so far in 2022.
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