This multibagger stock to pay ₹30 per share dividend soon: Check record date
Premium- Bharat Bijlee Ltd is an industrial-focused small cap company with a market cap of ₹1,081.48 Crore.
Bharat Bijlee Ltd is an industrial-focused small-cap company with a market cap of ₹1,081.48 Crore. Power Transformers, Projects, Electric Motors, Magnet Technology Machines, Drives, and Industrial Automation Solutions are among the main business categories of Bharat Bijlee, a renowned electrical engineering firm with headquarters in India. Power, refineries, steel, cement, railways, machinery, construction, and textiles are just a few of the industries that the corporation serves through its electrical business segments. For the fiscal year that ended on March 31, 2022, the board of directors recommended a dividend of Rs. 30 per equity share or 300% at a face value of ₹10 each.
The company had said in a regulatory filing that its Board of Directors “Recommended a Dividend of Rs. 30 per fully paid-up equity share (300%) of face value of Rs. 10 each, which includes Rs. 10 per fully paid-up equity share (100%) on occasion of Company's 75th Annual Report, for the Financial Year ended March 31, 2022. The Dividend, if approved by the Shareholders in the ensuing 75th Annual General Meeting ('AGM') of the Company, shall be paid to the shareholders within thirty (30) days from the date of the said AGM;."
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The Board at its meeting held on July 28, 2022 declared that the Register of Members and Share Transfer Book of the company shall remain closed from Wednesday, September 21, 2022 to Wednesday, September 28, 2022 for the purpose of the 75th Annual General Meeting of the shareholders of the company, scheduled to be held on Wednesday, September 28, 2022 and payment of dividend, as per a stock exchange filing. “The Dividend is payable, only if approved by the Shareholders at the 75th Annual General Meeting and will be paid on or after October 10, 2022," said the company in a stock exchange filing.
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As per the data available on BSE, the ex-date for the purpose of the same is 19 September 2022. At the current market price of ₹1,920.00, the stock is trading at a dividend yield of 1.56%. On Friday, the shares of Bharat Bijlee Ltd closed at ₹1,920.00 apiece, down by 1.19% from the previous close of ₹1,943.05 per share. In the last 3 years, the stock has generated a multibagger return of 116.45% and in the last 1 year, the stock has gained 49.28%. On a YTD basis, the stock has fallen by 0.07% so far in 2022. On the NSE, the stock had touched a 52-week-high of ₹2,169.95 on (01-February-2022) and a 52-week-low of ₹1,269.15 on (01-September-2021) indicating that at the current market price the stock is trading 11.51% below the high and 51.28% above the low.
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