Dividend paying stock to trade ex-dividend soon. Share rallies 250% in 3 years
2 min read . Updated: 07 Jan 2023, 01:18 PM IST
Premium- Multibagger stock has fixed 11th January 2023 as record date for payment of ₹7.50 special dividend in FY 2022-23
Dividend paying stock: The board of directors of Welspun Enterprises has fixed 11th January 2023 as record date for dividend payment. As per the information available on Indian stock market exchanges, the company board has approved 75% special dividend or ₹7.50 per share for its shareholders and board has fixed 11th January 2023 as date to finalise eligible shareholders eligible for the dividend payment. While approving the special dividend, the company board also approved buyback of shares at ₹200 apiece through tender route.
Informing Indian stock market exchanges about the special dividend and buyback of shares, Welspun Enterprises Ltd said, "The Board of Directors of the Company at its meeting held today decided, subject to shareholders’ approval, to undertake buyback of 1,17,50,000 equity shares of ₹10/- each at the buyback price of ₹200/- per Equity Share (Buyback Price), for an aggregate amount of ₹235 crore (Buyback Size), representing 14.22% and 15.74% of the total paid-up equity share capital and free reserves based on standalone and consolidated audited financial statements of the company for the financial year ended on March 31, 2022 respectively through the tender offer route."
Welspun Enterprises dividend history
The dividend paying stock going to trade ex-dividend next week has a history of paying dividend to its shareholders. The civil construction company traded ex-dividend for payment of ₹1.50 per share interim dividend for the financial year 2022-23 on 30th June 202. On 18th June 2021, it had traded ex-dividend for payment of ₹1.50 per equity share dividend to its shareholders. Similarly, the stock has traded ex-dividend on 11th June 2020, 25th July 2019 and 25th June 2018.
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Welspun Enterprises share price history
This dividend paying stock has delivered multibagger return to its shareholders in recent years as well. It is one of those multibagger stocks on Dalal Street that has given sharp upside move in last three years in post-Covid pull back. In last near three years, Welspun Enterprises share price has appreciated from around ₹45 to ₹165 apiece levels, delivering more than 250 per cent return to its shareholders.
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