2 stocks to pay 125% dividend soon for FY23: Do you own any?

Time Technoplast and Archean Chemical Industries are the two companies that have declared 125% dividend soon for FY23. The Board of Directors of the company made this announcement while declaring their Q4 and FY23 results. 

Time Technoplast

The Board of Directors have “Recommended final dividend of Rs. 1.25/- (125%) per equity share of face value of Rs. 1/- each for the financial year ended 31st March, 2023, subject to the approval of the Members at the ensuing Annual General Meeting,” said Time Technoplast in a stock exchange filing.

The company said its revenue from operations stood at ₹1,192.38 crore in the quarter ended March 2023 up 14.77% YoY from Rs. 1,038.96 crore in the quarter ended March 2022. During Q4FY23, its net profit stood at Rs. 63.57 cr up by 14.52% YoY from Rs. 55.51 Cr in Q4FY22. Time Techno EPS has increased to Rs. 2.81 in the quarter under review from Rs. 2.45 in the year-ago quarter.

The shares of Time Technoplast closed today on the BSE at ₹89.01 apiece up by 3.15% from the previous close of ₹86.29.

Archean Chemical Industries 

The Board of Directors have “Recommended a final dividend of ₹2.50 per equity share of Rs.2/- each (125%) for the financial year ended 31st March, 2023, subject to the approval of shareholders.”

During Q4FY23, the company recorded revenue from operations of ₹382.37 Cr as compared to ₹372.60 Cr in Q4FY22, representing a gain of 2.62% YoY. The company said its net income reached ₹390.70 Cr during the quarter ended March 2023 as compared to ₹376.14 Cr during the quarter ended March 2022. Archean Chemical Industries said its net profit stood at ₹136.50 Cr during the quarter under review up by 67.36% YoY from ₹81.56 Cr recorded during the year-ago quarter.

The shares of Archean Chemical Industries closed on Monday at ₹547.25 apiece on the BSE up by 2.98% from the previous close of ₹531.40.