At a 37% discount from the high, this stock sets record date for 100% dividend

In the Fast Moving Consumer Goods (FMCG) industry, Indo National Ltd. is a small-cap company with a market cap of Rs. 256.24 crore. The company manufactures Nippo batteries which today has a well-known presence in India. Existing shareholders and potential investors should be notified that the firm has set the record date for the purpose of paying 100% dividend as September 20, 2022.

In May the company had said in a regulatory filing that “A dividend of Rs.5/- per share (100%) for the financial year ended 31st March 2022 was recommended by the Board.”

Last month, the company informed stock exchanges that “The 49th Annual General Meeting of the Company is scheduled to be held on Tuesday the 27th September 2022 through Video Conferencing ("VC") / other Audio Visual means ("OVAM") and the Register of Members & Share Transfer Books of the Company will remain closed from Wednesday the 21st September 2022 to Tuesday the 27th September 2022 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting (AGM) of the Company to be held on 27th September 2022. The Company has fixed Tuesday the 20th September 2022 as the cut-off date to record the entitlement of the Shareholders to cast their vote electronically at the 49th Annual General Meeting by electronic means under the Companies Act, 2013 and rules made there under read with SEBI (LODR) Regulations 2015. Consequently the same cut-off date of 20th September 2022 would record entitlement of Shareholders who do not cast their vote electronically, to cast their vote at the 49th Annual general meeting of the company to be held on 27th September 2022. The E-Voting period will commence on Saturday 24th September 2022 at 9.00 a.m. and ends on Monday the 26th September 2022 at 5.00 p.m..”

On the NSE, the shares of Indo National Ltd closed on Friday at ₹341.50 apiece, down by 3.16% from the previous close of ₹352.65. In the last 1 year, the stock has fallen 33.55% and on a YTD basis, the stock has fallen 32.07% so far in 2022. On the NSE, the stock had touched a 52-week-high of ₹550.00 on (14-October-2021) and a 52-week-low of ₹288.15 on (21-June-2022), indicating that at the current price point the stock is trading 37.90% below the high and 18.51% above the low.