BackBoard of chemical company fixes record date for 250% dividend
With a market capitalization of ₹3,050.15 crore, Sudarshan Chemical Industries Ltd. is a small-cap company that operates in the chemical industry.
PremiumWith a market capitalization of ₹3,050.15 crore, Sudarshan Chemical Industries Ltd. is a small-cap company that operates in the chemical industry. The company, which supplies pigment to paints, plastics, inks, cosmetics, textiles, and other applications that primarily serve the coatings, plastics, inks, and cosmetics markets, is the largest manufacturer of pigment in India and has been a major player in international markets for more than 60 years. The firm operates in over 85 nations, has sales offices in India, the Netherlands, the United States, and China, and has over 170 channel partners worldwide. The leading provider of pigments among Indian and multinational corporations has a market share of nearly 35%. For the purpose of dividend, the Board of the company has announced the record date today, in order to determine the eligibility of the shareholders.
The company informed BSE by saying that “The Board of Directors at its meeting held on 26th May, 2022, has recommended Final Dividend of ₹5.00/- per Equity Share of ₹2.00/- each (i.e. 250%) for the Financial Year 2021-22, and if approved by the Shareholders at the ensuing 71st AGM of the Company, such Final Dividend shall be paid between 22nd August, 2022 and 29th August, 2022, to those Shareholders whose name appears as on Tuesday, 2nd August, 2022, i.e. the Record Date."
Today's closing price for Sudarshan Chemical shares was ₹443.60 per share, a gain of 3.42 per cent over the previous close of ₹428.95. The stock has dropped 40.81 per cent over the past year, and on a year-to-date basis, it has fallen 21.04 per cent so far in 2022. The stock has fallen 23.54 per cent over the past six months but has climbed 6.15 per cent over the past month. Based on the last traded price, the stock is trading higher than 5 days, 10 days, 20 days, 50 days moving averages but below the 100 and 200 days simple moving average (SMA). Sudarshan Chemical Industries has announced an equity dividend of 250.00%, or ₹5 per share, for the fiscal year that ended March 2022. The dividend yield at the current share price of ₹443.60 is 1.12 per cent.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
