BackDividend paying stock: Cement share surges over 12% after 100% dividend proposal
Dividend paying stock: JK Lakshmi share price has dipped near 26 per cent in year to date (YTD) time whereas in last 6 months, this stock has tumbled near 30 per cent
PremiumDividend paying stock: After Board of Directors of JK Lakshmi Cement Limited recommending 100 per cent dividend for FY2021-22, JK share price surged over 14 per cent in early morning deals on Thursday. JK Lakshmi Cement shares opened upside around ₹27 per share and went on to make intraday high of ₹448 apiece levels. The Board of Directors of JK Lakshmi Cement Limited had recommended 100 per cent dividend in financial year 2021-22 on Wednesday i.e. 18th May 2022.
In its exchange communication on 18th May 2022, JK Lakshmi Cement Limited informed Indian exchanges citing, "Pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we have to inform you that the Board at its meeting held today, which commenced at 2:15 P. M. and concluded at 4:30 P.M. inter alia recommended a dividend of ₹5/- per Equity Share of ₹5 each (100%) for the Financial Year ended 31st March 2022. The said dividend, if declared by the Members at the ensuing Annual General Meeting, will be credited/ dispatched within three to four weeks of the said Meeting."
JK Lakshmi Cement share price history
After ushering into new year 2022, JK Lakshmi share price has been in consolidation phase and this rise in the cement major's share price could a possible rebound in the counter. JK Lakshmi share price has dipped near 26 per cent in year to date (YTD) time whereas in last 6 months, this stock has tumbled near 30 per cent.
Current market cap of JK Lakshmi Cement Ltd is ₹5,089 crore and its trade volume is 42,01,517. However, its average trade volume in last 20 days stands at 1.50 lakh only, which means huge spurt in volume has been witnessed in the cement scrip in recent sessions. JK Lakshmi Cement shares are standing at a PE multiple of 11.78 while sector PE is 28.54.
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