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Business News/ Markets / Stock Markets/  Dividend stock: Multibagger chemical stock declares final dividend for fourth straight year
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Dividend stock: Multibagger chemical stock declares final dividend for fourth straight year

Dividend stock: Multibagger chemical stock has declared 20% final dividend payable in the financial year 2023-24

Fineotex Chemical Q4 results 2024: The comnpany's Revenue from Operations for the quarter rose to ₹153.01 crore from nearly ₹137.69 crore, marking an impressive growth of 11.13%.Premium
Fineotex Chemical Q4 results 2024: The comnpany's Revenue from Operations for the quarter rose to 153.01 crore from nearly 137.69 crore, marking an impressive growth of 11.13%.

Dividend stock: Fineotex Chemical, a leading player in the chemical industry, is one of the dividend-paying stocks of the Indian stock market. The dividend stock has declared a 20 percent final dividend for its eligible shareholders, payable in the financial year 2023-24. After declaring this final dividend for FY24, the multibagger stock has gone on to announce a final dividend for the fourth year in a row. The chemical company declared a final dividend in FY21, FY22, and FY23 as well. The company announced the final dividend while announcing its Q4 results in 2024 on Wednesday evening.

Fineotex Chemical dividend details

The multibagger chemical stock informed the Indian stock market exchanges about the decision, saying, "In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that the Board has recommended a final dividend of Rs. 0.40/- per equity share (20% of face value of Rs. 2/- each) which amounts to Rs. 4,46,93,995.60/- (Rupees Four Crore Forty-Six Lacs Ninety Three Thousand Nine Hundred and Ninety Five Sixty Paise only) subject to the approval of members at the ensuing Annual General Meeting."

Fineotex Chemical's dividend history

As per the information on the official website of BSE, this is the fourth straight year when the dividend stock has declared its final dividend. The multibagger stock traded 'ex-dividend ', a term used to indicate that the buyer of the stock on or after this date is not entitled to the recently declared dividend, on 8 July 2021 for finalizing the list of eligible shareholders for payment of 0.30 per share final dividend. On 28 July 2022, the dividend stock traded ex-dividend for payment of 0.40 per share final dividend to the eligible shareholders. Last year, on 8 September 2023, Fineotex Chemical shares traded ex-dividend to ascertain eligible shareholders for payment of 0.80 per share final dividend.

In 2024, the dividend-paying stock traded ex-dividend on 26 February to ascertain the list of eligible shareholders for payment of 1.20 per share as an interim dividend.

Fineotex Chemical Q4 results

Fineotex Chemical's Q4 results have shown a promising increase in revenue. Revenue from Operations for the quarter rose to 153.01 crore from nearly 137.69 crore, marking an impressive growth of 11.13 percent. This positive financial performance is a testament to the company's strong position in the market and its ability to deliver consistent returns to its shareholders.

- The Profit after tax (PAT) for the quarter ended has increased to around 30.48 crore from around 26 crore, i.e., a growth of 17.21 percent.

Multibagger stock

Fineotexh Chemical's share price rose from around 15 to 365 per share in the post-COVID period, a period marked by the company's resilience and adaptability to the changing market conditions. In these nearly four years, the chemical stock has delivered a whopping 850 percent return to its positional shareholders, a testament to our strong fundamentals and the trust of our investors.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 29 May 2024, 01:57 PM IST
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