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Business News/ Markets / Stock Markets/  Do you own this multibagger stock going to give a 450% dividend soon?
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Do you own this multibagger stock going to give a 450% dividend soon?

AIA Engineering Ltd is a large Cap company having a market cap of ₹23,996.05 Crore operating in the industrial sector.

The shares of AIA Engineering Ltd closed today on the NSE at ₹2,549.00 apiece, down by 1.71% from the previous close of ₹2,593.35 per share. (istockphoto)Premium
The shares of AIA Engineering Ltd closed today on the NSE at 2,549.00 apiece, down by 1.71% from the previous close of 2,593.35 per share. (istockphoto)

AIA Engineering Ltd is a large Cap company having a market cap of 23,996.05 Crore operating in the industrial sector. The firm specializes in the design, development, production, installation, and maintenance of high chromium wear, corrosion, and abrasion-resistant castings used in the cement, mining, and thermal power generation sectors. Vega Industries is a fully owned subsidiary of the company and currently, AIA Engineering Ltd operates in the four business sectors including cement, mining, power, and aggregates.

AIA Engineering Dividend

As per the data available on the BSE, the company has announced a final dividend of 450% at a face value of 2.00 per share or 9 per share dividend for the financial year ending March 2022. For the purpose of the same, the Board of Directors have fixed 12/09/2022 as the record date and the stock shall trade ex-dividend on 02 September 2022.

AIA Engineering Dividend
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AIA Engineering Dividend (bseindia.com)

“The Board has recommended a Dividend of 9.00/- per Equity Shares of 2/- each (i.e. 450% Dividend). The above dividend, if declared by the Members of the Company at the ensuing Annual General Meeting will be credited/paid within 30 days from the date of the Annual General Meeting," the company said in a regulatory filing.

“We hereby informed you that the Company has decided to hold the 32nd Annual General Meeting of the Company on Monday, 12th September, 2022 through Video Conferencing/Other Audio Visual Means in accordance with the relevant circulars issued by Ministry of Corporate Affairs and Securities and Exchange Board of India. Please further take note that Register of Members & Share Transfer Book of the Company will remain closed from Tuesday, September 6, 2022 to Monday, September 12, 2022 (both days inclusive) for the purpose of payment of Dividend and Annual General Meeting of the Company. The Dividend amount, if declared by the shareholders at Annual General Meeting, is proposed to be paid/dispatched on or before October 11, 2022," the Board of Directors said in BSE filing.

The shares of AIA Engineering Ltd closed today on the NSE at 2,549.00 apiece, down by 1.71% from the previous close of 2,593.35 per share. The stock price has risen from 113.72 as of 16th December 2005 to the current price level which logs in a multibagger return and an all-time high of 2,141.47%. In the last 5 years, the stock has gained 93.82% and 31.87% in the last 1 year. On a YTD basis, the stock has gained 37.36% so far in 2022. On the NSE the stock had touched a 52-week-high of 2,654.10 on (11-August-2022) and a 52-week-low of 1,475.05 on (07-March-2022) indicating that at the current price level the stock is trading 3.95% below the high and 72.80% above the low.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 26 Aug 2022, 10:14 PM IST
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