Home / Markets / Stock Markets /  Dolly Khanna portfolio stock sets record date for 20 per share dividend

With a market valuation of 1,785.13 crore, Monte Carlo Fashions Ltd. is a small cap company that operates in the consumer discretionary industry. The leading clothing brand in India, Monte Carlo, provides online shopping for both men, women and kids. In 1984, Oswal Woolen Mills Ltd., the major company of the Nahar Group, established Monte Carlo Fashions Ltd., which is now one of India's leading garment manufacturers with a portfolio of businesses in clothing and fashion. Existing shareholders and potential investors should be mindful of the company's record date for the 20 per share dividend.

The company said in a regulatory filing that its Board of Directors has “Recommended a final dividend of 20/-(Rupees Twenty Only) per Equity Share (i.e. 200%) having Face Value of 10/- (Rupees Ten Only) each for the Financial Year 2021-2022. The Final Dividend will be paid after approval of the Shareholders at the ensuing Annual General Meeting of the Company."

In order to determine the eligibility of the shareholders for the dividend purpose, the Board of Directors has announced the record date and has informed the exchanges by saying that “Further, pursuant to provisions of Section 91 of the Companies Act, 2013 and the rules framed there under and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books of the Company will remain closed from Thursday, September 22, 2022 to Wednesday, September 28, 2022 (both days inclusive) for the purpose of payment of dividend and 14th Annual General Meeting (AGM) of the Company. Dividend on Equity Shares as recommended by the Board, if approved at the ensuing Annual General Meeting shall be paid to those members whose names will appear in the Register of Members as on Wednesday, September 21, 2022 and Register of Beneficial Owners maintained by the depositories at the close on that date."

The closing price of the shares of Monte Carlo Fashions Ltd on Friday was 861.00 a piece, up 0.23% from the previous close at the NSE of 859. At the current market price, the yield climbs to 2.32% when the dividend per share of 20 is taken into account. Dolly Khanna holds 3,69,032 shares, or 1.78 per cent stake in Monte Carlo, as per the shareholding pattern of the quarter ended June 2022 available on BSE. The Dolly Khanna portfolio stock generated multibagger returns of 133.05% in 1 year and 266.01% in the last three years. The stock has gained 42.06% year-to-date (YTD) so far in 2022.

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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