Mid cap stock to pay ₹15 per share dividend soon, FIIs raise stake in Q3
- A mid size firm, KSB Ltd., closed on Thursday with a market valuation of ₹7,806.88 Cr.
A mid size firm, KSB Ltd., closed on Thursday with a market valuation of ₹7,806.88 Cr. KSB specialises in monobloc and mini monobloc pumps, hydro pneumatic systems, control valves, industrial gate, globe, and check valves as well as centrifugal end suction pumps, high-pressure multistage pumps, and submersible motor pumps. The KSB Group, which comprises 4 zonal offices, 16 branch offices, 800+ authorised dealers, 4 service stations, 200+ authorised service centres, and 21 godowns, is one of the top providers of high-quality pumps and valves.
The company said in a stock exchange filing that, the Board of Directors have made “The recommendation of payment of Dividend of INR 15.00 (150%) per equity share on 3,48,07,844 equity shares (Face Value INR 10 each fully paid up) for the financial year ended on 31st December, 2022 and the same shall be payable subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.”
The Annual General Meeting of the Company will be held on Thursday, 11th May, 2023 and the register of members and share transfer books of the company will remain closed from 30th April, 2023 to 11th May, 2023 (both days inclusive) for the purpose of Annual General Meeting and payment of dividend, to be declared, according to KSB Ltd. As per the data available on BSE, KSB has fixed 11/05/2023 as the record date and 28 April 2023 as the ex-date for the purpose of dividend.
For the fiscal year that ended in December 2022, KSB has announced a 150.00% equity dividend at a face value of ₹10, or ₹15 per share. This generates a dividend yield at the current share price of Rs. 2242.85 of 0.67%. The company has a solid track record of dividend declarations during the past five years. Since December 12, 2000, KSB Ltd. has issued 37 dividends, according to data from Trendlyne. KSB Ltd. declared an equity dividend worth ₹12.50 per share over the previous 12 months. This generates a dividend yield at the current share price of ₹2242.85 of 0.56%.
On Thursday, the shares of KSB Ltd closed on the BSE at ₹2242.85 apiece level, up by 0.94% from the previous close of ₹2221.95. The stock touched a 52-week-high of ₹2,278.95 on (10/04/2023) and a 52-week-low of ₹1,183.65 on (12/05/2022). During Q3FY23, the company recorded a promoter shareholding of 66.69%, FIIs stake of 3.23%, DIIs stake of 10.85%, and a public stake of 19.21%. As per the data of Trendlyne, promoters holding of KSB remains unchanged at 66.69% in December 2022 quarter, FII/FPI stake grew from 3.17% in September 2022 quarter to 3.23% in December 2022 quarter, the number of FII/FPI investors plummeted from 105 to 104, mutual funds stake plummet from 8.08% to 8.05% and institutional investors stake grew from 13.94% in Q2FY23 to 14.08% in Q3FY23.
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