BackMultibagger stock shall pay ₹13 per share dividend soon: Check record date
The consumer discretionary goods and services (CDGS) industry is represented by Veljan Denison Ltd, a small cap company with a market cap of ₹309.42 crore
PremiumThe consumer discretionary goods and services (CDGS) industry is represented by Veljan Denison Ltd, a small cap company with a market cap of ₹309.42 crore. The company was founded in 1965. Pumps, Motors, Valves, and custom-built Power systems/Manifold blocks are all manufactured by the Veljan Denison Limited firm. In and around Hyderabad, India, the firm has a number of production facilities where it has been developing and producing a wide range of pneumatic and hydraulic products, systems, and components for more than 50 years. The company has declared September 23, 2022, as the record date for the purpose of paying a dividend of Rs. 13 per equity share (or @130%).
In May, the company had declared that “Pursuant to Regulation 30 of the SEBI(LODR) Regulations, 2015, this is to inform you that the Board at its meeting held today i.e, May 30, 2022, has recommended a dividend of Rs.13/- per equity share (i.e. @130%) having face value of Rs. 10/- each for the Financial Year ended on March 31, 2022. The above dividend, if declared by the members at the ensuing Annual General Meeting will be credited/ dispatched within 30 days from the date of declaration."
In September, the company informed stock exchanges that “Pursuant to Regulations 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and section 91 of the Companies Act, 2013, we wish to inform you that: 1. 48th Annual General Meeting of the Company will be held on Friday, September 30, 2022, 2. The Register of Members and Share transfer Books will remain closed from 24th September, 2022 to 30th September, 2022 (both days inclusive) for the purpose of 48th Annual General Meeting of the Company as well as the payment of Dividend. 3. The cut-off date for the purpose of recognizing the eligible members for e-voting is 23rd September, 2022.
The shares of Veljan Denison Limited ended trading on the BSE on Friday at ₹1375.20, down from the previous close of ₹1433.95 by 4.10%. From ₹23.53 on December 12th, 2002, to the current market price, the stock price has risen dramatically, registering a multibagger return and an all-time high of 5,807.35%. The stock has produced a multibagger return of 393.08% during the past ten years. The stock has appreciated 26.24% over the past year, and on a YTD basis, it has climbed 7.07% in 2022. The stock had touched a 52-week-high of ₹1,449.00 on (13/09/2022) and a 52-week-low of ₹850.95 on (29/10/2021).
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