Multibagger stock that has surged 550% in five years to consider dividend, stock split, buyback of shares

Multibagger stock: The board of directors of Hindcon Chemicals Ltd will soon consider and approve interim dividend for the financial year 2023-24. The board will also consider and approve the proposal for stock split and buyback of shares. The NSE listed small-cap company in formed Indian bourse about the developments and said that board meting has been scheduled on 26th August 2023 in which these proposals will be considered and approved by board members.

Hindcon Chemicals Ltd informed NSE about interim dividend, stock split and buyback of shares citing, "This is to inform you that pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Meeting of the Board of Directors of the Company will be held on Saturday, the 26™ day of August, 2023, inter alia, to transact the following business: To consider Interim Dividend for the financial year 2023-24; To consider buyback and / or Split of face value of the Equity shares and to fix the date of Extra-ordinary General Meeting and approve notice for convening extra-ordinary General Meeting for Split and / or Buyback of Equity Shares of the Company."

The small-cap company has already declared interim dividend record date on 25th August 2023. So, those who hold Hindcon Chemicals shares on 25th August 2023 will be eligible for the interim dividend to be declared on 26th August 2023.

Hindcon Chemicals share price history

Hindcon Chemicals shares are one of the multibagger stocks that Indian stock market has produced in last one year. In last one year, this small-cap stock with a market cap of near ₹139 crore has risen from around ₹63 to ₹136 apiece levels, logging more than 115 per cent rise in this time. In last five years, this small-cap multibagger stock has risen from around ₹21 to ₹136 apiece levels, delivering to the tune of 550 per cent return to its positional long term shareholders.

This multibagger stock ended on Monday with a market cap of near 139 crore. It ended on Monday with a trade volume of 51,214, which is much lower than its last 20 days average trade volume of 1,31,694. Its 52-week high is ₹146.80 whereas its 52-week low is ₹61.25 per share.

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