Home / Markets / Stock Markets /  Multibagger stock is paying 1000% dividend and 7.76% yield, turning ex-dividend soon

In the automobile industry, Banco Products (India) is a small cap company with a market valuation of 1,826.59 Crore. In the field of engine cooling and sealing systems for both automotive and industrial applications, the firm is a pioneer. For the fiscal year that ended on March 31, 2022, the Board of Directors has recommended a dividend of Rs. 20.00 (1000% at face value of 2) per equity share, subject to shareholder approval at the ensuing Annual General Meeting. The stock will trade ex-dividend on September 6, 2022, and the company has set September 22, 2022, as the record date for determining shareholders' eligibility.

The company has said in a regulatory filing that “The Register of Members and the Share Transfer Books of the Company shall remain closed from 8th September, 2022 to 22nd September, 2022 (both days inclusive) for the purpose of ascertaining the entitlement for payment of dividend. Dividend upon its declaration at the Annual General Meeting will be paid @ Rs.20.00 per Equity Share of the Company on or after 12th October, 2022 to those members whose names appear on the Register of Members of the Company on the Book Closure Date.

The company has further said in a stock exchange filing that “We wish to inform that the 61st Annual General Meeting (AGM) of the Company is scheduled to be held on the Thursday, 22nd September, 2022 at 10.30 a.m. (1ST) through Video Conference (VC)/ Other Audio Visual Means (OAVM), in accordance with the relevant Circulars issued by the Ministry of Corporate Affairs (MCA) and Securities Exchange Board of India (SEBI)."

Banco Products Dividend History

Banco Products Dividend
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Banco Products Dividend (bseindia.com)

Banco Products (India) Ltd. shares on the NSE closed today at Rs. 257.65 a piece, up 4.12% from the previous close of Rs. 247.45. At the current market price, the dividend of 20 per share results in a dividend yield of 7.76%. In trade today, the stock made a 52-week-high of 265.00 per share, and the stock had touched a 52-week-low of 118.10 on 12th May 2022 which indicates that at the current share price, the stock is trading 118.16% above the low.

The stock price climbed from 29.65 on December 22nd, 2006 to the level it is at now, representing a multibagger return and an all-time high of 768.97%. The stock has gained 19.48% during the past five years, but over the past three years, it has produced a multibagger return of 172.97%. The stock has gained 30.82% over the past year, and on a year-to-date basis, it has climbed 45.65% so far in 2022. The stock has risen by 74.92% during the past six months, and it has generated a multibagger return of 106.83% over the past three months.

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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