Home / Markets / Stock Markets /  Multibagger stock to turn ex-dividend tomorrow, to pay 12 per share dividend

With a market capitalization of Rs. 575.26 crore, Morganite Crucible (India) Ltd. is a small-cap company that operates in the industrial sector. The company Morganite Crucible (India) Limited produces and sells crucibles and related refractory goods. The firm has declared a 240% dividend with a face value of 5 or 12 per equity share, with a record date of September 20, 2022; as a result, the ex-date is September 19, 2022.

Dividend details of Morganite

Last month, the Board of Directors of the company said that “the Company has fixed Tuesday, September 20, 2022 as the record date for the purpose of 37th Annual General Meeting and determining the Members eligible for dividend on equity shares, subject to approval of the members at 37th Annual General Meeting of the Company."

Since the ex-date for corporate actions like dividend falls one day prior to the record date, the shares of Morganite shall trade ex-dividend tomorrow. The corporation has also said that from Wednesday, September 21, 2022, to Tuesday, September 27, 2022 (both days inclusive), the Register of Members and Share Transfer books would remain closed and its 37th Annual General Meeting to be held on Tuesday, September 27, 2022. Taking the 12 per equity share dividend of Morganite into consideration, the dividend yield goes to 1.17%.

Dividend details of Morganite
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Dividend details of Morganite (bseindia.com)

An investor should purchase shares of a company's stock at least one or two days prior to the ex-date in order to be eligible for dividends owing to India's T+1 and T+2 settlement cycles.

Key takeaways of Morganite

The closing price of Morganite Crucible (India) Ltd's shares on Friday was 1,025.00 a piece, a fall of 2.41% from the previous close of 1,050.30. The stock price has increased dramatically since it was 8.25 on July 14, 1995, to the current market price, which is an all-time high and multibagger return of 12,324.24%. The stock has produced a multibagger return over the past five years of 103.90%, but it has had a decline during the past year of 1.27%. The stock climbed 9.36% year-to-date (YTD) in 2022. The stock had touched a 52-week-high of 1,213.00 on (16/09/2021) and a 52-week-low of 835.00 on (16/03/2022), indicating that at the current market price the stock is trading 15.49% below the high and 22.75% above the low.

 

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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