Small cap stock fixes record date for 200% dividend, scrip trading at a dividend yield of 11.94%
On Wednesday's closing session, Gloster Ltd, a small-cap company, had a market worth of ₹779.32 Cr.
PremiumOn Wednesday's closing session, Gloster Ltd, a small-cap company, had a market worth of ₹779.32 Cr. The company manufactures and exports a variety of jute and jute-related products, including woven and non-woven jute geotextiles, treated fabrics that are rot- and fire-resistant, and jute products used for packaging industrial and agricultural products.
The Board of Directors has recommended dividend @200% i.e. ₹20 per share for FY23.
For the purpose of dividend, the Board of Directors said in a stock exchange filing that “The dividend as approved by the Board of Directors of the Company is subject to the approval of the shareholders and shall be paid to: (i) All Beneficial Owners in respect of shares held in deniaterialized form as per the data made available by the National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) as at the close of business hours on 29th July 2023; (ii) To all Members in respect of shares held in physical form after giving effect to valid transfers in respect of transfer requests lodged with the Company on or before the close of business hours on 29th July 2023," said Gloster in a stock exchange filing.
Gloster Ltd. has announced six dividends since August 5, 2019, according to Trendlyne statistics. Gloster Ltd. announced an equity dividend worth ₹85 per share over the previous 12 months. This generates a dividend yield at a current share price of Rs. 712.15 of 11.94%. The dividend yield after adjusting for bonus issue and splits is 5.97%.
During Q4FY23, the company recorded revenue from operations of Rs 178.29 Cr which is flat as compared to Q4FY22. The company recorded a net income of ₹181.75 Cr during the quarter ended March 2023 as compared to ₹189.71 Cr during the quarter ended March 2022. The company recorded a net profit of ₹8.35 Cr as compared to ₹10.77 Cr in the same quarter of FY22.
On Wednesday the shares of Gloster closed on the BSE at ₹712.15 apiece down by 0.41% from the previous close of ₹715.10. The stock touched a 52-week-high of ₹1,012.40 on (10/11/2022) and a 52-week-low of ₹425.00 on (20/06/2022).
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