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Business News/ Markets / Stock Markets/  Small-cap stock to give 1000% dividend after 80% rally in 3 months. Do you own?
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Small-cap stock to give 1000% dividend after 80% rally in 3 months. Do you own?

Dividend paying stock has announced final dividend of ₹20 per equity share of ₹2 each for FY22

Dividend paying stock will trade ex-dividend on 6th September 2022.Premium
Dividend paying stock will trade ex-dividend on 6th September 2022.

Dividend paying stock: The Board of Directors of Banco Products (India) Ltd — a small-cap auto ancillaries company — has decided to recommend 1000 per cent final dividend amounting to 20 per equity share of 2 each, subject to approval by the shareholders in ensuing Annual General Meeting (AGM) for the financial year ended on 31st June 2022. The board of directors of the small-cap company has also fixed 7th September 2022 as record date for final dividend payment. These announcements from the company are like icing on the cake for its shareholders as the stock has delivered around 80 per cent return to its shareholders in last 3 months.

Informing Indian exchanges about the developments in regard to final dividend payment, the small-cap company said, "The Board of Directors has decided to recommend dividend of 20.00/- (1000%) per Equity Share of t 2.00 each, subject to approval by the shareholders in ensuing Annual General Meeting for the financial year ended on 31.03.2022."

"Dividend upon its declaration at the Annual General Meeting will be paid @ Rs.20.00 per Equity Share of the Company on or after 12 October, 2022 to those members whose names appear on the Register of Members of the Company on the Book Closure Date," company added in its exchange filing.

The auto ancillaries company has fixed 15th September, 2022 as cut-off date to enable Shareholders to exercise their right to vote by electronic means during e-voting period on all resolutions set forth in the Notice of 61A4GM or to vote during AGM in accordance with the relevant circulars issued by the Ministry of Corporate Affairs (MCA) and Securities Exchange Board of India (SEBI).

Ex-dividend date

As the company has fixed 7th august 2022 as record date for final dividend payment, the small-cap auto ancillaries stock will trade ex-dividend on 6th August 2022.

Banco Products shares have been in uptrend for last three months as the auto ancillaries stock has surged from around 125 to 225 apiece levels, logging near 80 per cent rise in this period.

Banco Products shares ended on Friday with a market cap of 1,611 crore and its trade volume on Friday was 10,90,590, which is much higher than its average trade volume of 2,89,062 in last 20 trade sessions. Its 52-week high on NSE is 229.35 apiece whereas its 52-week low is 118.10 apiece on NSE.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 20 Aug 2022, 01:06 PM IST
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