This CDGS stock fixes record dater for 200% dividend, takes the yield to 6.94%
With a market worth of Rs. 1,518.05 crore, Jagran Prakashan Ltd. is a small-cap company that operates in the media and entertainment industry.
PremiumWith a market worth of Rs. 1,518.05 crore, Jagran Prakashan Ltd. is a small-cap company that operates in the media and entertainment industry. Consumer Discretionary Goods & Services (CDGS) is the industry in which the firm operates. The Board of the company approved the payment of interim dividend for the financial year 2022-23 of 4 /- each per equity share on 26,36,54,272 fully paid-up equity shares of the face value of 2/- each (i.e. 200%), this results in a dividend yield of 6.94% at the current market price of ₹57.60.
The company has said in a regulatory filing that “In furtherance to our letter dated July 26, 2022 and pursuant to the provisions of Regulation 30(2), 33 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time ("Listing Regulations"), the Board of Directors at its meeting held today i.e. on Saturday, August 6, 2022 which commenced at 12:30 P.M. and concluded at 02:30 P.M. has, inter-alia:- Considered and approved the payment of Interim Dividend for the Financial Year 2022-23 of 4 /- (Rupees Four only) each per Equity share on 26,36,54,272 fully paid-up equity shares of the face value of 2/- (Rupees Two only) each (i.e. 200%), subject to the deduction of tax as per the applicable provisions of the Income Tax Act, 1961 as amended from time to time (subject to Tax Deducted at Source). In accordance with the provisions of Regulation 42 of the Listing Regulations, the Record Date for the purpose of determining the entitlement of the shareholders to receive the interim dividend for the financial year 2022-23 is fixed as Friday, August 19, 2022. The Interim Dividend will be paid to such shareholders on or before September 2, 2022."
Jagran Prakashan has said in its earning statement that “During the quarter ended June 30, 2022, the Company has acquired 2,915,512 equity shares of its subsidiary Music Broadcast Limited ("MBL") for Rs. 663.17 Lakhs from the open market at an average price of Rs. 22.75 per share. Pursuant to this, the Company's share holding in MBL has increased from 73.21% as on March 31, 2022 to 74.05% as on June 30, 2022."
Jagran Prakashan Ltd. shares ended trading on Friday at Rs. 57.60 per share, up 4.82 per cent from the previous close. The stock has dropped 10.63 per cent over the past year, and on a year-to-date basis, it has fallen 7.47 per cent so far in 2022. The stock has declined 17.24 per cent over the last six months but has gained 11.84 per cent over the past month.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
