Home / Markets / Stock Markets /  This small cap debt free stock fixes record date for 150% dividend payout
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Honda India Power Products Ltd., an industrial and capital goods firm with a market valuation of Rs. 1,471 crore, is a small-cap corporation. Honda India Power Products Limited (HIPP), the leading manufacturer of power products in India, is a subsidiary of Honda Motor Co., Japan. It presently has 600 dealers, more than 2.5 million customers, and 35 export countries on record. The company manufactures and sells various portable generators, water pumps, tillers, and general-purpose engines. It also manufactures lawnmowers, brush cutters, and long-tailed outboard motors. As per the data of Value Research and Screener the company is debt-free which can sound good for the investors, but what will sound more exciting is the company has fixed record date for the purpose of 150% dividend.

The company has said in BSE exchange filing that “Pursuant to Regulation 42 of LODR, the Register of Members and Share Transfer Books of the Company will remain closed from Tuesday, September 20, 2022 to Monday, September 26, 2022 (both days inclusive) for the purpose of 37" AGM of the Company and for determining the eligibility of shareholders for payment of dividend of Rs. 15.00 per equity share of Rs.10 each."

Honda India Power Products also informed BSE by saying that “The said dividend, if declared at 37" AGM will be paid in respect of shares held in physical form to those Members whose names appear in the Register of Members of the Company on September 20, 2022 after giving effect to all valid transfers lodged with the Company on or before September 19, 2022. In respect of shares held in electronic form to those Beneficial Owners whose names ,appear in the statement of beneficial ownership furnished by National Securities Depository Limited and Central Depository Services (India) Limited as at the end of business hours on September 19, 2022."

“You are further informed that dividend payout for equity shares of the Company is October 21, 2022," the company has confirmed to BSE.

Honda India Power Products' shares traded today at 1,450, closing down 1.80% from the previous close of 1476.60. The stock has produced a return of 16.56 per cent over the last year, and year-to-date (YTD), it has gained by 11.07 per cent so far in 2022. The stock generated a return of 10.66 per cent during the previous six months, but it has dropped 16.15 per cent over the last month. The stock has dropped more than 2% in the past week and 3.20 per cent over the past five days. The stock's 52-week high on the NSE was 1,808.95 on May 20, 2022, and its 52-week low was 1,121.50 on August 10, 2021. This means that at its current price of 1,450, the stock is trading 19.84 per cent below its 52-week high and 29.29 per cent above its 52-week low. The stock is trading above the 50-day, 100-day, and 200-day moving averages but below the 5-day and 20-day moving averages based on the current market price.

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