This small-cap stock is to pay a 250% dividend soon, check record date here
1 min read . Updated: 29 Aug 2022, 08:26 PM IST
Premium- With a market cap of ₹2,326.84 Cr, Gulf Oil Lubricants India Ltd. is a small company in the energy sector.
With a market cap of ₹2,326.84 Cr, Gulf Oil Lubricants India Ltd. is a small company in the energy sector. One of India's top lubricant manufacturers and marketers, Gulf Oil Lubricants India Ltd (GOLIL), is a subsidiary of the Hinduja Group and focuses largely on the automotive and industrial markets. The company's board of directors recommended a dividend of Rs. 5 each equity share of Rs. 2 each (250%) for the fiscal year 2021–2022.
The company said in a regulatory filing that its Board of Directors approved “Recommendation of dividend of Rs. 5/- per equity share of Rs. 2 each (250%) for the financial year 2021-22. The Dividend, if approved by the members at the ensuing Annual General Meeting (AGM), will be paid/dispatched (subject to deduction of tax at source) after the AGM and within 30 days of its declaration."
On 3rd August, the Board of Directors informed stock exchanges by saying that “Register of Members and Share Transfer Books of the Company will remain closed from Saturday, September 10, 2022 to Friday, September 16, 2022 (both days inclusive) for the purpose of determining the eligible shareholders for the payment of dividend. The Dividend, if approved by the Members of the Company at the ensuing AGM, will be paid/dispatched by the Company in permitted modes on or after Saturday, September 17, 2022 within the stipulated timelines to those Shareholders or their mandates."
As per the data available on BSE, 08th September 2022 has been fixed as the ex-date for dividend and since the ex-date falls one day prior to the record date, 9th September 2022 would fall as the record date for dividend of Gulf Oil Lubricants.
Today, the shares of Gulf Oil Lubricants India Ltd closed at ₹479.45 apiece, up by 4.26% from the previous close of ₹459.85 per share. In the last 1 year, the stock has fallen 20.76% and on a YTD basis, the stock has gained 5.03% so far in 2022. On the NSE, the stock had touched a 52-week-high of ₹625.85 on (27-August-2021) and a 52-week-low of ₹377.60 on (12-May-2022) indicating that at the current market price the stock is trading 23.39% below the high and 26.97% above the low.
