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Business News/ Markets / Stock Markets/  With a 5-year CAGR of 101%, multibagger stock fixes record date for dividend

A small-cap company with a market worth of 2,193.30 crore, GRM Overseas Ltd. operates in the fast-moving consumer goods (FMCG) industry. More than 38 countries are marketplaces for the rice produced by the firm, which is also India's third-largest rice exporter. The company, a manufacturer and seller of high-quality basmati rice, has partnered with 1800 retailers worldwide and operates through a network of sales and distribution offices in the UK, USA, and Middle East to serve its customers. The company's Board of Directors has declared an interim dividend of Rs. 0.20 (i.e., 10%) per equity share with a face value of Rs. 2.00 for the fiscal year 2022–23, for which the record date has been fixed.

On Wednesday, the company said in a regulatory filing that “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their meeting held on Wednesday, the 17th day of August 2022, has approved, inter-alia, the following: Declared Interim Dividend of Rs. 0.20 /- (i.e. @ 10%) per Equity Share of face value of Rs.2.00/- each for the Financial Year 2022-23 in line with Dividend Distribution Policy of the Company. Fixed 29th day of August, 2022 as the Record date for Payment of 2nd Interim Dividend for FY 2022- 23 as per Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."

The shares of GRM Overseas Ltd closed today on the NSE at 365.55 apiece, down by 1.19% from the previous close. The stock price has risen from 0.10 as of 1st October 2004 to the current price which logs in a multibagger return and an all-time high of 365,450.00%. The stock price climbed from 11.41 on August 24, 2017, to its present level over the past five years, resulting in a multibagger return of 3,103.77% and an approximate CAGR of 101.46%. The stock has achieved a multibagger return of 117.77% over the past year, but it has experienced a YTD drop of 44.23% so far in 2022.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Updated: 18 Aug 2022, 10:51 PM IST
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