Home / Markets / Stock Markets /  With an all-time high of 8,980%, this stock fixes record date for 200% dividend
Listen to this article

With a market capitalization of Rs. 8,373.34 crore, Finolex Industries Ltd. is a mid-cap corporation that serves the industrial sector. The leading and most reputable maker of PVC-U pipes and fittings for the plumbing-sanitation, agriculture, and construction industries in India is Finolex Industries Limited (FIL). The company provides a wide variety of products such as CPVC pipes, SWR pipes and fittings, ASTM pipes and fittings, casing pipes, column pipes, sewer pipes, and solvent cement for pipes and fittings for a variety of uses in the two major divisions, plumbing-sanitation, and agriculture. A 200 per cent total dividend has been declared by the Board of Directors, and the record date has been made public.

The company has said in a regulatory filing that “The Board of Directors has recommended a Final Dividend of Rs.2/- and a Special Dividend of Rs.2/- per equity share of face value of Rs.2/- each respectively (i.e. total 200%), for the financial year 2021-22, subject to deduction of income tax at source as applicable. The recommended dividend, if approved by the shareholders at the forty-first AGM scheduled on 30th August 2022, would be paid to those members whose names appear on 23rd August 2022 in the Register of Members or in the Register of Beneficial Owners maintained by the depositories."

Finolex Industries Ltd. shares ended trading on Friday at 135.30 per share, down 0.59 per cent from the previous close. The stock price has risen from 1.49 as of 1st January 1999 to the current level of 135.30 as of 5 August, 3:30 pm IST, which results in a multibagger return and an all-time high of 8,980.54% in 23 years. The stock has dropped 20.71 per cent over the past year, and on a year-to-date basis, it has fallen 34.76 per cent so far in 2022. The stock has dropped 26.23% over the past six months, and 2.63 per cent during the past month. At the present price, the stock is trading 44.66 per cent below its 52-week high and 8.24 per cent above its 52-week low on the NSE, where it reached a 52-week high of 244.50 on October 25, 2021, and a 52-week low of 125.00 on May 10, 2022, respectively. 

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout