25% Dividend: Microcap Hotels Stock Set To Trade Ex-Dividend On September 04

Asian Hotels (East) Ltd. has informed the stock exchanges that the company's Board has fixed Monday, Sept 04, 2023m as the "Record Date" for the dividend (if declared at the AGM). In addition, the record date is fixed as the "Cut-Off Date" for the purpose of determining the Members eligible to vote on the resolutions set out in the Notice of the AGM.

The Board, on May 22, 2023, recommended a dividend of 25% i.e. Rs 2.50/- per fully paid-up equity shares of Rs 10/- each for the year ended 31st March, 2023. The company has a market cap of Rs 68,96 Crore.

"the "Record Date" for the purpose of determining the Members eligible to receive dividend for the financial year 2022-23. The dividend, if declared at the AGM, will be paid/credited/dispatched within a period of 30 days from the date of declaration," the Board said in an exchange filing.

Dividend - "The Board of Directors recommended dividend of 25% i.e. Rs. 2.50/- per fully paid-up equity shares of Rs. 10/- each for the year ended 31st March, 2023, subject to a declaration of the same by the Members at the ensuing 16th Annual General Meeting (AGM) and it will be credited/dispatched to the members on or before 30 days from the date of AGM," the Board said in a exchange filing on May 22, 2023.

Stock Performance - On Friday, the stock closed at Rs 0.49% higher at Rs 120.85 per share on BSE. The stock has fallen 5.92% in the last 1 week, and 4.58% in the last 1 month, respectively. It declined 7.57% in the last 1 year. It jumped 49.09% in the last 3 years, while it has fallen 15.32% in the last 5 years.

It touched 52-week high on Sept 23, 2023, at Rs 206.53 per share and 52-week low on Mar 28, 2023, at Rs 82.10 per share on BSE.

About the company - Asian Hotels (East) Ltd. is a Hotels & Resorts sector company primarily engaged in the hotel business through - "Hyatt Regency Kolkata" a five-star hotel in the city of Kolkata. The Company was originally incorporated as Vardhman Hotels Private Limited on January 8, 2007, under the Companies Act, 1956.

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