Paint Stock To Consider Bonus Share, Set To Go Ex-Dividend For 320% Dividend On Aug 4

Large cap stock operating in building materials sector, Berger Paints India Ltd on Tuesday informed BSE that its board will hold a meeting on August 9, 2023 to consider proposal of bonus share issuance. Soon after Berger Paints India shares rallied 3.02% on BSE and currently trading near 52-week high price of Rs 710.00 per share. Check details below:

Berger Paints India To Consider Proposal Of Bonus Issue: According to the BSE filing of Berger Paints India dated August 1, 2023, "We would like to inform you that a Meeting of the Board of Directors of Berger Paints India Limited, will be held on Wednesday, 9th August, 2023, to inter-alia, consider and approve the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended on 30th June, 2023.

Please also be informed that the Board of Directors at its Meeting scheduled to be held on 9th August, 2023 may consider the proposal for issue of "Bonus Shares" by capitalisation of reserves, subject to approval of the shareholders of the Company."

Berger Paints India Bonus Share History: The company since March 2004 declared 3 bonus issue. And, if it announces bonus share on August 9, 2023, it will be its fourth bonus issue since 2004. Previously, it went ex-bonus on July 15, 2016 in the proportion of 2:5.

Berger Paints India To Go Ex-Dividend On Aug 4: The company in its BSE filing dated July 7, 2023 stated, "The Board at its Meeting held on 15th May, 2023 had recommended a Dividend of Rs. 3.20 (i.e., 320%) per equity share of Re 1/- each fully paid-up of the Company for the financial year ended on 31st March, 2023 subject to approval of the Members at the 99th AGM to be paid to those Members holding shares in physical form and whose names appear in the Register of Members as on 11th August, 2023 and, holding shares in electronic form, to those whose names appear in the list of beneficial holders furnished by the respective Depositories as at the end of business hours on 4 th August, 2023.

Berger Paints Stock Performance & Return: Last trading price of Berger Paints share is Rs 702.70 per share. Its 52-week low price is Rs 527.60 per share. The large cap stock has a market capitalisation of Rs 68,261.86 crore. Berger Paints shares soared 28% in last 6-months, rallied 12% in last 1-year, declined 17% in last 2-years, and gave return of 33% in last 3-years.

Berger Paints India Financial Outlook: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 2458.70 crore, down 9.09% as compared to its last quarter total income of Rs 2704.47 crore. It announced its recent quarter net profit after tax at Rs 208.20 crore.

Disclaimer: The stock highlights the dividend, bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.