Rs 23.55/Share Dividend: Chemical Stock In Focus Ahead Of 235.50% Dividend Payout, Rises 17% In 1 Month

Gujarat Alkalies and Chemicals Limited, one of the largest producers of Caustic Soda in India, will be in focus on Monday as they will trade ex-dividend for a 235.50% dividend payout to shareholders. In a month, Gujarat Alkalies shares have zoomed by 17% on BSE.

As per the regulatory filing, Gujarat Alkalies recommended a dividend of Rs 23.55 per share (i.e. 235.50%) on 7,34,36,928 Equity Shares of Rs 10 each fully paid up for the year ended March 31, 2023.

This is higher compared to the dividend payout of 100% or Rs 10 per share for FY22.

The dividend on equity shares, if declared at the AGM, will be paid on or after Saturday, September 30, 2023, to the Members, whose names appear in the Register of Members/list of Beneficial Owners as of 19th September, 2023 i.e. the date before the commencement of book closure.

Hence, the company's shares will trade ex-dividend on September 18.

Last week, on BSE, this chemical stock ended at Rs 741.80 apiece up by 0.51% on Friday. The company's market value stood at Rs 5,447.55 crore.

On the current price level, the company's dividend yield is around 3.17%. The stock's 52-week high is of Rs 966 and a 52-week low of Rs 556.05.

Year-to-date, Gujarat Alkalies shares have witnessed a volatile performance on exchanges, falling nearly 3% so far. However, in the past 1 month, the stock has shown significant recovery and even rallied by Rs 108 or 17% on BSE.

Gujarat Alkalies and Chemicals is engaged in the business of industrial chemical products which are committed to enhancing customer satisfaction and continual improvement in its QHSE Management Systems and Performance.

Despite aggressive competition and the volatile market conditions prevailing during the quarter ended 30th June 2023, Gujarat Alkalies could achieve the Sales Turnover of Rs 892.32 crore as against the Sales Turnover of Rs 1,106.62 crore during the corresponding quarter of the previous year.

Further, in the quarter, EBITDA for the first quarter of the Financial Year 2023-24 stands at Rs 66.50 crore as against EBITDA at Rs 387.65 crore, pertaining to the corresponding quarter of the previous year. Further, loss Before Tax for the first quarter stands at Rs 33.47 crore as against the Profit Before Tax at Rs 336.26 crore, pertaining to the corresponding quarter of the previous year.

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