110% Payout In FY23: Board To Consider Dividend Tomorrow, Record Date Fixed; Buy?

During Tuesday's closing session, Kirloskar Ferrous Industries, a small-cap metal firm, had a market cap of Rs 7,751.17 Cr. Kirloskar Ferrous Industries Limited is a leading company in the business of pig iron and iron castings. A meeting of the Board of Directors of the company is scheduled to be held on Thursday, 7 March 2024 to consider, inter-alia, the dividend if any, for the financial year 2023-2024 which makes the stock to be in focus.

Kirloskar Ferrous Industries News

"Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; this is to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 7 March 2024 to consider, inter-alia, the Dividend if any, for the financial year 2023-2024. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and subject to declaration of the interim dividend by the Board of Directors of the Company; the Record Date has been fixed as Saturday, 16 March 2024 for ascertaining the list of members entitled to the dividend.

This is to further inform that the Trading Window for dealing in securities of the Company shall remain closed from 5 March 2024 to 10 March 2024 (both days inclusive), in terms of the 'Code of Conduct for regulating, monitoring and reporting of Trading by Designated Persons and Immediate Relatives of Designated Persons of Kirloskar Ferrous Industries Limited' adopted pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015," said Kirloskar Ferrous Industries in a regulatory filing on Monday.

Kirloskar Ferrous Industries Dividend Yield

Kirloskar Ferrous Industries has announced an equity dividend of 110.00% at a face value of Rs 5 for the year ending in March 2023 totalling Rs 5.5 per share. With the current share price of Rs. 556.55, this translates into a 0.98 per cent dividend yield. For the past five years, the firm has regularly distributed dividends and has a strong dividend track record. According to Trendlyne statistics, Kirloskar Ferrous Industries Ltd. has issued 22 dividends since September 4, 2002.

Kirloskar Ferrous Industries Share Price Target

Kirloskar Ferrous Industries is slightly bearish on the Daily charts with strong resistance at 487. A daily close above this resistance could lead to a target of 510. Next support will be at 427, said AR Ramachandran from Tips2trades.

Disclaimer

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