275% Payout In FY23: Zero Promoter Pledge Stock To Pay Interim Dividend Soon In FY24

As of Saturday's closing session, Apcotex Industries, a small-cap company in the capital goods sector, has a market valuation of Rs 2,765.41 Cr. Apcotex Industries' shares wrapped up 1.30% higher at Rs 533.40 a share during Saturday's closing session following the company's announcement that it will be considering an interim dividend soon for FY24.

Apcotex Industries Dividend

"We wish to inform you that, pursuant to Regulation 29 of SEBI (LODR) Regulations, 2015, that a meeting of Board of Directors of the Company is scheduled to be held on Tuesday, 23rd January 2024 inter-alia to consider and approve the audited financial results of the company for the quarter ended 31st December 2023 and consider the proposal for declaration of interim dividend and fix the record date for the same.

In this connection, please refer to the earlier Company intimation dated 25th December 2023, wherein it was informed that pursuant to the Company's Code of Conduct framed in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015 ('the Code'), Trading Window for dealing in shares of the Company, for persons specified under the Code, is closed since 1st January 2024. The Trading Window shall remain closed upto 48 hours after the aforesaid Board Meeting," said Apcotex Industries in a stock exchange filing.

Apcotex Industries Dividend Yield

Apcotex Industries has announced a 275.00% equity dividend, or Rs 5.5 per share, at a face value of Rs 2 for the financial year ended in March 2023. With the current share price of Rs. 533.40, this translates into a 1.04% dividend yield. The business has a strong dividend history and has paid out dividends on a regular basis over the previous five years. Since April 24, 2000, Apcotex Industries Ltd. has issued 25 dividends, according to Trendlyne statistics.

About Apcotex Industries

Based on styrene-butadiene and butadiene-acrylonitrile chemistry, the firm is one of India's top manufacturers of synthetic rubber (NBR & HSR) and synthetic latex (Nitrile, VP latex, XSB & Acrylic latex). Paper, tyre cords, carpets, construction, textiles, footwear, gloves, automotive components, rice dehusking rollers, hoses and speciality products are just a few of the markets the firm covers.

The company's products are widely utilised in carpet backing, paints, geo textiles, footwear, gloves, conveyor belts, hoses, automotive components, paper and paper boards, water-proofing and repair, cork sheets and gaskets and tyre cord dipping. In India, Apcotex offers acrylic latexes, nitrile latex, SBR latex, carboxylated SBR, VP latex, and synthetic rubber. Based on the chemistry of butadiene-acrylonitrile and styrene-butadiene, it offers one of the broadest selections of emulsion polymers. Apcotex was one of the top 10 Indian firms on Forbes Asia's Best Under A Billion 2022 list.

As per the data of Trendyne, Apcotex Industries is among the companies with zero promoter pledges, low of debt to equity ratio of 0.32, high-interest coverage ratio of 32.78, low price-to-earning ratio of 38.72, compared to sector PE ratio of 107.88.