4:1 Bonus, Rs 20/Dividend: Highest Dividend Yield Penny Stock Below Rs 5, Hits 5% Upper Circuit, At New High

Iron and steel products maker, Taparia Tools' share price witnessed a huge rally on June 10 so much so that it touched a new 52-week high and froze at its 5% upper circuit. Generally, the upper circuit means that there were several buyers in the stock but no sellers. Taparia Tools is the highest dividend yield penny stock.

On BSE, Taparia Tools' share price locked at Rs 4.27 apiece, which is its 5% upper circuit and new 52-week high. The stock's market cap is about Rs 6.48 crore.

Currently, the stock is up by 103% from its 52-week low of Rs 2.10 apiece.

Taparia Tools will be in focus for its dividend payout. At the latest, the company has recommended a final dividend of Rs 20/- (200%) per Equity share of Rs.10/- each from the Distributable Profit for the Financial Year ended 31% March 2024. The record and payment dates for the same are yet to be announced.

For FY24, the stock earlier paid up to Rs 20 per share dividend. Together, with the upcoming dividend, Taparia Tools will pay up to Rs 40 dividend per share for the fiscal.

As per Trendlyne data, Taparia Tools has paid up to 21 dividends since March 2002. It has delivered hefty rewards to investors. In 2023 alone, the company delivered Rs 77.50 per share each as final and interim, totalling Rs 155 per share payout, the highest by the company.

Currently, the stock has a dividend yield of 831.38%, the highest in the penny stock and general market.

Taparia Tools Bonus Issue:

Recently, the company also rewarded investors with 4:1 bonus shares. The ex-date was on July 11, 2023. The ratio meant that the company distributed 4 bonus shares for free on every 1 existing share.

About Taparia Tools:

TAPARIA TOOLS started manufacturing hand tools in 1969 in India in technical collaboration with a reputed company in Sweden. Taparia Tools has been since then consistently producing all the hand tools in India with the exact technology of its collaborators.

The Company's manufacturing facilities include modern Forge shop, Machine shop, Heat treatment, Polishing, Nickel chrome plating and so on. The Company has a design and development department with the latest CAD design facilities where all the designs of products and modifications thereof and also fixtures and toolings are made. This includes the designs of forging - dies, machining fixtures, cutting tools like broaches, etc.