Auto Ancillary Stock, Paying 1000% Dividend, To Trade Ex-Dividend, Hits New 52-Week High

Banco Products (India) Ltd is a supplier of high-quality engine cooling components and engine sealing gaskets to the automotive industry for over four decades. The company offers a complete line of radiators intercoolers oil-coolers and all types of engine gaskets.

The company's board of director had announced an equity dividend of 1000% on May 26, 2022 and now it will soon turn ex-dividend. The stock has also hit its fresh 52-week high today. Check key takeaways below:

Banco Products (India) Ltd To Pay 1000% Dividend

The board of directors of the company said in their regulatory filing, "The Board of Directors has decided to recommend dividend of20.00/-(1000%) per Equ ity Share of t 2.00 each, subject to approval by the shareholders in ensuing Annual General Meeting for the financial year ended on 31.03.2022."

The stock will trade ex-dividend on September 6, 2022.

Banco Products (India) Ltd Stock Outlook

The current market price of the stock is Rs 258 apiece with gain of 1.25% intraday.

Banco Products (India) Ltd Stock Hits New 52-Week High

The stock hit its fresh 52-week high today. It opened at Rs 260 apiece, touched the day's high of 268 apiece and day's low at Rs 256 apiece.

Banco Products (India) Ltd 52 Week High/Low

The stock's 52-week high is Rs 268 apiece and 52-week low is Rs 118 apiece.

Banco Products (India) Ltd Return In Last 5 Years

Stock has gained 39% in 1 month, 104% in 3 months, 31% in 1 year, 167% in 3 years, and 25% in 5 years.

Banco Products (India) Ltd Market Capitalization

The stock has a market capitalization of Rs 1,849.47 crore.

Banco Products (India) Dividend History

The company declared its first dividend in July 2001 and maintained a good track record of dividends over the years. It has declared 29 dividends in 21 years. Out of all the 29 declared dividends, 8 were Interim dividends and 21 were final dividends including the recent one. Last year, the company also declared a final dividend of 100% amounting to Rs 2 per share.

Banco Products (India) Ltd About

Banco Products (India) Ltd was incorporated in 1961. The company is a supplier of high-quality engine cooling components and engine sealing gaskets to the automotive industry for over four decades. The company has four modern manufacturing plants based at Baroda (Vadodara) Mumbai with state-of-the-art facilities for Production Design & Development and Quality Assurance. The company is an original equipment supplier to Indian automobile majors including Telco Ashok Leyland Mahindra & Mahindra Premier Auto Hindustan Motors and Maruti Udyog.