CK Birla Group Stock Fixes Record Date For 250% Dividend: Do You Own?

HIL Limited is a small cap CK Birla Group company that recorded a market cap of Rs 2,376 Cr during Friday's closing session. The company is a leading manufacturer and seller of fibre cement roofing. The Board of Directors of the company have recommended a final dividend of Rs. 25/- (i.e. 250%) per equity share of Rs. 10/- each for the financial year ended March 31, 2023, subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) of the company, and in order to determine the eligibility of the shareholders for the purpose of same, the record date has been announced.

The Board of Directors have "Recommended a final dividend of Rs. 25/- (i.e. 250%) per equity share of Rs. 10/- each for the financial year ended March 31, 2023, subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) of the company. The said final dividend if approved by the shareholders, shall be paid/dispatched to the shareholders within 30 days from the date of declaration. Further, the Company had declared an interim dividend of Rs. 20/- (i.e. 200%) per equity share of Rs. 10/- each, during the previous quarter of the financial year 2022-23, totalling the dividend amount to Rs. 45/- (i.e. 450%) per equity share of Rs. 10/- each for the financial year 2022-23," said HIL in a stock exchange filing.

While announcing the record date the company informed stock exchanges that "pursuant to Regulation 42 of SEBI LODR Regulations, the Register of Members and Share Transfer Books of the Company will remain closed as detailed hereunder and dividend if approved by the members at ensuing AGM, will be paid on or before August 29, 2023 to those members whose name appears in register of members as on record date Friday, July 21, 2023."

The 76th Annual General Meeting (AGM) of the shareholders of the company is scheduled to be held on Monday, July 31, 2023, said HIL.

HIL has announced an equity dividend of 450.00% at a face value of Rs 10, or Rs 45 per share, for the fiscal year ended March 2023. This generates a dividend yield of 1.43% at the current share price of Rs 3154.20. The company has a solid track record of dividend declarations during the past five years. Since September 11, 2002, HIL Ltd. has issued 34 dividends, according to Trendlyne statistics. HIL Ltd. announced an equity dividend worth Rs 65 per share over the previous 12 months. This generates a dividend yield at the current share price of Rs 3152.75 of 2.06%.

The firm recorded a consolidated net income for Q4FY23 of Rs 867 Cr, a 9% YoY drop from Rs 952 Cr in Q4FY22. Net expenses for the firm were Rs 826 Cr, a 4% YoY decrease from Rs 856 Cr in the corresponding period last year. HIL's net profit for the quarter ended in March 2023 was Rs 5 crore as opposed to Rs 51 crore for the quarter ended in March 2022, a 91% year-on-year fall. The company's EBITDA for Q4FY23 was Rs 41 Cr, a 57% YoY decrease from Rs 96 Cr in the comparable quarter of FY22.

On Friday, the shares of HIL closed on the BSE at Rs 3154.20 apiece up by 1.51% from the previous close of Rs 3107.20. The stock touched a 52-week-high of Rs 3,947.20 on (01/08/2022) and a 52-week-low of Rs 2,202.10 on (16/03/2023). During Q4FY23, HIL recorded promoters shareholding of 40.58%, FIIs stake of 2.80%, DIIs stake of 3.38%, Govt stake of 4.05% and public stake of 49.17%.