Rs 325/Share Dividend: SmallCap Stock Rises By Over Rs 2,100 In 5 Sessions, To Turn Ex-Dividend Soon

Smallcap stock, the Yamuna Syndicate share price will be in focus when markets open on Wednesday as the stock will turn ex-dividend later in the week. Yamuna Syndicate is into trading and distributions, dealing with some of the listed biggies as well. Also, the company delivered its Q1FY24 earnings where its net profit more than doubled, however, revenue dipped. The stock has given impressive performance since the start of 2023.

The company will pay a dividend of Rs 325 per share having a face value of Rs 100 each, as recommended by the Board of Directors for the financial year ended March 31, 2023 subject to the approval of the Members in the AGM. In percentage terms, the dividend payout is 325%.

This is higher compared to the previous fiscal FY22 where the dividend payout was 200%.

As per the regulatory filing, the Register of Members and Share Transfer Books of the Company shall remain closed from Friday, August 18, 2023, to Thursday, August 24, 2023 (both days inclusive) and Thursday, August 17, 2023, shall be taken as the Record date for determining entitlement of members for payment of dividend."

Hence, the record date is set on August 17 which is also the ex-dividend date. Those shareholders who will hold The Yamuna Syndicate shares in their Demat Accounts as of August 17 will be eligible for the dividend benefits.

The company has delivered its Q1 results for the financial year 2023-24.

During the June 2023 quarter, The Yamuna Syndicate reported a consolidated net profit of Rs 23.46 crore, more than doubling from Rs 8.84 crore in Q1FY23. Consolidated revenue from operations stood at Rs 21.36 crore in Q1FY24, however down from Rs 23.68 crore in the same quarter a year ago.

On Monday, The Yamuna Syndicate share price closed at Rs 17,822 apiece, down by 5% on BSE. Its market cap is nearly Rs 548 crore. The annual dividend yield at the current price level is 1.82% of the stock.

In the past five trading sessions, the stock has rallied by Rs 2,127 or 13.6%, while its monthly gains are over Rs 4,617 or 35%.

So far, the company's stock has seen impressive gains in the current year. Year-to-date, the stock has rallied by Rs 4,938 or 38.3% on BSE, while its six-monthly upside is a whopping Rs 5,242 or 41.7%. In 5 years, the stock has emerged as a multi-bagger by skyrocketing over Rs 11,769 or 194.4% on BSE to date.

Founded in 1955, the company is engaged in trading & marketing of a wide variety of products. It has a long experience in trading a wide range of products, components, and consumables related to the auto sector; agro-chemicals; as well as industrial and consumer electricals.

It also needs to be noted that since 2001, Yamuna Syndicate Ltd has been a major Franchisee of Amara Raja Batteries engaged in distribution of the reputed AMARON range of automotive batteries. Also, the company is backed by a strong associate company Isgec Heavy Engineering. In the past, the company has also been involved in the dealership business of Yamaha Motorcycles, passenger cars of Hindustan Motors, commercial vehicles of Ashok Leyland; as well as spares parts of Maruti Suzuki.