Stock To Watch: Small Cap Stock Announces 60% Dividend, Fixes Record Date

Dividend is a reward that is offered by a company to its shareholders. The board of a company can decide to offer dividends after making a significant profit in a quarter or a fiscal year. SMC Global Securities Ltd. on November 6, announced giving an interim dividend of 60%. The record date has been fixed to be on November 15. On NSE, its share price closed at Rs. 84.90/share, till last traded. The stock is expected to stay bullish tomorrow after announcing the dividend.

The company has informed the stock exchanges that the board has "Approved the Un-audited financial results of the Company, both standalone as well as consolidated along with the limited review report for the quarter and half year ended on 30% September, 2022. Approved the Statement of Assets and Liabilities and Cash Flow Statements for the half year ended on 30 September, 2022. Approved declaration of Interim Dividend t 60% i.e. Rs. 1.20 per equity share of Rs. 2/- each for the FY 2022-23. Record date for the purpose of payment of the interim dividend dated 15 November, 2022 has been taken on record."

Stock performance

In the last 1 month its share price gained by 7.26%, the past 6 months its share price gained by 1.80%, and in the last 1 year its share price has gained by 8.29%. The 52-week high level of this stock is Rs. 95.40, and the 52-week low level of this stock is Rs. 69.80. This small-cap company has a market capitalization of Rs. 888 crore.

Commenting on its financial report on its subsidiary, the company reported, "One subsidiary whose financial statements reflect the total assets of Rs. 9,265.78 lakhs as of September 30, 2022, total revenue of Rs. 8,346.00 lakhs and Rs. 15,727.95 lakhs, net profit after tax of Rs. 161.48 lakhs and Rs. 274.77 lakhs and total comprehensive income Rs. 169.13 lakhs and Rs. 290.07 lakhs for the quarter ended September 30, 2022 and for the Period April 01, 2022 to September 30, 2022 respectively, as considered in the statement which has been reviewed by us."

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