Financial year 2021-22 has concluded and companies' board post the end of the Fy recommend the same i.e. final dividend and it is approved by the company's shareholders at its AGM. Likewise, this company from the Industrial (Textile) machinery space-Stovec Industries announced a final dividend to the tune of 570% or Rs. 57 per share. The announcement to this effect was made on February 25, 2022.
About Stovec Industries
This is a company with an m-cap of Rs. 572 crore and carries out the development & production of consumables for their use in textile & graphic printing industry. It's products & services include perforated rotary screens & automatic rotary screen printing machine.
Details of the dividend as announced by the company:
The company has announced a 570% final dividend or Rs. 57 for which the stock shall turn ex-dividend or adjust in stock price based on the dividend declared on April 28, 2022 while its record date is April 30, 2022.
Remember record date is the date based on which the company decides on shareholders' eligibility to receive the declared dividend i.e. those having positions in the scrip as on the record date i.e. having holding in the scrip in their respective demat account as on the record date shall be entitled to receive the same.
Stovec Industries Financials:
The company's financials have been improving with both revenue from operations and net profit increasing YoY. The former for the December ended quarter has been at Rs. 57.23 crore, while net profit also went higher to Rs. 5.92 crore.
The stock is discussed solely for its final dividend pay out and is not a recommendation to buy in the share due to the dividend.