4600% Returns In 3 Years: This Multibagger Penny Stock Changes Record Date For Dividend Payout; Details

Standard Capital Markets, a penny stock trading under Rs 2 has declared a dividend payout for its shareholders. The decision was made during a recent board meeting where the approval for the dividend distribution was granted.

In a regulatory filing dated May 2, Standard Capital Markets disclosed that there's been a modification in the dividend record date. This alteration impacts the eligibility of shareholders to partake in the upcoming dividend distribution.

For those unfamiliar, dividends are essentially rewards handed out by companies to their shareholders as a token of appreciation for their investments. These dividends are typically distributed in cash, derived from the company's profits, and are directly deposited into the bank accounts of eligible shareholders.

Standard Capital Markets, with a face value of Re 1 per stock, had previously announced a dividend of 1% per share, which translates to a payout of 1 paisa per share. This declaration was made in a regulatory filing earlier.

However, there's a slight change in the timeline. The record date, determining which shareholders are eligible for the dividend, has been shifted to May 13, as per the recent filing. This adjustment moves the eligibility date from its previously scheduled May 10.

This isn't the first time Standard Capital Markets has made headlines. Last December, the company underwent a significant change in its equity structure. It split the face value of its equities from Rs 10 to Re 1 and also issued bonus shares in a 2:1 ratio.

Despite its status as a microcap stock, Standard Capital Markets has shown impressive growth, boasting a market capitalization of Rs 276.36 crore. In fact, over the last two years, it has delivered a staggering multibagger return of 2,250% and a 4,600% return over three years.

It's important to note that Standard Capital Markets is registered with the Reserve Bank of India as an NBFC (Non-Banking Financial Company), adding another layer of regulatory oversight to its operations.