After 150% Dividends In FY23, Smallcap Textile Firm To Declare Interim Dividend Soon, Sets Record Date

Fabric manufacturer, Premco Global will be in the focus as the smallcap company plans to declare interim dividends for its shareholders alongside its Q2 numbers in the first week of November. The company has fixed the record date for the dividend benefits. Premco has a high dividend yield.

As per the regulatory filing, the meeting of the Board of Directors of the Company is scheduled to be held on Monday, 06th November 2023 inter-alia :

- Consider and approve the Un-audited Financial Results (Standalone and consolidated) along with the statement of Assets and Liabilities and Cash Flow Statement, for the half year and second quarter ended 30th September, 2023.

- Consider the declaration of the 2nd Interim Dividend to the equity shareholders for the Financial Year 2023-2024.

Also, Premco Global said that the 2nd Interim Dividend, if declared, shall be paid to the equity shareholders of the company whose names appear on the register of Members of the company or in the records of the depositories as beneficial owners of the shares as on Thursday, November 23rd, 2023 which is the Record date fixed for the purpose.

In the previous financial year 2022-23, Premco Global paid a total dividend of Rs 150 per share amounting to Rs 15 per share. As per Trendlyne data, the company has declared a whopping 28 dividends since September 2002.

At the current market price, the company has a dividend yield of 4.14%.

On BSE, the smallcap stock stood at Rs 386.65 apiece, down by Rs 11.35 or 2.85% on Thursday. Its market cap is nearly Rs 128 crore. Year-to-date, the stock has rallied nearly 13% on the exchange. Its all-time gain is a whopping 7,793% since July 2002 to date.

Generally, dividends are distributed also in a certain proportion by listed companies from their net profits earned in a respective financial year.

However, there are key important dates to avail the benefits of dividends. These are -- the record date which is proposed by the listed company's board of directors to determine the name of the eligible shareholders for dividends. As per BSE FAQs, to be eligible to receive dividends, investors have to have shares in the Demat account by record date. Secondly, the ex-dividend date is the day when the price of the equity share of the listed company gets adjusted for the dividend payout. Thirdly, payment date, every dividend-paying company will fix a payment date and that is the timeline they ensure that dividends are credited to shareholders' demat accounts.

Premco is a manufacturer of woven and knit elastic and non-elastic narrow fabric, tape and webbing for use across many industries. The company is the preferred supplier to the biggest names globally because of consistent quality, competitive pricing, excellent service and prompt delivery.

Over the years, the company has produced over 11,000 samples for customers.