Dividends Alert: Multibagger Smallcap Stock Fixes Record Date For Dividend Payout; Soars 100% In 6 Months

Power generating company, KPI Green Energy shares witnessed strong bulls on Wednesday after the company announced its plan to reward shareholders with dividends. Also, investors cheered on a new order win by the company, apart from upcoming Q2 results.

On BSE, KPI Green shares ended at Rs 880.20 apiece, up by 3.94% with a market cap of Rs 3,180.51 crore. In the trading hours, the stock zoomed by nearly 6% with an intraday high of Rs 895.10 apiece. The stock was now just a couple of rupees away from its 52-week high of Rs 953.80 apiece.

KPI Green is already a multi-bagger with its half-yearly gains of over 102.5% on BSE.

In its regulatory filing, KPI Green said, "A meeting of the Board of Directors of the Company is scheduled to be held on Monday, October 9, 2023, at the Registered Office of the Company, inter alia, to transact the following matters:

- to consider and approve Standalone and Consolidated unaudited financial results of the Company for the quarter and half year ended September 30, 2023.

- to consider the proposal for the declaration of a second Interim Dividend, if any, for the financial year 2023-24.

- any other matter with the permission of the Chairman."

The company fixed October 20 as the record date to determine its eligible shareholders for the second interim dividend.

In 2023, this would be KPI Green's third dividend announcement. Earlier, the company's shares turned ex-dividend for Rs 0.25 dividend per share in August 2023 and Rs 0.20 dividend per share in February 2023. As per the Trendlyne data, the company has declared seven dividends since November 2021.

On the current market price, KPI Green's dividend yield is at 0.07%.

Dividends are distributed also in a certain proportion by listed companies from their net profits earned in a respective financial year. The record date 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. Meanwhile, the ex-dividend date is the day when the price of the equity share of the listed company gets adjusted for the dividend payout.

In other news, as per the regulatory filing, KPI Green has also received a new order for executing a Wind-Solar Hybrid Power Project for 6.90 MW capacity comprising of 4.90 MW wind and 2 MW solar capacity from General Polytex Pvt. Ltd., Surat under 'Captive Power Producer (CPP)' Segment of the Company.

This project is scheduled to be completed in the financial year 2023-24, in various tranches as per the terms of the order

KPI Green Energy (formerly known as KPI Global Infrastructure Ltd.) has been serving its clients with the state of art renewable energy solutions for last over 15 years. Under the brand name of "Solarism" the company is on a sprint to achieve the humongous task of over 1000 MW in solar energy by 2025.