1250% Dividend! Small Cap Stock Set To Trade Ex-Dividend On Aug 25, Scrip Up 25.69% In 1 Month

Gulf Oil Lubricants India Limited, a Lubricants company, is set to trade ex-dividend on Aug 25, 2023, for 1250% payout. The Board of Directors of Gulf Oil Lubricants India at their Meeting held on May 18, 2023, recommended payment of a dividend of Rs 25 per equity share on face value of Rs 2 each for the Financial Year ended Mar 31, 2023.

The recommended dividend is subject to approval of Members in the ensuing 15th Annual General Meeting (AGM) that is to be held on Sept 1, 2023.

Record Date & Dividend

"Record date as Friday, August 25, 2023 for the purpose of determining the entitlement of Members to dividend payment," the Board said in a filing to stock exchanges.

It added, "The dividend on equity shares for the financial year ended March 31, 2023, as recommended by the Board of Directors on May 18, 2023 and if approved and declared at the ensuing 15th AGM, will be paid/dispatched by the Company in permitted modes on or after Wednesday, September 6, 2023 within the stipulated timelines to those Shareholders or their mandates."

Dividend -In an exchange filing on May 18, the Board said, "the Board of Directors of Gulf Oil Lubricants India Limited (the Company) at their meeting held today viz. Thursday, May 18, 2023 which commenced at 02.30 p.m. and concluded at 5.50 p.m. has recommended the Dividend of Rs. 25/- per equity share of the face value of Rs. 2/- each (1250%) for the financial year ended 31 March 2023."

Stock Outllok

The scrip on Monday last traded at Rs 618.20 per share on BSE, up 0.43% from its previous close. It hit highs and lows at Rs 624.80 and Rs 615, respectively.

Stock surged 2.92% in the last 1 week. In 1 month, it jumped 25.69%. In 1 year, it jumped 34.67%, while in 3 years, it declined 9.09%, and 28.34% in 5 years, respectively.

It traded its 52-week high on Aug 17, 2023, at Rs 624.95 per share and 52-week low on Apr 03, 2023, at Rs 390 per share.

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