350% Dividend! Small Cap Textile Stock Turning Ex-Dividend On Sept 22; Know More

Small Cap Textile company Ambika Cotton Mills Ltd. is set to trade ex-dividend this week for 350% dividend payout. The Board of Directors of the company in a regulatory filing on Aug 28, 2023, fixed the record date as Friday, Sept 22, 2023.

On May 26, 2023, the board recommended a Final Dividend of Rs 35/- (350%) per equity share on the face value of Rs 10/- each.

According to the regulatory filing by the Board of Directors of Ambika Cotton Mills Ltd., "the Register of Members & Share Transfer Books of the Company will remain closed from Saturday 23rd September 2023 to Friday 29th September 2023 (both days inclusive) for the purpose of 35th Annual General Meeting (AGM) of the Company to be held on Friday, 29th September, 2023 and for final dividend of Rs.35/- per equity share (face value of Rs.10 each) recommended by the Board of Directors subject to approval of shareholders."

Moreover, "The dividend will be paid to those members whose name appears in the Register of members as on Friday 22nd September, 2023."

The share of Ambika Cotton Mills on Monday closed 2.28% lower at Rs 1,616.95 apiece on the BSE. The stock declined 5.18% in the past 1 week. It declined 9.11% in the past 1 year. The stock gained 132.34% in the past 3 years, and 28.19% in the past 5 years, respectively.

The stock recorded its 52-week high on Sept 21, 2023, at Rs 1,835.50 apiece and 52-week low on Mar 28, 2023, at Rs 1,310.50 apiece on the BSE. The Market valuation of the stock is Rs 925.70 Crore.

Ambika Cotton Mills Limited (ACML) based out of Coimbatore in Southern India, is engaged in the manufacture of premium quality Compact and Elitwist cotton yarn for hosiery and weaving. We are an established player in the international and domestic yarn market with exports constituting roughly sixty percent of its revenues.

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