50% Dividend: Small Cap Stock Approves 1st Interim Dividend, Fixes Record Date On Sept 01

Textile sector small cap company Pearl Global Industries Ltd. in its meeting held on Monday, Aug 21, approved the first interim dividend of 5 per equity share i.e. 50% on the face value of Rs 10 each for the financial year 2023-24.

The board also fixed the record date for the said dividend as Friday, September 01, 2023. The dividend will be paid within 30 days from the declaration. The company has a market cap of Rs 1,536.30 Crore.

"We would like to inform that the Board of Directors of the Company at its Meeting held today, August 21, 2023, have inter-alia, considered, and approved first interim dividend of Rs.5/-per equity share i.e. 50% on face value of Rs. 10/-each for the financial year 2023-24. Such interim Dividend will be paid within 30 days from the date of declaration to those Members entitled thereto," the Board said in an exchange filing.

It added, "Record Date is fixed on Friday, September 01, 2023, for the purpose of determining entitlement of the Members for such Interim Dividend."

On Friday, the shares closed at Rs 709.15 apiece on the BSE with highs and lows of Rs 729.55 and Rs 702.60, respectively. Its 52-week high is Rs 787.25 apiece and 52-week low is Rs 334.35 apiece.

The stock declined 0.57% in the last 1 week. It jumped 15.10% in the last 1 month and 66.84% in the last 6 months, respectively.

The stock has given 24.28% in the last 1 year. In 2 and 3 years, it has given 122.44% and 383.57% positive returns, respectively. It gave 357.81% positive return in the last 5 years.

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