Dividend Stock: Mid Cap Chemical Stock Set To Go Ex-Dividend For 700% Dividend

Mid cap stock from chemicals sector, Vinati Organics Ltd is set to trade ex-dividend on September 1, 20223. The company on June 16, 2023 recommended payment of a final dividend of Rs 7/- (700%) per equity share of the face value Re 1/- each, for the financial year 2022-23. Last trading price of Vinati Organics share is Rs 1796.10 apiece with intraday rally of 0.16%. The stock witnessed a spur in volume on August 23 by 2.14 times. Check details below:

Vinati Organics To Go Ex-Dividend On September 1: According to the BSE filing of Vinati Organics dated June 16, 2023, "We wish to inform you that the Board of Directors of the Company at its meeting held on Friday, May 19, 2023, have recommended payment of a Final Dividend of % 7/- (700%) per equity share of the face value ¥ 1/- each, for the Financial Year 2022-23, subject to the approval of shareholders at the ensuing Annual General Meeting of the Company and shall be paid after deduction of tax at the applicable rates."

Vinati Organics Stock Performance & Return: Current market price of Vinati Organics share is Rs 1796.10 apiece on BSE. Its 52-week high price is Rs 2372.95 apiece and 52-week low price is Rs 1693.05 apiece, respectively. It has a market capitalisation of Rs 18,460.68 crore. Vinati Organics shares declined over 3% in last 2-weeks, declined 19% in last 1-year, gained 59% in last 3-years, and soared 170% in last 5-years.

Vinati Organics Financials: The company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 446.36 crore, down 14.23% as against its last quarter total income of Rs 520.39 crore. It declared its recent quarter net profit after tax at Rs 83.22 crore.

Vinati Organics About: It is a leading manufacturer of specialty chemical and organic intermediaries with a sustained market presence spanning over 35 countries in the world. Since its inception in 1989, it has evolved from being a single product manufacturer to an integrated business offering a wide range of products to industrial and chemical companies across US, Europe and Asia, according to its official website.

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