Kirloskar Group's Small Cap Stock Recommends Final Dividend Of 150%, Stock Falls 7.55%

Kirloskar Pneumatic Company Ltd. (KPCL) on Thursday, April 27, 2023, held a Board meeting where it recommended a final dividend of 150% i.e. Rs. 3/- per equity share for the Financial year 2022-23. The recommended final dividend is subject to the approval of members at the ensuing Annual General Meeting (AGM).

Founded in 1958, KPCL is one of the core Kirloskar group companies. The company has a range of product that includes Air Compressors, Air Conditioning and Refrigeration Systems, Process Gas Systems, Vapour Absorption Systems and Industrial Gear Boxes. KPCL serves a variety of sectors like Oil, Gas, Steel, Cement, Food and Beverage, Railways, Defence and Marine.

The Board of Directors Recommended a Final Dividend of 150%

According to an exchange filing by the company, "The Board of Directors at its Meeting held on April 27, 2023 have recommended a final dividend of 150% (Rs. 3/- per equity share) for the Financial Year 2022-23, subject to approval of members at the ensuing Annual General Meeting, which will be held on Thursday, July 20, 2023 and shall be paid through National Electronic Clearing System (NECS) or vide dividend warrants, as the case may be. The Dividend, if approved by the Shareholders shall be paid on or after July 20, 2023."

Stock Overview

The stock is currently trading at Rs 563..25 apiece, down 7.99% from its previous close. It touched its 52-week low on May 26, 2022, at Rs 376.25 apiece and 52-week high on November 21, 2022, at Rs 645 apiece, respectively.
It declined 2.88% in 1 week and gains 2.84% in 1 month. It has given 37.54% in 1 year. It has given 435.92% positive return in 3 years. In 5 years it has given 161.19% positive return.

Disclaimer - The above-mentioned information is purely informational. The article should be treated as informational and not an advisory to invest. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.