Metal Sector Midcap Stock With 934.86% Return In 3 Yrs Recommends Rs 4/Share Dividend

Godawari Power & Ispat Ltd. in a Board meeting held on May 20, 2023, recommends Rs. 4/share Final Dividend for the financial year ended 31st March 2023. The Board also fixed the record date for the dividend as 20th September 2023.

The recommended dividend is subject to approval of the shareholders of the company in the ensuing Annual General Meeting (AGM).

It is a midcap metal sector company. It has a market valuation of Rs. 5,145.52 crore.

Dividend

In an exchange filing, the Board of Directors of Godawari Power & Ispat Ltd. said, "We hereby give notice that the Company has fixed Saturday, the 19th August, 2023 as the Record Date in terms of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the purpose of payment of final dividend of Rs.4.00/- per share subject to the approval of shareholders in the ensuing Annual General Meeting (AGM) for the Financial Year 2022-2023."

Record Date

The Board fixes the record date for the recommended dividend. In the regulatory filing, the Board said, "The final dividend will be paid on or after 20th September, 2023 to those members, whose names appear on the Register of Members of the Company and as beneficial owners in the Depositories, determined as on the Record Date (i.e. Saturday, the 19th August, 2023)."

Stock Outlook - Current Market Price & Returns

The stock of Godawari Power & Ispat last traded on NSE at Rs. 378.50/share, 1.43% above the previous close of Rs. 373.15/share. It recorded the 52 week high on 16 January 2023 at Rs. 415.40/share and 52-week low on 20 June 2022 at Rs. 223/share, respectively.

The stock jumped 3.06% in 1 week, and 2.01% in 1 month, respectively. It has given 36.67% positive return in 1 year. In the past 3 years, it has given 934.86% multibagger returns. In 5 years, it has given 269.27% positive return.

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