Midcap NBFC Stock With 1470.92% Return In 3 Yrs Recommends 100% Dividend; Check Details

Poonawalla Fincorp Ltd. (formerly known as Magma Fincorp Limited) held a Board meeting on Wednesday, April 26, 2023, where it recommended a dividend of Rs 2 per share i.e. 100% for Financial Year 2022-23. The recommended dividend is subject to shareholders' approval, according to an exchange filing.

Poonawalla Fincorp is a Cyrus Poonawalla group Non-Banking Finance Company (NBFC) that focuses on consumer and MSME financing. It is a midcap stock with a market capitalisation of Rs. 23,645.11 crore.

Board Recommended Dividend

"The Board has recommended dividend at the rate of Rs. 2 per share (100%) of face value of Rs. 2 each on equity shares for the financial year ended March 31, 2023. The dividend payout is subject to the Members' approval at the forthcoming 43rd Annual General Meeting ("AGM") of the Company," Poonawalla Fincorp said in an exchange filing.

Stock's Market Price, Returns & 52-Week High/Low

On Wednesday, the stock last traded at Rs 307.90 apiece, down 2.70 apiece from its previous close of Rs 316.45 apiece. It hit the 52-week high on 11 October 2022 at Rs 338 apiece and 52 wee low on 20 June 2022 at Rs 209.15 apiece.

The stock has fallen 1.03% in 1 week. It surged 10.32% in 1 month and 2.98% in 3 months, respectively. It declined 5.23% in 1 year. It has given a robust positive return of 1470.92% in 3 years. In 5 years it has given 77.57% 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.