Multibagger Mid-Cap Stock To Pay Interim, Special Dividend In November: Record Date Fixed For November

Sundram Fasteners Ltd is all set to cheer its shareholders as the company has announced interim dividend and special dividend. The mid-cap company has fixed record date as November 18, 2022. The company has a market capitalisation of Rs 20,036 crore as of writing the report. Check key takeaways below:

1. Sundram Fasteners To Pay Interim Dividend, Special Dividend

The board of directors of the mid-cap company stated in the regulatory filing, "Further to our letter dated November 3, 2022 under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations), we wish to inform you that the Board of Directors at their meeting held today (Tuesday, November 8, 2022) has approved payment of Interim Dividend @ Rs. 3.57 per share of Re 1/- each for the financial year ending March 31, 2023 and a Special Dividend @ Rs. 2.00 per share of Re. 1/- each to commemorate the 60thyear of Incorporation of the Company."

The record date is November 18, 2022.

2. Sundram Fasteners Stock Outlook

The current market price of the stock is Rs 953 apiece with 52-week high at Rs 1009 apiece and 52-week low at Rs 674 apiece, respectively.

3. Sundram Fasteners Return

The stock has given multibagger returns to shareholders with 5-years return at 97%, 3-years return at 102%, and 1-year return at 11%. The stock has jumped 15% in just 3 months period.

4. About Sundram Fasteners

Sundram Fasteners (SFL) came into existence in 1962. It is a part of the $5 billion TVS Group, headquartered in Chennai, India. It has built a track record of leadership over 40 years.

It operates in Auto Ancillaries sector. With a diversified product line, world-class facilities in four countries and a motivated team of talented people, Sundram Fasteners has become a supplier of choice to leading customers in the automotive and industrial segments worldwide.

Disclaimer

The stock gives details pertaining to special dividend and interim dividend. 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 taking any investment decision.