Multibagger Small Cap Stock Recommends 24% Dividend, Fixes Record Date, Jumps 1,353.71% in 3 Yrs

The Board of Directors of Ganesh Housing Corporation Ltd. on May 09, 2023, held a Board meeting, where the Board recommended Rs. 2.40/share of Rs. 10/share i.e. 24% dividend for the financial year 2022-23. The Board also fixed the record date for the recommended dividend as September 01, 2023.

24% Dividend

In an exchange filing, the Board of Directors of Ganesh Housing Corporation Ltd. said, "The Board has recommended a dividend of Rs. 2.40 per Equity Share of Rs. 10/- each (24%) to the shareholders of the Company for the financial year 2022 - 2023. The dividend recommended by the Board of Directors of the Company is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company scheduled to be held on Monday, September 11, 2023."

It added, "The dividend, if approved, by the shareholders at the AGM, will be paid, subject to deduction of tax at source, within 30 days from the date of declaration."

Record Date

"The Company has fixed Friday, September 01, 2023 as the "Record Date" for the purpose of determining the Members eligible to receive dividend for the financial year 2022-2023," the company said in an exchange filing.

Stock Outlook

The stock of Ganesh Housing Corporation last traded at Rs. 362.70/share on NSE, up 1.54% from its previous close of Rs. 359.30/share. It declined 1.59% in the past 1 week.

The stock jumped 26.66% in the past 1 year. It gave a multibagger return of 1,353.71% return in 3 years. In the past 5 years, it gave 221.97% positive return.

It recorded 52 week high at Rs. 407/share on 12 September 2022 and 52 week low at Rs. 229.50/share on 21 June 2022. It is trading 10.88% down from its 52 week high.

About - Ganesh Housing Corporation Ltd.

Ganesh Housing Corporation Ltd. is one of the leading real estate developers of Gujarat founded in 1965 by Late Shri Govindbhai C Patel. The company is engaged in the business of construction and real estate development in and around Ahmedabad. It is a Small Cap Real Estate company having a market capitalisation of Rs. 3,024.45 crore.

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