Rs 3/Share Dividend: Small Cap Stock Sets Record Date For 150% Payout

Small-cap firm Somany Ceramics operates in the consumer discretionary industry. The company is a top producer of sanitaryware, bathware, floor tiles, wall tiles, and ceramic tiles. The company has declared a final dividend of 150% for FY23 and for the purpose of the same record date has been finalized which is briefly covered below.

Somany Ceramics Dividend

The Board of Directors of the company have recommended a final dividend @ 150 % i.e. Rs. 3/- per Share of Rs. 2/- each for the financial year ended 31st March 2023, subject to the approval of the Members at the ensuing 55th Annual General Meeting of the company.

"The Company has fixed Friday, 18th day of August, 2023 as the 'Record Date' for determining entitlement of members to dividend for the financial year ended 31st March, 2023, if approved at the 55th Annual General Meeting. The Register of Member and Share Transfer Books of the Company will remain close from Saturday, 19th August 2023 to Friday, 25th August 2023 (both days inclusive).The dividend, as recommended by the Board, if approved at the Annual General Meeting will be credited/dispatched within 30 days from the date of Annual General Meeting, subject to deduction of tax at source to: (i) whose names appear as Beneficial Owners in the list of Beneficial Owners as on 18th day of August, 2023 as furnished by National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) for this purpose; and (ii) whose names appears as Members in the Register of Members of the Company after giving effect to valid transmission or transposition requests lodged with the Company or its Registrar and Share Transfer Agent(RTA") viz. M/s Maheshwari Datamatics Private Limited on or before 18th day of August, 2023," said Somany Ceramics in a stock exchange filing.

Somany Ceramics Financials

During Q4FY23 the company reported a net income of Rs 682.77 Cr up by 10.44% YoY from Rs 618.24 Cr reported in the same quarter of FY22. Its net profit stood at Rs 24.32 Cr during the quarter ended March 31, 2023 up by 41.64% YoY from Rs 17.17 Cr reported in the quarter ended March 31, 2022. The company is yet to declare its Q1FY24 results. 281st meeting of the Board of Directors of the Company will be held on Thursday, the 10th August, 2023, to inter‐alia, consider and approve the un‐audited financial results for the quarter ended 30th August, 2023, according to Somany Ceramics .

Somany Ceramics Share Price

On Friday, the shares of Somany Ceramics opened on the BSE at Rs 741.55 apiece and while writing the copy the scrip was trading at Rs 746.10 with an upside gap of 1.41% over the previous close of Rs 735.75. The stock made a 52-week-high of Rs 818.00 on (12/07/2023) and a 52-week-low of Rs 445.40 on (23/12/2022). During Q1FY24, the company recorded promoter shareholding of 54.79%, FIIs stake of 1.57%, DIIs stake of 21.92% and public stake of 21.72%.