Rs 33/Share Dividend: Small Cap PSU Stock Set To Pay 330% Dividend In Sept

Small cap public sector undertaking under control of Ministry of Petroleum, Balmer Lawrie Investments Ltd is all set to pay a dividend of Rs 33/- per equity share with the ex-dividend date fixed as September 20, 2023. Last trading price of the stock is Rs 437.55 per share with intraday gain of 0.60% on BSE. Balmer Lawrie Investments shares witnessed a jump of 18% year-to-date. Check details below:

Balmer Lawrie Investments Recommended Dividend: The board of directors of the company on May 30, 2023 recommended Rs 33/share dividend and stated in the BSE filing, "Further to our intimation dated lOth May, 2023 read with intimation dated 23rd May, 2023 and pursuant to Regulation 30(2) and 30(6) read with Schedule III of the Listing Regulations, this is to hereby inform that the Board of Directors at its Meeting dated 30th May, 2023 has recommended a Dividend of Rs. 33/- (Rupees thirty three only) per Equity Share on 2,21,97,269 Equity Shares of the Company for the Financial Year ended 31 st March, 2023."

The company on August 8, 2023 fixed September 20, 2023 as ex-dividend date. It specified in its exchange filing, "Upon declaration by the Members, dividend for the Financial Year 2022-23 shall be paid within 30 days from the date of the 22nd AGM to those Members, who are holding shares of the Company as on the cut-off date, Wednesday, 20th September, 2023 (end of day)."

If the current share price of Rs 437.55 is taken into consideration, it offers a dividend yield of 6.85%, according to Trendlyne. The company has declared 22 dividends since September 19, 2003.

Balmer Lawrie Investments Stock Performance & Return: Current market price of Balmer Lawrie Investments share is Rs 437.55 apiece. Its 52-week high price is Rs 439.95 apiece and 52-week low price is Rs 351.25 apiece, respectively. It has a market capitalisation of Rs 971.24 crore. Balmer Lawrie Investments shares offered shareholders return of 14% in last 3-months, gained 22% in last 6-months, surged 10% in last 1-year, and declined 7% in last 2-years.

Balmer Lawrie Investments Recent Financial Performance: The company for the quarter ended June 30, 2023 declared its consolidated total income at Rs 604.57 crore, down 3.68% as compared to the last quarter total income of Rs 627.64 crore. It announced its recent quarter net profit after tax at Rs 43.15 crore.

Balmer Lawrie About: Balmer Lawrie Investments Limited, is presently under the administrative control of the Ministry of Petroleum & Natural Gas, Government of India. The total strength of its Board is 3 (Three), all the Directors are Non-Executive Directors, out of which two are Government Nominee Directors and one is an Ex-officio - Non- Executive Director, according to its official website. It was incorporated on 20 September 2001 under the Companies Act, 1956, in which the President of India holds 59.67% of its total paid up equity capital.

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