Small Cap Stock Recommends Rs 3/Share Dividend, Rallies 3.32%, Trading 4.80% Down 52 Week High

Engineering sector Co. Axtel Industries Ltd. on May 29, 023, in a Board meeting recommended a final dividend of Rs. 3/share i.e. 30% per equity share of Rs. 10 for the financial year ended 31st March 2023.

Axtel Industries is a small-cap company engaged in the business of Manufacturing food processing plant & machinery. It has a market valuation of Rs. 497.81 crore.

30% Dividend

According to the regulatory filing by the Board of Directors of Axtel Industries Ltd., "the Board of Directors of our Company has recommended final dividend @ Rs. 3.00 (Rupee Three only) i.e., 30% per equity share of Rs.10 for the financial year ended 31st March, 2023, at the meeting of the Board of Directors held on 29th May, 2023."

Furthermore, "We will intimate the record date/ date of book closure for the purpose of annual general meeting and determining entitlement of the shareholders for the dividend in due course as required under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015."

Stock Overview

On Tuesday, the stock of Axtel Industries last traded at Rs. 311.30/share, up 3.32% from its previous close. Its 52 week high is Rs. 327/share and 52 week low is Rs. 197.50/share, respectively.

The stock jumped 1.83% in the past 1 week and 11.72% in the past 1 month. It gave 25.17% positive return in 1 year, 187.04% in 3 years, and 338.45% in 5 years, respectively.

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