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Small-Cap Textile Stock To Pay 250% Final, 100% Special Dividend Soon: Details Here
Small-cap company Gloster Ltd is engaged in manufacturing and exporting of all types of jute & jute allied products, woven & non-woven jute geotextiles, treated fabric-rot proof, fire retardant, jute products for interior decoration and packaging of industrial and agricultural produce. The company has a market capitalization of Rs 541 crore.
Now the company has decided to pay its shareholder 250% final dividend and 100% special dividend. Check details below:
Gloster Ltd To Pay 250% final dividend and 100% special dividend
The board of directors of the company has in its BSE filing said, "To declare dividend on Equity Shares for the financial year 2021-2022. The Board recommends a dividend of 250% i.e. 25/- per equity share and Special Dividend "marking 100 years of Incorporation of the Company" of 100% i.e. 10/- per equity share for the financial year ended 31st March, 2022, making a total dividend of 350% i.e. 35/- per equity share of face value of 10/- each." The Record date fixed for the purpose of determining entitlement of the members to Dividend is 1st August, 2022, said Gloster.
The company is all set to appoint a Director in place of Smt. Pushpa Devi Bangur who retires by rotation and being eligible, offers herself for re-appointment.
2. Stock Outlook
The current market price of the stock is Rs 990.10 with a 52-week high of Rs 1367 apiece and 52-week low of Rs 466 apiece. The PE of the stock is 8.30 which is lesser than sector PE of 32.68. The EPS of the stock is 119.31. The stock offers a dividend yield of 3.53.
3. About Gloster Ltd
Gloster Limited (Formerly, Kettlewell Bullen& Company Limited) was converted and incorporated as a limited company under the provisions of the Companies Act 1913. In 1879, it was appointed as the managing agent of Fort Gloster Jute Manufacturing Company Limited which became Fort Gloster Industries Limited subsequently. In 1992, the jute division of Fort Gloster Industries Limited was demerged into a separate company called Gloster Jute Mills Limited which was renamed as Gloster Limited (erstwhile). As required by statute, being the holding Company, in the year 1998, the Company was registered as a non-banking financial company (non-deposit accepting) with the Reserve Bank of India.
