This Midcap Chemicals Co. Recommends 500% Dividend, Stock Soars Over 250% In 3 Yrs; Check Details

The Board of Directors of Gujarat State Fertilizers & Chemicals Ltd. (GSFC) in a meeting held on Thursday, May 25, 2023, recommended a Dividend of Rs. 10/share i.e. 500% of Rs. 2 each fully paid up for the financial year 2022-23. This recommended dividend is subject to approval by the shareholders of the company at the forthcoming AGM.

GSFC is a Chemicals sector midcap company engaged in the manufacturing of various fertilizers and industrial products like plastics & synthetic rubbers and man-made fibres. It has a market capitalisation of Rs. 6,387.59 crore.

500% Dividend

According to the company's regulatory filing, "The Board of Directors of the Company at its meeting held on 25th May, 2023, inter alia, has recommended a Dividend of Rs. 10 per Equity Shares of Rs.2/- each fully paid-up (i.e. 500%) for the year ended 31st March, 2023, subject to approval of shareholders at ensuing Annual General Meeting. Upon approval of shareholders, the dividend declared will be paid within 30 days of declaration. The date of Annual General Meeting, Book Closure Date and Dividend Payment Date will be intimated in due course."

Stock Outlook

On Friday, the stock of GSFC closed 0.91% higher at Rs. 160.30/share. It surged 0.82% in 1 week. In 1 year, it declined 4.64%. It gave a robust return of 262.26% in the past 3 years. In 5 years, it gave 39.94% positive return.

The stock traded its 52 week high on 18 May 2023 at Rs. 183.40/share and 52 week low on 20 June 2022 at Rs. 114.65/share, respectively.

Disclaimer - The above-mentioned information is purely informational. The article should be treated as informational and not an advisory to invest. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.