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Dividend is a significant consideration that investors can not afford to overlook. Companies make use of dividends to share their annual profits directly with the shareholders.
Dividend is a significant consideration that investors can not afford to overlook. Companies make use of dividends to share their annual profits directly with the shareholders. It is either paid in the form of cash or issuing additional stocks to the investors. We often look for companies that has a attractive dividend track record and consistently declare dividends.
One such company is Ratnamani Metals & Tubes Ltd with great track record in terms of dividend. The company has announced the final dividend. Let us find in detail below about all key aspects:
1. Ratnamani Metals & Tubes Ltd declares final dividend of 700%:
The board of directors in its filing as on May 18, 2022 said, "The Board has recommended a Dividend of Rs.14.00 per Equity Share (i.e. @ 700%) on 4,67,28,000 Equity Shares of Rs.2.00 each (pre-bonus) to the members, which translates into dividend of Rs.9.33 per equity share, having face value of Rs.2/- each (post-bonus), for the financial year ended on March 31, 2022, subject to the approval of the Members at the ensuing 38th Annual General Meeting of the Company. The dividend, if approved by the members at the ensuing AGM, would be paid to the members subject to deduction of tax at source, on or before September 8, 2022."
Ex-dividend date: The ex-dividend date is 01-08-2022. It has a dividend yield of 0.54% if today's current market price of the share (Rs 2585 apiece) is taken into consideration. It has consistently declared dividend for the past five years.
2. Financials
The company has strong financials. The company is almost debt-free and it is expected to give a great quarter. The company has been maintaining a healthy dividend payout of 20.76%. There is no threat to this stock. It has a surging cash flow and cash from its operating activity, yet another positive. The company has a P/E of 37.45 and sector P/E is 24.43.
It is market captilisation is 12,085 crore. It announced its Q4 results on May 18. The consolidated net profit jumped 2% to Rs 111.63 crore. Profit before tax or PAT surged 1.51% YoY TO Rs 148.94 crore in Q4 ending March 31.
3. Stock outlook
The current market price is Rs 2585 apiece on NSE with a gain of 0.10%. It has touched its 52 week high of Rs 2864 and 52-week low of Rs 1725 apiece. The stock has given a positive return of 16.01% in 3 months, 28.21% in 6 months, 29.19% in 1 year, and 246% in 5 years.
4. About the company
Ratnamani Metals & Tubes Ltd came into existence in 1983. It takes up manufacturing of stainless-steel pipes, tubes, and carbon steel pipes. It is not only manufacturing theses products but also delighting its customers through unmatched quality.
