RK Damani-billionaire investor held company stock VST Industries is soon to pay a final dividend of Rs. 140 or 1400%. This dividend was announced by the company in its board meet on April 26, 2022 and in respect of the same the stock shall adjust in stock price or will go ex-dividend on July 13, 2022. The record date for the dividend is July 15, 2022.This means that those investors who hold the share of VST Industries as on the record date in their demat account will be eligible to receive the hefty Rs. 140 per share dividend.
The company has a good record of paying dividend and since May 2001 has announced 22 dividend. Considering the dividend of Rs 140 for the fy 22 and the current share price of Rs. 3033 offers a high dividend yield of 4.62%.
RK Damani, the billionaire investor as of March 2022 has 1.63% stake in the firm.
The company in the March ended quarter clocked 19.7% rise in net profit to Rs. 87.19 crore on around 9% increase in net sales. On an overall basis, the company ended the Fy22 with growth in turnover as well as profit.
VST Industries is a Hyderabad-based small cap company primarily engaged in manufacture of cigarettes containing tobacco and unmanufactured tobacco. The company's brands under which it offers its products are Charminar, Charms and Moments.