Petrochem Stock Declares 1:2 Stock Split, 100% Dividend: Shares Down 21% In 3 Months

Supreme Petrochem Ltd (SPL) owns and operates production facilities from two locations in India, the first in District Raigad Maharashtra and the second near Chennai in Tamil Nadu. SPL exports its products to more than 100 countries all over the world. The stock has declared stock split in the ratio of 1:2 and 100% dividend for its shareholders. The company has a market capitalisation of Rs 6,571 crore.

Check key takeaways pertaining to stock split and dividend:

1. Supreme Petrochem Ltd Declares Stock Split, Dividend

The board of director of SPL announced in its BSE filing, "Declared Interim Dividend of Rs.4/- (four) per equity share of the Company having face value of Rs.4/- (four) (viz. 100%) for the Financial Year 2022-2023 on its paid-up equity share capital (consisting of 94020671 equity shares of Rs. 4/- each) entailing an outgo of Rs.3760.83 Lakhs. The Company has fixed Friday, November 4, 2022 as the "Record Date" for the purpose of eligibility of aforesaid Interim Dividend. Accordingly, the shareholders of the Company as at the close of business hours on Friday, November 4, 2022 will be eligible for payment of dividend.

The board further announced, "Sub-Division/Split of existing equity share of the Company from 1 (one) equity share having facevalue of Rs.4/- each, fully paid-up into 2 (two) equity shares having face value of Rs.2/- (two) each fully paid-up, subject to approval of shareholders of the Company. The Record Date for such subdivision/split of equity shares will be intimated in due course."

2. Supreme Petrochem Ltd Stock Outlook

The current market price of the stock is Rs 698 apiece with 52-week high at Rs 1027 apiece and 52-week low at Rs 606 apiece, respectively. The stock has witnessed a dip of 1.82% in morning trading today. The shares have declines 21% in the last 3 months.

3. Supreme Petrochem Return

The stock has given a return of 92% in last 5-years, 302% in last 3-years, and 11% in last 1-year.

4. About Supreme Petrochem

It manufactures Polystyrene (PS), Expandable Polystyrene (EPS), Specialty Polymers and Compounds (SPC), Extruded Polystyrene Foam Boards (XPS), Styrene Methyl Methacrylate (SMMA), The Infrastructure at the facility is geared to handle upto a million tons of Polymers. The Tamil Nadu facility manufactures Expandable Polystyrene (EPS).

5. Supreme Petrochem Latest Quarterly Results

Supreme Petrochem announced a dip of 53% in its net profit to Rs 59.65 crore for the quarter ended September 2022 as against Rs 127 crore reported in the previous quarter ended September 2021. Meanwhile, sales registered a surge of 3.57% to Rs 1231 crore for the quarter ended September 2022 as against Rs 1189 crore declared in September 2021.

Disclaimer

The above stock has declared stock split and dividend for its shareholder. Readers should not construe the story for investment advice into the mentioned stocks.