2,800 per cent dividend announced: do you have this stock in your portfolio?
The group has a share of over 55 per cent in the organised domestic paints market (the second-largest player has a market share of 19 per cent).
Asian Paints Limited announced its quarterly and annual results for the year ended March 31, 2024. The revenue of the company for Q4FY23, stood at Rs 8,701.46 crore which declined by 0.56 per cent YoY. The operating profit of the company stood at Rs 1,878.48, which declined by 4.66 per cent YoY while the PAT of the company grew by 1.21 per cent YoY staying at Rs 1,249.98 crore.
The board of the company recommended a dividend of Rs 28.15 per equity share with a face value of Rs 1.00 each (2,800 per cent), for the financial year ended March 31, 2024. The company has fixed Tuesday, 11th June 2024 as the record date for payment of dividend.
Asian Paints is the largest home decor company in India. The 80+year-old company has major brands like Asian Paints, Berger, Apco, etc under its umbrella. The company is into wall paints, wall coverings, waterproofing, texture painting, wall stickers, mechanized tools, adhesives, modular kitchens, sanitaryware, lightings, soft furnishings, and uPVC windows.
The Asian Paints group has some of the leading brands under its umbrella like Asian Paints, Sleek, Berger, Weather Seal, Apco, Taubman, Kadisco, Scib etc. On Friday, the stock of Asian Paints Limited opened at Rs 2,702.75, with a high and low of Rs 2,792.00 and Rs 2,671.00, respectively. The stock closed trading at Rs 2,772.80, up by 2.28 per cent. The stock has a 52-week high of Rs 3,566.90 and a 52-week low of Rs 2,671.00.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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