Penny Stock Priced Under Rs 20 Announces a Whopping 775 per cent Interim Dividend - Don't Miss the Record Date

Not a company to be underestimated, and investors would do well to keep a close eye on this exciting and dynamic player in the market

When you invest in stocks, you not only hope to see your share prices rise, but also to receive dividends. Dividends are payments made by companies to their shareholders, usually in cash or sometimes in the form of additional shares.

Dividends are typically paid out of a company's profits and can be a source of steady income for investors. Many companies pay dividends regularly, while some may pay special dividends in addition to regular ones. However, not all companies pay dividends, and the amount of the dividend can vary depending on the company's financial performance and management's decision. Nonetheless, dividends can be an attractive incentive for long-term investors seeking both capital appreciation and regular income.

Taparia Tools Ltd has become the talk of the town among dividend investors on D-Street, and for good reason. Despite its small market cap of just 3.35 crore, the stock has been making waves, having recently hit its upper circuit limit of 5 per cent at a level of Rs 11. It's clear that Taparia Tools Ltd is not a company to be underestimated, and investors would do well to keep a close eye on this exciting and dynamic player in the market

The company has announced a staggering interim dividend of a whopping Rs 77.5 per share (775 per cent). For the year ending March 2022 Taparia Tools has declared an equity dividend of 1725 per cent amount to Rs 172.5 per share.

The company was incorporated in 1969 and is involved in manufacturing and trading of hand tools. In FY21, company generated revenue from sales of products 23 per cent, sale of traded products 74 per cent and scrap sales 3 per cent.

The company has set the record date for interim dividend as March 16, 2023.