1500 per cent dividend- This RK Damani stock declares highest dividend ever in its history!
The FII and DII holding stands at 1.6 and 16.9 per cent, respectively. Interestingly, ace investor Radhakishan (RK) Damani holds 1.63 per cent stake in the company.
The month of April turned out to be fabulous one for the Indian benchmark indices with Sensex and Nifty managing to reclaim their important psychological level of 61,000 and 18,000, respectively after mid-February.
For the month, Sensex and Nifty jumped 6.07 and 6.57 per cent, respectively. Meanwhile, the Bank Nifty outperformed as it witnessed a stupendous rally of over 9 per cent during the month. Interestingly, the fund flows from FIIs and DIIs have been positive for the month of April. FIIs were net buyers to the tune of Rs 5,711.80 crore, while DIIs were net buyers to the tune of Rs 2,216.57 crore in the cash market for the month of April.
There are so many things for investors to cherish but the cherry on the cake is the dividend announcements during the month of April and talking about dividend we cannot miss this company which has recommended the highest dividend in its history. The Board of Directors have recommended a final dividend of Rs 150 per equity shares (1500 per cent on face value of Rs 10). The dividend is subjected to approval of the shareholders at the ensuing 92nd Annual General Meeting. The company name is VST Industries Ltd.
VST Industries Ltd is known for rewarding its shareholders with a hefty final dividend. Last year it had declared Rs 140 final dividend and overall, the company has declared 22 dividends since May 28, 2001. However, what makes this dividend recommendation amazing is the fact it is the highest dividend recommended by the board in its history.
At the current share price of Rs 3282.35, results into a dividend yield of 4.27 per cent and ROCE stands at 38.1 per cent and stock is trading at a P/E of 15.5.
Talking about the shareholding holding pattern, promoter holding stands at 32.2 per cent as of quarter ended March 2023, while the FII and DII holding stands at 1.6 and 16.9 per cent, respectively. Interestingly, ace investor Radhakishan (RK) Damani holds 1.63 per cent stake in the company.