Highest-ever dividend: Multibagger micro-cap stock with low PE and high dividend yield - A must-watch!

The company declared an interim dividend of Rs 15 per share, marking the highest dividend announcement in its history.

Indian benchmark indices have been experiencing a roller coaster ride lately, with the Nifty 50 index traversing a broad range over the past few weeks. Given the index's oscillations, it's prudent for investors to adopt a stock-specific approach in the market. Amidst this landscape, one micro-cap stock deserving attention is Majestic Auto Ltd.

Despite profit booking in the benchmark indices on Friday, Majestic Auto witnessed a notable surge of 6 per cent, currently trading around Rs 361 per share. With a market capitalization of Rs 371 crore, the company offers an enticing dividend yield of 2.09 per cent. Notably, on Thursday, the company declared an interim dividend of Rs 15 per share, marking the highest dividend announcement in its history.

The interim dividend of Rs. 15/- per share for the financial year 2023-24 reflects the company's robust financial performance and its commitment to shareholders. The board has set February 20, 2024, as the record date for determining entitlement to the interim dividend, with dividend warrants expected to be dispatched by March 08, 2024.

Majestic Auto's stock has demonstrated stellar returns, delivering multibagger gains of 143.09 per cent over the past year and an impressive surge of 224.35 per cent over the last three years. This performance underscores the company's strong growth trajectory and investor confidence in its prospects.

Disclaimer: The article is for informational purposes only and not investment advice.