This company announced a whopping 1,050 per cent dividend! Do you have it in your portfolio?

Meanwhile, it is up by 58.90 per cent in the last several years

INEOS Styrolution India Limited, formerly Styrolution ABS (India) Limited, is engaged in engineering thermoplastics.  

The board of directors of the company has considered and declared the second interim dividend of Rs 105 (i.e. 1,050 per cent) per equity share of Rs 10 each for FY2021-22.   

The record data for the purpose of determining the members eligible to receive the second interim dividend is fixed as June 07, 2022 (Tuesday).   

The dividend will be paid within the prescribed timelines.   

The stock has slipped more than 10 per cent in the last one month while it is down by 44.53 per cent in the last one year. Meanwhile, it is up by 58.90 per cent in the last several years.    

Technically, the stock is trading below its important moving averages like 20, 50, and 100-DMA. Moreover, these moving averages are in the desired direction and they are trending downwards, which is negative for the stock.