775 per cent dividend; penny stock under Rs 15 declares bonus!
The stock has a high dividend yield of 1,340 per cent.
Taparia Tools Limited is one of the Dalal Street dividend stocks that is trading ex-dividend today. The board of directors of the micro-cap firm has set June 26, 2023, as the record date for determining who is entitled for the final dividend of Rs 77.50 per share that is 775 per cent dividend per share of Rs 10 each.
Taparia Tools is a penny stock that is now trading at about 11.57 per share on the BSE.
However, there is good news for this penny stock's shareholders: the corporation has declared bonus shares in a 4:1 ratio. For each shareholding, qualifying shareholders will get four bonus shares. The company's board of directors has set July 1, 2023 as the record date for 4:1 bonus share.
Taparia Tools Ltd, founded in 1969, is a company that manufactures and trades hand tools.
The stock has a high dividend yield of 1,340 per cent. Over the last five years, the company has generated a good profit growth of 37.2 per cent CAGR. Taparia Tools also has a strong track record of return on equity (ROE): ROE after three years is 27.6 per cent. Furthermore, the company has maintained a respectable dividend payout of 37.7 per cent.
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In terms of financial performance, the company has recorded positive results.
On June 26, 2023, there were no sellers but a million or more buyers. As a result, no trade was completed.