This company declared 1,000 per cent dividend; shares soared over 40 per cent in just one month!
The shares will begin trading ex-dividend on September 6, 2022.
Incorporated in 1961, Banco Products (India) manufactures & supplies engine cooling modules and systems for automotive as well as industrial applications in both the domestic and global markets.
Subject to shareholders' approval at the annual general meeting, the company’s board of directors recommended a dividend of Rs 20 (1,000 per cent at a face value of Rs 2) per equity share for the year ended on March 31, 2022. The company has scheduled September 22, 2022, as the record date for determining shareholders' eligibility. The shares will begin trading ex-dividend on September 6, 2022.
On an intraday basis on Friday, Banco Products (India) shares rallied and reached a new 52-week high of Rs 268 per share on BSE. The dividend yield, for Rs 20 per equity share dividend at the current market price, is about 7-8 per cent.
Banco Products (India) shares have soared over 75 per cent in the past six months while in just one month, it gave outstanding returns of 40 per cent to the shareholders!
Keep a close eye on this scrip for the upcoming sessions!