Unbelievable Reward: This small-cap company is giving a 110 per cent dividend
Kirloskar Industries Ltd, a Small-Cap company, has declared a dividend of Rs 11 per share (110 per cent) for the fiscal year 2022-23. However, permission of the company's shareholders at the Annual General Meeting is required. The dividend, if granted, will be paid on or before September 11, 2023. The record date has been set for August 5.
Furthermore, the company announced that the Board of Directors has given its approval for the conversion of 6,00,00,000 Optionally Convertible Debentures (OCDs) of Rs 10 each held by the Company into 27,24,868 fully paid-up equity shares of Avante with a face value of Rs 10 each at a conversion price of Rs 253.64.
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The share of this company has given a multibagger return of over 150 per cent to investors in one year. At present, the shares are trading at Rs 3,307.45 up by 32 points or 0.98 per cent from its previous closing of Rs 3,275.45. The shares are trading close to their 52-week high of Rs 3,535 and its 52-week low is Rs 1,276.25.
Kirloskar Industries is engaged as a windmill generator with a total capacity of 5.6 megawatts. Additionally, the company delivers combustion engines and does business in India's engineering sector.