Multibagger Midcap Stock Fixes Record Date For 350% Dividend, To Trade Ex-Dividend On Sept 22

Finolex Cables Ltd. in an exchange filing on Wednesday, Aug 16, informed the stock exchanges that the company has fixed Sept 22, 2023, as record date for dividend, if approved, shall be paid on or before Oct 28, 2023. The Board of Directors at its meeting held on May 26, 2023, had recommended a dividend of 350 i.e. Rs 7 per equity share for the financial year 2022-23.

The Board of Directors of the company in an exchange filing said, "The record date for determining the entitlement for receiving Dividend for the Financial Year 2022-23, is Friday, September 22, 2023. The said dividend, if declared at the AGM, will be subject to deduction of tax at source as applicable and will be paid on or before 28th October, 2023 to those Members whose names appear in the Register of Members as on the date of the AGM in respect of shares held in physical form and in respect of shares held in electronic form on the basis of beneficial ownership as per details to be received from respective Depositories i.e. National Securities Depository Limited ("NSDL") and Central Depository Services (India) Limited ("CDSL") as of close of their respective business hours on Friday, 22nd September, 2023)."

The shares of Finolex Cables closed 0.95% higher at Rs 1024.90 per share on BSE with highs and lows of Rs 1070.05 and Rs 993.35, respectively. The stock has fallen 6.91% in the last 1 week, while it gained 17.21% in the last 1 month. It has given a strong return of 52.94% in the last 6 months. In 1 year, it gave 123.75% multibagger return. In 2 years, it gave 116.41% positive return. In 3 years, it gave 265.71% positive return. In 5 years, it has given 72.88% positive return.

Finolex Cables Ltd. is a leading manufacturer of electrical and telecommunication cables in India. Besides manufacturing a wide variety of wires and cables, Finolex has also forayed into the manufacturing of Fast-Moving Electrical Goods (FMEG) and home appliances. Over the years, the Company has established itself as a preferred electrical solutions provider for retail and institutional markets in India and created a strong brand name. It is a midcap company with a market cap of Rs 15,674.75 Crore.

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