Rs 2.25/Share Dividend: Large Cap Stock Sets Record Date For 225% Dividend Payout

During Friday's closing session, Astral Ltd., a large-cap company, reported a market cap of Rs 49,698.51 Cr. The most prominent CPVC pipe and fitting manufacturer in India is Astral Pipes. The company has recommended a final dividend of 225% for FY23 for which it has announced record date.

"Pursuant to the Regulation 42 of SEBI Listing Regulations, it is hereby informed that the Company has fixed Friday, 4th August, 2023 as 'Record Date' for the purpose of determining entitlement of the shareholders of the Company to receive Final Dividend of Rs. 2.25/- (@ 225%) per equity share having face value of Rs. 1/- each fully paid up for the financial year 2022-23. The said Dividend, if declared by the shareholders at the ensuing Annual General Meeting, shall be paid on or after 16th August, 2023, subject to deduction of tax at source as applicable," said Astral in a stock exchange filing.

Astral Limited has announced an equity dividend of Rs 5.75 per share for the financial year ended March 2023. This generates a dividend yield of 0.31% at the current share price of Rs 1850.20. The company has a solid track record of dividend declarations during the past five years. Since June 9, 2008, Astral Ltd. has issued 29 dividends, according to statistics from Trendlyne.

The firm recorded a net profit of Rs 205.7 crore for the fourth quarter that ended March 31, 2023, up 45.5 percent (YoY) from a net profit of Rs 141.4 crore in the March 2022 quarter. In comparison to Q4FY22, when total revenue was Rs. 1,390.6 crore, it climbed 8.3 percent to Rs. 1,506.2 crore in Q4FY23. In the fourth quarter of FY23, EBITDA jumped 42.5 percent to Rs 309 crore from Rs 216.8 crore in the similar period of FY22. EBITDA margin grew from 15.6 percent in Q4FY22 to 20.5 percent in Q4FY23. The company is yet to declare its Q1FY24 results.

On Friday, the shares of Astral Ltd closed on the BSE at Rs 1850.20 apiece up by 0.29% from the previous close of Rs 1844.85. The stock made a 52-week-high of Rs 2,022.70 on (14/06/2023) and a 52-week-low of Rs 1,286.29 on (25/07/2022). During Q4FY23, the company reported promoter shareholding of 55.85%, FIIs stake of 13.86%, DIIs stake of 16.50% and public stake of 13.79%.