Rs 325/Share Dividend: Debt-Free Stock Sets Record Date For 325% Payout

Small-cap firm The Yamuna Syndicate Ltd operates in the commercial services industry. The company trades and markets a wide variety of products, components, and consumables for the auto industry, agrochemicals, and industrial and consumer electricals. The company has declared a final dividend of 325% for FY23 and for the purpose of the same record date has been finalized.

Yamuna Syndicate Dividend

"Further, pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books of the Company shall remain closed from Friday, August 18, 2023 to Thursday, August 24, 2023 (both days inclusive) for the purpose of the AGM and for payment of Final Dividend of Rs. 325/- per equity share of Rs. 100/- each, as recommended by the Board of Directors for the financial year ended March 31, 2023 subject to approval of the Members in the AGM," said The Yamuna Syndicate in a stock exchange filing.

While announcing the record date for final dividend, The Yamuna Syndicate informed stock exchanges that "Final Dividend on Equity Shares for the financial year ended March 31, 2023, will be paid after declaration by the members in the AGM:- (i) In respect of shares held in physical form, to those members, whose names appear on the Register of members of the Company on August 24, 2023, after giving effect to all valid transmission and transposition request lodged with the Company on or before August 17, 2023. (ii) In respect of shares held in electronic form, to those beneficial owners, whose names appear in the statements of beneficial ownership furnished by National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL), as at the end of business hours on August 17, 2023."

Yamuna Syndicate Financials

The company reported revenue from operations of Rs 15.05 Cr in Q4FY23 compared to Rs 14.10 Cr in Q3FY23. Its net profit reached Rs 0.61 Cr in March 2023 quarter compared to Rs 0.43 Cr in December 2022 quarter. The EPS of Yamuna Syndicate stood at Rs 19.79 in Q4FY23 compared to Rs 13.98 in Q3FY23.

While in FY22-23, its revenue reached Rs 68.38 Cr and net profit stood at Rs 8.88 Cr. Yamuna Syndicate said its EPS was Rs 288.89 in 12MFY23. The company is yet to declare its Q1FY24 results.

Yamuna Syndicate Share Price Target

On Thursday, the shares of The Yamuna Syndicate opened on the BSE at Rs 13478.90 apiece and while writing this copy the scrip was trading at Rs 13450 with a downside gap of 0.29%. The stock made a 52-week-high of Rs 14,949.90 on (05/08/2022) and a 52-week-low of Rs 10,199.50 on (25/05/2023). During Q1FY24, the company recorded promoter shareholding of 74.87%, DIIs stake of 0.01% and public stake of 25.12%. As per the data of Trendlyne, Yamuna Syndicate is a debt-free company having a debt-to-equity ratio of 0 and it has a price to earning Ratio of 4.6, lower than its sector PE ratio of 88.5.

A R Ramachandran, Co-founder & Trainer - Tips2trades said, "Yamuna Syndicate stock price is looking bearish with strong resistance at 13850 on the Daily charts. A daily close below 13000 could lead to a target of 11600 in the near term."

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