Rs 60/Share Dividend: Small Cap Stock To Trade Ex-Dividend On Monday For 600% Payout

Small-cap firm Voltamp Transformers Ltd operates in the capital goods industry. In 1963, Voltamp Transformers Limited was established. In Vadodara, the company is headquartered. The company has a plant in place for producing oil-filled power and distribution transformers. The company has declared a 600% dividend payout for FY23 and on 31 July 2023, the stock is turning ex-dividend. Due to the company's T+1 settlement mechanism the record date is also falling on the same date.

Voltamp Transformers Dividend

The Board of Directors of the company have "Recommended dividend on Equity Shares @400% (i.e. Rs. 40 per equity share). In addition, Directors also recommended payment of one time special dividend @200% i.e.Rs.20 per equity share on successful completion of 60 years in transformer business. With that total final dividend recommended is @600% i.e. Rs. 60 per share of Rs. 10 each for the year ended on 31st March, 2023," said Voltamp Transformers in a stock exchange filing.

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, the Register of Member and Share Transfer Books of the Company will remain closed from 1st August 2023 to 7th August 2023 (both days: inclusive) for taking record of the Members of the Company for the purpose of determining entitlement of members for payment of dividend for the year 2022-23 and eligibility of the members to cast the vote by remote e-voting or by e-voting at the Annual General Meeting to be held on 7th August 2023," said Voltamp Transformers in a stock exchange filing.

Voltamp Transformers has announced an equity dividend of 600.00% at a face value of Rs 10, or Rs 60 per share, for the financial year ended March 2023. This generates a dividend yield of 1.34% at the current share price of Rs 4487.50. The company has a solid track record of dividend declarations during the past five years. Since September 3, 2007, Voltamp Transformers Ltd. has issued 19 dividends, according to statistics from Trendlyne.

Voltamp Transformers Financials

During Q4FY23, the company recorded a net income of Rs 450.69 Cr, up by 14.10% YoY from Rs 395.01 Cr reported in Q4FY22. Its net profit stood at Rs 76.56 Cr in the quarter ended March 31, 2023, up by 47.64% YoY from Rs 51.86 Cr reported during the quarter ended March 31, 2022. Its EPS stood at Rs 75.68 in Q4FY23 compared to Rs 51.26 in the same quarter of FY22.

In the Year Ended FY2023, its net income reached Rs 1425.18 Cr up by 21.79% YoY from Rs 1170.15 Cr in the Year Ended FY2022. Voltamp Transformers said its net profit climbed by 50.52% YoY from Rs 132.83 Cr in 12MFY22 to Rs 199.94 Cr in 12MFY23. While its annual EPS was Rs 197.63 in the entire FY23 compared to Rs 131.30 in FY22. Voltamp Transformers is yet to declare its Q1FY24 results. The Board of Directors of the Company will be held on Monday, 7th August, 2023 to consider and approve the unaudited financial results of the company for the quarter ended on 30th June, 2023, according to Voltamp Transformers.

Voltamp Transformers Share Price

On Friday, the shares of Voltamp Transformers opened on the BSE at Rs 4547.25 apiece and were trading at Rs 4485.35 while writing this copy. The stock made a 52-week-high of Rs 4,849.85 on (20/07/2023) and a 52-week-low of Rs 2,352.00 on (31/01/2023).

During Q1FY24, the company recorded promoter shareholding of 50.00%, FIIs stake of 14.09%, DIIs stake of 25.68%, and public stake of 10.22%.

Voltamp Transformers Share Price Target

A R Ramachandran, Co-founder & Trainer - Tips2trades said, "Voltamp Transformers looks bearish on the Daily charts with strong resistance at 4800. A daily close below support of 4316 could lead to a target of 3560 in the near term."

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