Small Cap Engineering Stock Recommends 30% Dividend, Fixes Record Date, Scrip Jumps 369.3% In 3 Yrs

Engineering sector firm International Combustion (India) Ltd. in an exchange filing on June 7, 2023, informed the exchange for the purpose of payment of dividend @ 30% i.e.e Rs 3/share of the face value of Rs. 10 each for the Financial Year 2022-23. Along with the Dividend, the board also announced the record date for the dividend as Wednesday, 23rd August 2023.

Dividend Payment Date

The Board of Directors of International Combustion (India) Ltd. in an exchange filing has said, "We hereby inform you that the 87 Annual General Meeting (AGM) of the shareholders of the Company shall be held on Wednesday, 30 August, 2023 at 2.00 P.M. IST through VideoConferencing ("VC") / Other Audio-Visual Means ("OAVM") in compliance with the applicable provisions of the Companies Act, 2013, read with the Ministry of Corporate Affairs, Government of India, General Circulars No. 20/2020 dated 5th May, 2020 & No. 10/2022 dated 28th December, 2022. The Register of Members and Share Transfer Books of the Company shall remain closed from Thursday, 24th August, 2023 to Wednesday, 30 August, 2023 (both days inclusive) for the purpose of holding the said AGM and for the purpose of payment of dividend @ 30% Le. Rs. 3/- per equity share of the nominal/ face value of Rs. 10/- each for the Financial Year ended 31st March, 2023, if declared by the shareholders at the said AGM."

It added, "Accordingly, the record date for the purpose of payment of the said dividend shall be Wednesday, 23rd August, 2023, i.e. the members whose names appear in the Register of Members of the Company at the close of business on Wednesday, 23rd August, 2023, shall alone be entitled to the said Dividend.,"

Furthermore, "We further inform you that the Dividend, if declared, shall be paid/dispatched on or after Friday, 8th September, 2023 and within the time-limit specified in the Companies Act, 2013."

Stock Movement

The stock of International Combustion (India) Ltd. closed 1.77% down at Rs. 496.05 apiece on BSE. It declined 0.63% in 1 week, and 5.15% in 1 month, respectively. It surged 18.5% in 3 months and 50.55% in 6 months, respectively.

The stock has given 77.8% positive return in 1 year. It gave 369.3% multibagger return in 3 years, while 25.57% positive return in 5 years.

The stock has recorded its 52 week high on 10 May 2023 at Rs. 543.05 apiece ans 52 week low on 27 July 2022 at Rs. 235.70 apiece, respectively.

About - International Combustion (India) Ltd.

International Combustion (India) Ltd. is an engineering sector small cap company engaged in the manufacturing and supply of Vibrating Screens and Feeders, Cone Crushers, Bulk Material Handling Equipment, Mining haulages, Raymond Grinding Mills, Air Classifiers and Flash Drying systems and Geared Motors and Gear Boxes.

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