Multibagger Stock: This ace investors' favourite counter to trade ex-dividend on Wednesday – check record date and other details

Multibagger stock, Ramesh Damani, Anil Goel, Interim Dividend, Record Date: Small-cap multibagger stock – Panama Petrochem Limited's shares will trade ex-dividend on Wednesday, November 23, 2022. The lubricants company had announced the interim dividend for the current fiscal along with July-September quarterly earnings earlier this month. 

Panama Petrochem Ltd is one of the leading manufacturers and exporters of petroleum specialty products and has consistently provided quality services since 1975. The company manufactures various lubricants and chemicals such as petroleum jelly, Ink/coating oils, automotive oils, and waxes among others. 

Panama Petrochem Interim Dividend 

“The Board Meeting held on November 14, 2022, the Directors have declared an interim dividend of Rs 3 Per Equity Share of Rs 2 each 150 per cent of the Company,” an exchange filing said.  

The company in another filing has set November 24, 2022, as the Record Date for the interim dividend. “An interim dividend shall be paid to the shareholders of the company whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as of Thursday, November 24, 2022, which is the Record Date fixed for this purpose.” 

This means the stock is to trade ex-dividend date a day prior to the Record Date, which is tomorrow, November 23, 2022.   

An ex-dividend date is a day on which a stock trades without the benefit of the next scheduled dividend payment. While the record date finalises the transfer of the stock's ownership. 

Panama Petrochem: Ace Investors' Favourite 

Renowned investors such as Ramesh Damani and Anil Goel have between 1-1.5 per cent stakes in the company as of September 2022 quarter. The former increased his holding marginally in the company, while the latter did a minor reduction as per the latest shareholding pattern. 

Damani holds 6,36,379 equity shares or 1.27 per cent stakes, while Goel has 7,60,000 equity shares or 1.52 per cent stakes in Panama Petrochem, as per September 2022 BSE holding pattern. 

Panama Petrochem Share Price History 

Shares of Panama Petrochem have been trading near its all-time high level, the stock on Tuesday closed more than 1 per cent lower to Rs 359 per share in an otherwise positive market. The stock on Monday touched its all-time high level of Rs 374 per share on the BSE. 

In the last two years, the stock has given multibagger returns as it surged nearly 400 per cent or 5 times from Rs 72 apiece registered on November 20, 2020, to today’s closing of Rs 360 per share. To put it in perspective, Rs 1 lakh worth of shares would have become Rs 5 lakh in the two years period. 

The stock in the last five sessions has gained around 10 per cent, while it grew by almost 25 per cent in the last one month.