250% Final Dividend: Metal stock sets record date - Check share price target and other details

APL Apollo Tubes Dividend 2023, APL Apollo Tubes Dividend Record Date:  APL Apollo Tubes Limited, India's largest structural steel tubing company, has recommended a final dividend of 250 per cent per equity share. The dividend has been announced for the financial that ended Marcy 31, 2023. In an exchange filing, the company said that its board has also fixed the record date for the dividend.   
 
APL Apollo Tubes Limited, headquartered in Delhi NCR, has announced a dividend of Rs 5 per equity share. As a dividend is calculated on the face value of equity share, which is Rs 2 in this case, it translates into a 250 per cent dividend per share. 

APL Apollo Tubes Dividend 2023: Record Date

In order to be eligible to get benefits of the corporate action, a person should own the shares of the company before the record date. 

"The company has fixed Saturday, September 2, 2023 as the record date for determining entitlement of members to final dividend for the financial year ended March 31, 2023," the company said in a filing.

In this case, APL Apollo Tubes has fixed September 2 as the record date for determining members who will be eligible for the dividend for the financial year 2022-23 - if declared at the Annual General Meeting (AGM).  

A dividend is a distribution of profits by a corporation to eligible shareholders. 

APL Apollo Tubes Dividend 2023: Dividend History

Earlier, the company had announced a final dividend of Rs 3.5 per equity share in September 2022. In 2021, APL Apollo Tubes issued bonus shares in a ratio of 1:1. In 2018 and 2019, the company paid dividends of Rs 14 per share.

APL Apollo Tubes Dividend 2023: Share price history

Shares of APL Apollo Tubes were trading at Rs 1539.55 at around 12.40 pm. The scrip has delivered a positive return of around 8 per cent in the last month. So far this year, the counter has zoomed around 39 per cent. The metal stock has made its investors wealthier by over 831 per cent. 

APL Apollo Tubes Dividend 2023: Share price target

Brokerage firm Motilal Oswal has a buy call on  APL Apollo Tubes with a target price of 1715.