400% dividend stock: This small cap chemical company announces final and one-time special dividend

400% Dividend Stock: Foseco India, a chemical manufacturing company, has announced to pay a whopping 400 per cent dividend per equity share to its investors. The company has informed that the board has approved the payment of a final dividend of 250 per cent and a 150 per cent one-time special dividend to the shareholders.

According to an exchange filing, the company will pay Rs 25 final dividend per equity share bearing a face value of Rs 10 each to shareholders and Rs 15 one-time special dividend. In total, the company will pay Rs 40 divided per equity share.

"The Board of Directors of the Company has recommended for approval of the Members at the next Annual General Meeting of the Company, a final dividend of Rs. 25/- (250%) on a paid-up equity share of Rs. 10/- each for the financial year ended 31 December 2022, plus a one-time special dividend of Rs. 15/- (150%) giving a total final dividend of Rs. 40/- (400%) per share," the company said in the filing.

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Foseco India has not announced the record date for determining the eligibility of shareholders for the dividend. The company will inform the shareholders about the record date in due course.

Foseco India Dividend History

Foseco India Q4 results

The company reported a 51 per cent jump in its net profit to Rs 1,226 crore in the December quarter and a 21 per cent growth in revenue from operations at Rs 105.70 crore.

Foseco India Share Price NSE

Foseco India shares on Tuesday gained 9 per cent to hit 52-week high of Rs 2,225.  YTD, the stock has yielded a bumper return of 66 per cent. At current market levels, Foseco India has a market cap of 1.39 thousand crore.

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