25% Dividend: Multibagger Defence Stock To Trade Ex-Date, Inks MoU With Astra Microwave

Small cap defence company, Premier Explosives Ltd shares are set to trade ex-dividend on September 20, 2024. Last trading price of Premier Explosives shares on BSE is Rs 570.30 per share. Premier Explosives shares gained 112% in last 6-months and declined 18.84% in last 3-months. Earlier this week, the defence firm inked a Memorandum of Understanding (MOU) with Astra Microwave Products Limited on September 10, 2024 for a strategic alliance to develop and sell multiple products jointly. The company's market capitalisation stood at Rs 3066.00 crore. Check details below:

Premier Explosives To Go Ex-Dividend: As per the exchange filing of Premier Explosives dated September 03, 2024, "We have, vide our letter dated May 30, 2024, informed the Stock Exchanges about the recommendation of a dividend of Rs.2.50/- (i.e., 25%) per equity share of Rs.I 0/- each for the financial year ended March 31, 2024, subject to approval of the members at the forthcoming 44th Annual General Meeting of the Company. Shares of our company underwent a sub-division at a ratio of 1:5, with the 'record date being June 21, 2024. The new face value of each equity share is Rs. 2/-. Accordingly, we wish to inform you that a dividend of Rs. 0.50/- (i.e., 25%) per equity share of Rs. 2/- each for the financial year ended March 31, 2024, will be paid to the shareholders, subject to the approval of shareholders at the forthcoming 44th Annual General Meeting of the company."

Premier Explosives Traded Ex-Split In 1:5 Ratio: As per the BSE filing of Premier Explosives issued as on May 30, the company set June 21, 2024 as the record date for stock split in order to ascertain name of shareholders for sub-division/ split of existing 1 (one) Equity Share of face value of Rs. 10/- each fully paid up into 5 (Five) Equity Shares of Rs. 2/- each fully paid up.

Premier Explosives Dividend in 2024: The exchange filing of the company issued as on May 30 stated the Board of Directors recommended a dividend of Rs.2.50/- per equity share of Rs. 10/- each for the FY ended March 31, 2024, subject to approval of the members at the ensuing 44th Annual General Meeting (AGM) of the Company.

Premier Explosives Share Performance: The 52-week high price of Premier Explosives shares on BSE is Rs 909.35 per share (as on 21/06/2024) and 52-week low price is Rs 195.04 per share (as on 22/09/2023), respectively.Premier Explosives shares offered shareholders stunning returns over the years. Premier Explosives stock soared 89% year-to-date, gained 175% in last 1-year, and offered return of 464% in last 2-years. Premier Explosives shares rallied 1113% in last 3-years and zoomed 1528% in last 5-years.

About: Premier Explosives Limited is a Rs.2600 million company established in 1980. Since inception it has been a research and innovation orieted company by manufacturing explosives and detonators with totally indigenous technology in 1980's and 1990's. In 2013, PEL started commercial-scale manufacture of detonators with Nickel Hydrazine Nitrate (NHN)as primary charge emerging as the world first to do so. Extending its research forte to defence products, in 2003 PEL forayed into development of solid propellants and today it is the only private entity in India manufacturing and supplying solid propellants for prestigious missiles like Akash, Astra, LRSAM, etc, according to BSE filing.

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