Building Material Sector Midcap Stock Recommends Rs 40/Share Final Dividend, Fixes Record Date

Akzo Nobel India Ltd. in a Board meeting held on May 23, 2023, recommends a Final Dividend of Rs. 40/share for the financial year 2022-23. The Board also fixes the record date for the recommended final divided as Thursday, 27 July 2023. The recommended dividend is subject to approval of the shareholders of the company at the forthcoming Annual General Meeting (AGM).

Recommends Rs 40/share Final Dividend

According to a regulatory filing by the Board of Directors of the company, "Recommended final dividend of Rs 40/- (Rupees forty only) per equity share for the financial year 2022-23. This final dividend, will be paid if approved by the shareholders at the forthcoming Annual General Meeting. The total dividend for the financial year aggregates to Rs 65/- (Rupees sixty five only) per share, including interim dividend of Rs. 25/- (Rupees twenty five only) per share, approved by the Board on 9 February 2023 and paid subsequently."

Fixes Record Date

The Board in the exchange filing said, "Fixed Thursday, 27 July 2023 as the Record Date for determining entitlement of members to final dividend for the financial year ended 31 March 2023. A member, whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the close of business hours of Thursday, 27 July 2023, shall be entitled to this dividend. The dividend, if approved by the shareholders, will be paid on or after 24 August 2023."

Stock Outlook - Current Market Price, 52-Week Low/High, & Returns

On Wednesday, the stock of Akzo Nobel India closed 1.74% down at Rs. 2,464.20 apiece. It hit the fresh 52 week high on 23 May 2023 at Rs. 2,548.75 apiece, while it hit the 52 week low at Rs 1,687.60 apiece on 17 June 2022.

The stock has fallen 0.53% in 1 week and jumped 7.2% in 1 month. It gave 38.67% positive return in 1 year. In 3 years, it gave a 37.01% positive return, while in the past 5 years, it gave a 29.88% positive return.

About - Akzo Nobel India Ltd.

Akzo Nobel India Ltd. Building Materials sector company engaged in the Business of Manufacture of paints and varnishes, enamels or lacquers. Its main brand is Dulux Paints. It is a midcap company with a market capitalisation of Rs. 11,222.04 crore.

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