Special Dividend of Rs. 39: 22nd November Record Date; But To Get The Payment?

Premco Global produces tape, webbing, and knitted and woven elastic and non-elastic thin fabric for use in a variety of industries. The company is also one of the top producers of jacquard elastic tapes for the manufacturing of undergarments. At Premco House A/26 MIDC, Central Road Andheri(E), Mumbai, Maharashtra, you can find Premco Global's registered office.

Premco Global Dividend

The Board of Directors declared and approved "Payment of Special Dividend of Rs. 39/- per share of Rs. 10 each (390%) for the financial year 2024- 2025. The Special Dividend, shall be paid to the equity shareholders of the company whose name appear on the register of Members of the company or in the records of the depositories as beneficial owners of the shares as on Friday, 22nd November, 2024 which is the Record date fixed for the purpose. The Special Dividend shall be paid to shareholders on or before 11th December 2024," said the company in a stock exchange filing.

Premco Global Financials

In the September 2024 quarter, the company's standalone net sales were Rs 14.84 crore, a 12.84% drop from the September 2023 quarter's net sales of Rs 17.03 crore. As of Q2FY25, the company's standalone net profit was Rs. 0.21 crore, an 87.55% decline from Q2FY24's Rs. 1.65 crore. In the September 2024 quarter, EBITDA was Rs. 1.28 crore, a 53.28% drop from Rs. 2.74 crore in the same period of the year-ago quarter.

On a consolidated basis, Premco Global's net profit plummeted 15.96% to Rs 1.79 crore in the quarter that ended in September 2024 from Rs 2.13 crore in the same period last year that ended in September 2023. On a consolidated basis, sales jumped by 8.16% to Rs 25.97 crore in the September 2024 quarter compared to Rs 24.01 crore in the September 2023 quarter.

Premco Global Share Price Target

"Premco Global stock price is bullish but also over-bought on the Daily charts with next resistance at 580. Investors should be booking profits as a Daily close below support of 547 could lead to a target of 458 in the near term," said A R Ramachandran, Independent Research Analyst.

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