1000% Dividend In Q2: Petrochemicals Stock Set To Consider Dividend Again

Small cap company operating in petrochemical sector Tide Water Oil (India) Ltd shares zoomed 5.11% intraday today after it informed a day before about its upcoming meeting of Board of Directors to consider financial results and 2nd interim dividend for financial year 2023-24.

The meeting is scheduled to be held on February 13, 2024. Last trading price of Tide Water shares on BSE is Rs 1607.95 apiece. Tide Water shares zoomed 16% in last 1-week span and rallied 64% in last 1-year. Check details below:

Tide Water To Consider Results, 2nd Interim Dividend: As per the BSE filing of the company dated January 30, 2024, "Enclosed please find Notice convening the 343 Board Meeting of the Company to be held on Tuesday, 13 February, 2024, in Mumbai for consideration of Unaudited Financial Results for the quarter and nine months period ended 31st December, 2023 and payment of Second Interim Dividend for the financial year 2023-24." Tide Water fixed February 22, 2024 as the record date for interim dividend.

Tide Water Stock Performance & Return: The 52-week high price of Tide Water share on BSE is Rs 1669.50 apiece and 52-week low price is Rs 809.75 apiece, respectively. The company has a market capitalisation of Rs 2801.69 crore. Tide Water shares gained 19% in last 2-weeks, soared 39% in last 3-months, zoomed 44% in last 6-months, and soared 14% in last 2-years. In last 3-years, Tide Water shares rallied 88%.

Tide Water Oil Dividend In Q2: According to the regulatory filing of the company issued on November 11 2023, "The Board of Directors of the Company at its Meeting held on Saturday, 11" November 2023, recommended payment of First Interim Dividend of Rs. 20/- per equity share of Rs. 2/- each for the year ended 31% March, 2024. The First Interim Dividend will be paid to the members of the Company within 30 days of declaration of dividend. The company determined Tuesday, 21st November, 2023, as the record date for the purpose of the aforesaid First Interim Dividend distribution."

Dividend shall be paid within 30 days from the date of declaration (i.e. within Tuesday, 10th December, 2023).

Tide Water Recent Financial Performance: The company for the quarter ended September 30, 2023 announced its quarterly net profit at Rs 20.96 crore, up 25.81% as against Rs 16.66 crore from September 2022. The company declared its net sales at Rs 381.19 crore for September 2023, up 4.96% from Rs 363.16 crore declared in the corresponding period of last year. Its EBITDA stood at Rs 29.14 crore in September 2023, up 20.96% as against Rs 24.09 crore declared in September 2022. The company's EPS jumped to Rs 12.34 in September 2023 from Rs 9.80 in September 2022.

About: Tide Water Oil Co. (India) Ltd., owner of brand Veedol, is a leading manufacturer and marketer of quality lubricants. It has been catering to both the automotive and industrial segments since 1928.

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