Rs 3/Share Dividend: Small Cap Chemical Stock Sets Record Date For 30% Dividend Payout

During Friday's closing session, the market capitalization of small-cap company Punjab Chemicals & Crop Protection Ltd reached Rs 1,063.01 Cr. Punjab Chemicals is among the leading agrochemicals companies with synergistic pharmaceutical and industrial chemical products.

"The Board has recommended dividend of 30% i.e. Rs. 3/- per equity share on equity shares of Rs.10/- each, subject to approval of members at the ensuing Annual General Meeting. The dividend will be paid / dispatched within 30 days of the Annual General Meeting," said Punjab Chemicals & Crop Protection in a stock exchange filing.

"Pursuant to Regulation 42 of the SEBI (LODR) Regulations, 2015, the Register of members and the Share Transfer Books of the Company shall remain closed from Friday, the 25th July, 2023 till Friday, the 4th August, 2023 (both days inclusive) for taking record of the Members of the Company for the purpose of the 47th Annual General Meeting (AGM') and payment of dividend subject to tax deducted at source, if declared by the Members of the Company at the AGM to be held on Friday, 4th August 2023.

The Company is providing the facility to its members to cast vole by electronic means (Remote E-voting) on all the business specified in the Notice convening the 47th AGM, Accordingly for the purpose of determining the shareholders eligibility to cast their votes electronically, the Company has fixed Friday,25th July, 2023 as the cut off date. The remote e-voting facility will commence on Sunday, 30th July, 2023 from 9:00 A.M. (lST) and shall end on Thursday,3rd August,2023 at 5:00 P.M. (lST)," said Punjab Chemicals & Crop Protection in a stock exchange filing.

Punjab Chemicals & Crop Protection has announced an equity dividend of 30.00% at a face value of Rs 10, or Rs 3 per share, for the financial year ended March 2023. The dividend yield at the current share price of Rs 866.90 is 0.35%. The company has a solid track record of dividend declarations during the past five years. Punjab Chemicals and Crop Protection Ltd. has issued 13 dividends since September 3, 2001, according to Trendlyne statistics.

The firm recorded revenue from operations of Rs 195.04 crore for the quarter ended March 2023, a decline of 24.6% YoY from Rs 258.68 crore for the same quarter of March 2022. According to the firm, the net expenses for Q4FY23 were Rs 185.49 Cr as opposed to Rs 232.94 Cr for Q4FY22. According to Punjab Chemicals and Crop Protection, its net profit for the fourth quarter of FY23 was Rs. 3.20 crore, down by 84% from Rs. 19.35 crore in the same quarter last year. As opposed to Rs 15.78 in the same quarter last year, its EPS for the fourth quarter of FY23 was Rs 2.61. The company is yet to declare its Q1FY24 results.

On Friday, the shares of Punjab Chemicals And Crop Protection closed on the BSE at Rs 866.90 apiece down by 0.12% from the previous close of Rs 867.95. The stock made a 52-week-high of Rs 1,449.95 on (02/08/2022) and a 52-week-low of Rs 722.10 on (22/05/2023). During Q1FY24, the company reported promoter shareholding of 39.22%, FIIs stake of 2.97%, DIIs stake of 0.20% and public stake of 57.60%.