Rs 75/Share Dividend: Page Ind To Trade Ex-Dividend Today For 750% Payout

Page Industries is a large-cap consumer discretionary company that recorded a market cap of Rs 46,005.10 Cr during Thursday's closing session. The JOCKEY® brand is manufactured only in India, Sri Lanka, Bangladesh, Nepal, and the United Arab Emirates by Page Industries Limited, a company with headquarters in Bangalore, India. The company has declared an interim dividend of 750% and the stock is going to turn ex-dividend today as per the data of BSE. Page Industries has fixed 19th August as the record date to determine the eligible shareholders for the purpose of above said dividend.

Page Industries Dividend

"We further inform you that the Board of Directors of the Company at their meeting held today (i.e., 10 August 2023) has declared 1st Interim Dividend 2023-24 of Rs. 75/- per equity share. As informed earlier, the record date fixed for the payment of interim dividend is 19 August 2023. The date fixed for payment of dividend is on or before 7 September 2023," said Page Industries in a stock exchange filing.

Page Industries has announced an equity dividend of 2500.00% at a face value of Rs 10, or Rs 250 per share, for the financial year ended March 2023. This generates a dividend yield at the current share price of Rs 41245.85 of 0.61%. The company has a solid track record of dividend declarations during the past five years. Page Industries Ltd. has issued 62 dividends since August 27, 2007, according to data from Trendlyne.

Page Industries Financials

For the quarter that ended on June 30, 2023 (Q1FY24), the firm recorded a net profit of Rs 158.3 crore, a drop of 23.5% year on year (YoY) from a profit of Rs 207 crore in the corresponding quarter of FY23. Its revenue from operations was Rs 1,240 Cr in the first quarter of FY24, down 7.77% from Rs 1,344.5 Cr in the same period of fiscal year 2023. The company's basic earnings per share (EPS) for the quarter under review was Rs 141.98, compared to Rs 185.62 in the same quarter last year. EBITDA, or earnings before interest, tax, depreciation, and amortization, fell 18.8% during the quarter to Rs 241.7 crore. The EBITDA margin was 19.5% and fell by 270 basis points YoY.

Page Industries Share Price Target

Deven Mehata, Equity Research Analyst of Choice Broking said, " PAGEIND is currently trading at 41280 levels. The stock has bounced from the support range of 35730 - 36480. The stock is forming higher high higher low formation since the last 5 days. The stock is moving above all-the important moving averages indicating strength. The momentum indicator has moved higher and is now trading at 78 levels.

A small resistance is visible at 43500 levels which is also a recent top for the stock. Once stock crosses the above mentioned resistance it can further move towards the next resistance of 44600 and 46800 levels. On weekly charts the stock has given a breakout of a downward slopping trend line indicating the bullish strength in the stock. The Breakout is backed by the strong volumes and hence stock has the strength to move higher towards the levels of 44600 and above."

Disclaimer

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