This Large Cap Stock Has Recently Hit 52 Week Low, Paying 1650% Dividend, Record Date Fixed

In the current market situation where volatility has taken over, the returns and income become a matter of concern. However, dividends could bring some relief to investors' pockets. Especially in times of market volatility, dividend-paying equities can meet investors' needs for both current income and capital growth. Many investors choose rising dividend-paying equities because of their higher stability. Even while there are still many unknowns, the best businesses have consistently shown they can increase their dividends, proving they can thrive in a variety of market conditions.

Piramal Enterprises Ltd 1650% Final Dividend

According to the meeting of the board of directors Of Piramal Enterprises Ltd held on 26th May 2022, has declared a final dividend of Rs 1,650% amounting to Rs 33 per share.

The Board of directors in its filing to BSE has stated, "The Board has recommended a Final Dividend of Rs. 33/- (Rupees Thirty-Three only) per equity share of face value of Rs. 2/- each (i.e. @ 1,650%) for the financial year ended 31st March, 2022."

Further, the board of directors announced the record date for the dividend. The board of directors of the company in its filing to BSE has stated, "Pursuant to Regulation 42 of the Listing Regulations, the Company has fixed Friday, 15th July, 2022, as the Record Date for the purpose of determining the names of Members eligible for final dividend for the financial year ended 31st March, 2022. If the final dividend as recommended by the Board of Directors is approved at the AGM, such dividend will be paid/dispatched, subject to deduction of tax at source, after the AGM."

Ex-Dividend Date & Record Date: The ex-dividend date of the declared dividend is 14th July 2022 and the record date is 15th July 2022.

Piramal Enterprises Ltd Dividend History

The company has a good track record of dividend payout for the past 21 years. It has a strong track record of dividend declarations over the past five years, and it does so consistently. Sine 2002, the company has declared 23 dividends, out of which 2 are interim dividends and the rest 21 are final dividends. It has not declared any special dividend. The first dividend was declared on May 04, 2001. In 2021, the company has declared a final dividend of 1650%. There is a 1.99% dividend yield at the present share price of Rs 1655.70.

Piramal Enterprises Ltd Stock Outlook

On June 30, 2022, Piramal Enterprises' stock closed at Rs 1,655.70/share and opened at Rs 1,668/share. Its 52-week low is Rs 1,560.10/share recorded on 20 June 2022. While the 52-week high is Rs 3,014.95/share, recorded on 07 October 2021. The stock is trading is Rs 95.6 above its 52-week low level and Rs 1,359.25 below its 52-week high level.


Over the past 5 years, the stock has slid 40.8%. Past 1 month, its share price moved down nearly 6.84%. 25.85% in 3 months, 30.96% in 1 year and 14.94% in 3 years. Looking the data, shows the shares of the stock have fallen. As of June 30, 2022, its share price has fallen as mentioned. However, in past 1 week, its share has witnessed a positive return of 1.7%.

 

Piramal Enterprises FY22 Results

Piramal Enterprises reported a consolidated PAT of ~Rs 20b in FY22. The same stood at Rs 1.5b in 4QFY22 v/s a loss of INR5.1b in 4QFY21 (one-off from the DTA reversal). The reported PAT factors in Rs 8.2b in additional provisioning and interest reversal of ~Rs 2.2b (totalling Rs 10.4b) on three non-RE accounts, which were classified under Stage 2. Asset Under Management in Financial Services (FS) grew 33% YoY to ~Rs 652b. Retail loans grew over 4x to Rs 216b, with the share of Retail rising to 36% in FY22 from 12% in FY21.

Disclaimer

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