In the automobile industry, Banco Products (India) is a small cap company with a market valuation of Rs. 1,826.59 crore. The firm is a pioneer in the field of engine cooling and sealing systems for both automotive and industrial applications. For the financial year ended March 31, 2022, the Board of Directors has recommended a dividend of Rs. 20.00 (1000% on face value) 2) per equity share, subject to the approval of the shareholder in the ensuing Annual General Meeting. The stock will trade ex-dividend on September 6, 2022, and the company has set September 22, 2022 as the record date for determining shareholders’ eligibility.
The company, in a regulatory filing, said that “The Register of Members and Share Transfer Books of the Company shall remain closed from September 8, 2022 to September 22, 2022 (both days inclusive) for the purpose of ascertaining the eligibility for payment of dividend. Annually. Dividend on its declaration in the general meeting shall be paid on or after 12th October, 2022 at the rate of Rs.20.00 per equity share of the Company, whose names appear in the Register of Members of the Company on the book closure date.
The company in a stock exchange filing further said that “We would like to inform that the 61st Annual General Meeting (AGM) of the Company is scheduled to be held on Thursday, 22nd September, 2022 at 10.30 am (1ST) via video conference. (VC)/Other Audio Visual Means (OAVM), as per relevant circulars issued by Ministry of Corporate Affairs (MCA) and Securities Exchange Board of India (SEBI).”
Banco Products Dividend History
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Shares of Banco Products (India) Ltd on NSE today closed at Rs. 257.65 a piece, up 4.12% from previous close of Rs. 247.45. at current market price, dividend of 20 per share results in a dividend yield of 7.76%. In today’s trade, the stock made 52-week high of Rs. 265.00 per share, and the stock had touched a 52-week low 118.10 on 12th May 2022 which indicates that at the current share price, the stock is trading up 118.16% from the low.
share price climbed 29.65 represents a multibagger return and an all-time high of 768.97% to the level it is now on December 22, 2006. The stock has gained 19.48% during the last five years but has given a multibagger return of 172.97% in the last three years. The stock is up 30.82% over the past year, and on a year-over-year basis, it has climbed 45.65% so far in 2022. The stock has gained 74.92% during the last six months, and has generated a multibagger return of 106.83 per cent over the past three months.
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