with a market valuation of 1,545.69 Crore, Styrenics Performance Materials Limited is a Small-Cap company operating in Specialty Chemical sector. Engineering Thermoplastics are manufactured, traded and sold by Styronics Performance Materials Limited in India and abroad. The board of directors of Styrenics Performance Materials announced a massive dividend of 800% for the fiscal year 2022-2023, due to which the company’s shares settled 5% on a positive note today.
“This is in continuation of our information letter dated 09 March 2023. Wherein we informed about the meeting of the Board of Directors on Thursday, 16th March 2023 to consider the declaration of interim dividend for the financial year 2022-23. , Accordingly, in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that at the meeting of the Board of Directors of the Company held today. Have considered and declared an interim dividend of Rs. 80/- (i.e. 800%) per equity share 10 each. As informed vide our dated letter. The record date for the purpose of determining the members eligible to receive the interim dividend is Friday, March 09, 2023. March 24, 2023,” Styrenics Performance Materials said in a stock exchange filing.
During Q3FY23, the company reported a net income of 559.64 cr as against 513.54 crore was recorded during the quarter ended Q3FY22. Company’s net expense reached 517.91 crore during the quarter ending December 2022 as compared to Rs. 438.69 crore was reported during the quarter ended December 2021. The company said that its EBIT was 41.73 Cr as compared to 41.73 Cr during Q3FY23 74.85 crore reported in the year-ago quarter. Net Profit Reached Of Styrenics Performance Materials 30.19 Cr during Q3FY23 as compared to Rs. 47.42 Cr reported in the same quarter of FY22. EPS of Styrenics Performance Materials reached as compared to 17.17 in Q3FY23 26.97 in Q3FY22.
Shares of Styrenix Performance Materials closed today on NSE 881.00 each level, up 5.21% from previous close 837.35. The stock recorded an overall volume average of 1,57,745 shares as compared to a 20-day volume average of 31,461 shares. In last 1 year, the stock has fallen 18% and on YTD basis, is up 9.75% in 2023 so far. The stock has touched a 52-week high. 1,156.50 (07-Apr-2022) and at a 52-week low 700.70 on (09-Feb-2023).
Styrenics Performance Materials has announced an equity dividend of 2970.00%, or 297 per share, for the financial year ending March 2022. The dividend yield at the current share price of Rs. 881 is 33.71%. As per Trendline data, Styrenics Performance Materials Ltd. has issued 24 dividends since May 10, 2001, and in the last 12 months, an equity dividend of Rs. 105.00 per share has been announced. Dividend yield at current share price of 881 is 11.91%.
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