This smallcap stock to turn ex-dividend today: This is how much investors will earn per share

There is only one stock that will turn ex-dividend on Wednesday. This would be small-cap stock Foseco India which is set to pay a whopping 400% dividend aggregating to ₹40 per equity share to its shareholders. Foseco is in the specialty chemicals business.

Ahead of the ex-dividend date, Foseco's share price closed at ₹2,642.40 apiece up by ₹125.25 or 4.98% on BSE. On Tuesday, the stock also hit a new 1-year high of ₹2,680 apiece.

The stock will turn ex-dividend from May 17th to adjust the dividend. The ex-dividend date is the day when the price of the equity shares of a company gets adjusted for the dividend payout.

As per the regulatory filing, of the total dividend, ₹25 per equity share (250%) is a final dividend on a paid-up equity share of ₹10/- each for the financial year ending 31 December 2022. While the remaining ₹15 (150%) per share is a one-time special dividend.

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The one-time special dividend is recommended on completion of 65 years of the company in the current year 2023.

Foseco follows a calendar year for reporting its financial performance. In the first quarter of 2023, the company's revenue was at ₹110.94 crore as against ₹98.74 crore in Q1 of 2022. PAT stood at ₹14.23 crore in Q1 2023 compared to ₹12.22 crore in Q1 2022.

In the fiscal year that ended on December 31, 2023, the revenue stood at ₹406.73 crore and net profit at ₹45.97 crore.

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Foseco is one of the leading companies in the supply of foundry consumables and solutions. The comprehensive range of foundry consumables and equipment for iron, steel, and non-ferrous foundries includes insulating and exothermic feeding systems, filters for liquid iron, steel and aluminium, direct pour technology, solidification simulation software, non-ferrous metal treatment and degassing systems, metal stream inoculation, advanced coatings, environmentally friendly binders, lining systems for ladles and furnaces as well as energy saving crucibles.

Foseco's share price has seen a significant upside in the past one year. On BSE, the stock's monthly gain is over 10%, while half-year performance is an upside of more than 35.4%. So far in 2023, the stock rallied by at least 38.4%. But in a year, the stock has skyrocketed by ₹1,177.20 or 80.2% on BSE.