This stock is going to pay a dividend of ₹30 soon, takes the yield to 7.14%

The financial sector-focused Balmer Lawrie Investments Ltd. is a small cap company with a market worth of Rs. 931.40 crore. Balmer Lawrie Investments Limited is a non-banking financial company and the Ministry of Petroleum & Natural Gas, Government of India, currently has administrative jurisdiction for Balmer Lawrie Investments Limited. At its meeting held on May 30, 2022, the Board of Directors recommended a dividend of Rs. 30 per equity share for the fiscal year that ended on March 31, 2022. The corporation has announced the record date for the same reason.

“Further to our intimation dated 13th May, 2022 and pursuant to Regulation 30(2) and 30(6) read with of Para A of Part A of Schedule III of the Listing Regulations, this is to hereby inform that the Board of Directors at its Meeting dated 30th May, 2022 has recommended a Dividend of Rs.30 (Rupees Thirty only) per Equity Share on 2,21,97,269 Equity Shares of the Company for the Financial Year ended 31st March, 2022. The said dividend if declared by the shareholders at the ensuing Annual General Meeting shall be paid within 30 days from the date of such declaration,” the company has said in a regulatory filing.

The Board of Directors also said in a stock exchange filing that “Upon declaration by the members, dividend for the Financial Year 2021-22 shall be paid within 30 days of the 21st AGM to those shareholders, who are holding shares of the Company as on Tuesday, 20th September, 2022 (end of day).”

Taking the dividend amount of ₹30 per share, this takes to a dividend yield of 7.14% at the current market price of ₹419.60. On Friday, the shares of Balmer Lawrie Investments Ltd closed at ₹419.60 apiece, down by 0.36% from the previous close of ₹421.10 per share. In the last 1 year, the stock has fallen 10.46% and on a YTD basis, the stock has gained 5.35% so far in 2022. On the BSE, the stock had touched a 52-week-high of ₹487.00 on (13/09/2021) and a 52-week-low of ₹357.10 on (20/06/2022) which implies that at the current market price the stock is trading 13.83% below the high and 17.50% above the low.