BCL Industries shares in focus today as the company has announced twin corporate action in its Q4 results. According to a regulatory filing by the Fast-Moving Consumer Goods (FMCG) sector company, the board has approved a dividend and sub-division of shares.
It announced that the board has recommended an equity dividend of Rs 5 per share of face value of Rs 10 each i.e. @ 50% for the financial year ended March 31, 2023.
The filing added that the board has approved the splitting of the face value of the shares from Rs 10 to Rs 1 per share, subject to approval of the shareholders and other statutory approvals. It means that every share of the company with a face value of Rs 10 each will be split into 10 equity shares with a face value of Re 1 each.
A dividend is paid by a company to its shareholders as a reward for their investment in the business. On the other hand, the rationale behind the split to increase the liquidity and make the shares price affordable to widen the shareholders base. Once the splits will take effect, the market price of each shares will be adjusted in the split ration.
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Meanwhile, the company's consolidated net profit in Q4 stood at Rs 24.23 crore with revenue from operations at Rs 456.96 crore. For the entire year 2022-23, its net profit stood at Rs 67.58 crore while revenue from operations at Rs 1,819.92 crore .
BCL Industries shares have turned multibagger in the last two years, delivering a return of 12 per cent. Its shares are in focus as the company announced twin corporate action in its Q4 results. According to a regulatory filing by the Fast-Moving Consumer Goods (FMCG) sector company, the board has approved a dividend and sub-division of shares.
Its shares have gained about 61 per cent in the year 2023 so far, while 45 per cent in the last one year. The stock has delivered a return of more than 900 per cent in the last three years. The company has a market cap of Rs 1,254.83 crore.
According to an exchange filing, the board has recommended an equity dividend of Rs 5 per share of face value of Rs 10 each i.e. @ 50% for the financial year ended March 31, 2023.
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