Payout Of 110% In FY23: Board To Examine Dividend Tomorrow, Set Record Date; Purchase?
The market capitalization of small-cap metal company Kirloskar Ferrous Industries was Rs 7,751.17 crore at the end of Tuesday’s trading session. One of the top companies in the pig iron and iron casting industries is Kirloskar Ferrous Industries Limited. The company’s board of directors will meet on Thursday, March 7, 2024, to discuss a number of issues, including the dividend—if any—for the fiscal year 2023–2024, which puts the stock front and center.
News from Kirloskar Ferrous Industries: “In accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to notify you that the company’s Board of Directors will meet on Thursday, March 7, 2024, to discuss a number of topics, including the dividend, if any, for the fiscal year 2023-2024. In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and contingent upon the Board of Directors of the Company declaring the interim dividend, Saturday, March 16, 2024, has been designated as the record date for determining the list of members eligible to receive the dividend.
As per the ‘Code of Conduct for regulating, monitoring, and reporting of trading by designated persons and immediate relatives of designated persons of Kirloskar Ferrous Industries Limited’ adopted pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, Kirloskar Ferrous Industries further announced in a regulatory filing on Monday that the trading window for dealing in the company’s securities will remain closed from March 5 to March 10, 2024 (both days inclusive).
Dividend Yield of Kirloskar Ferrous Industries
For the year ending in March 2023, Kirloskar Ferrous Industries has declared an equity dividend of 110.00% at a face value of Rs 5, or Rs 5.5 per share. At the present share price of Rs. 556.55, the dividend yield amounts to 0.98 percent. The company has a solid dividend track record and has paid out dividends on a regular basis for the last five years. Since September 4, 2002, Kirloskar Ferrous Industries Ltd. has paid out 22 dividends, according to Trendlyne records.
Target Price for Kirloskar Ferrous Industries Shares
With significant resistance near 487, Kirloskar Ferrous Industries is showing signs of mild bearishness on the daily charts. A daily closure above this resistance may result in 510 as the goal. The next support level, according to AR Ramachandran of Tips2trades, is 427.
