Industrial stocks set record date for 450% dividend: check key takeaways

With a market capitalization of 24,773 crores, Thermax Ltd. is a large-cap industrial company. The company offers environmentally friendly energy and environmental solutions, and its product line also includes specialty chemicals, water and waste management systems, and heating and cooling products. In addition to turnkey power plants, industrial and municipal wastewater treatment facilities, waste heat recovery systems and air pollution control projects, the company also develops huge boilers for the production of steam and electricity. The organization serves its customers through a broad sales and service presence dispersed throughout Asia, Southeast Asia, the Middle East, Africa, Europe and the Americas. The company operates internationally through 29 international offices and 14 production sites, including 10 in India and 4 overseas. For the purposes of a 450% dividend, the company’s board of directors has set July 22 as the record date.

On May 20, 2022, the board had advised the exchange filings that “We further wish to inform you that the board has recommended a dividend of Rs. 9/-per capital share of Rs. 2/ – each (450%), for the 2021-22 financial year, subject to shareholder approval at the following 41st Annual General Meeting. The record date for the dividend payment will be communicated separately.”

On July 8, 2022, the company notified the stock exchanges that “In accordance with Regulation 42 of the Securities and Exchange Board of India (Listing and Disclosure Requirements) Regulations 2015, the Company has fixed Friday, July 22, 2022 as the” record Date’ for the purposes of determining the names of the members eligible for the dividend for the financial year ending March 31, 2022. If the dividend as recommended by the Board of Directors is approved at the Annual General Meeting, the payment of this dividend, subject to withholding tax deduction, will be made on Monday 8 August 2022 as follows: To all beneficial owners in respect of shares held in dematerialized form according to data which may be made available by National Securities Depository Limited and Central Depository Services (India) Limited from close of business on Friday July 22, 2022; To all Members for shares held in physical form after taking into account valid requests for transmission or transposition lodged with the Company at the close of business hours on Friday July 22, 2022.

The stock fell 1.39% from its previous price of 2099.10 and set to 2,069.95 on Friday. The stock has gained 44.79% over the past year and is up 14.10% since the start of 2022.

To subscribe to Mint Bulletins

* Enter a valid email

* Thank you for subscribing to our newsletter.

About Donald Martin

Check Also

Private equity has been active in manufacturing for years | Local company

Private equity has been active in manufacturing for years, but has become more visible as …