FMCG stock to pay ₹8 per share dividend, check revised record date

Market


With a market worth of Rs. 715.41 Cr., Sukhjit Starch Chemicals Ltd. is a small-cap business that operates in the Fast Moving Consumer Goods (FMCG) industry. With 600,000 TPA of corn grind manufactured across four manufacturing facilities in India, Sukhjit is a market leader. In addition, the company produces a variety of By-Products and Modified Starches, Dextrines, Liquid Glucose, HMS, Malto-Dextrin, Mono-Hydrate Dextrose, Anyhydrose Dextrose, and Sorbitol-70% Solution for a wide range of Industries.

On Monday, the company had said in a stock exchange filing that “The Board of Directors have, in their meeting held today, approved payment of an Interim Dividend of Rs. 8/- (Rs. Eight only) per equity share of face value of Rs. 10/- each (i.e. 80 %), for the financial year 2022-23.”

The company said today in a stock exchange filing that “concerning the fixation of Record date for payment of Interim Dividend declared in the Board Meeting date 05/12/2022, the Record Date is revised to 15/12/2022 (i.e. Thursday) from 13/12/2022 i.e. Tuesday). The said Interim Dividend shall be paid within a period of 30 days to those shareholders of the Company whose names appear in the records of the Company, as on the said record date.”

The shares of Sukhjit Starch Chemicals Ltd closed today at 454.05 apiece, down by 0.68% from the previous close of 457.15. The stock recorded a total volume of 4,608 shares compared to the 20-Day average volume of 5,685 shares. In the last 1 year the stock has gained 45.47% and on a YTD basis, the stock has gained 5.19% so far in 2022. The stock had touched a 52-week-high of 467.95 on (06-December-2022) and a 52-week-low of 365.55 on (22-November-2022), indicating that at the current market price the stock is trading 24.21% above the 1-year low. 

For the quarter ended September 2022 or Q2FY23, the company recorded a promoter stake of 66.16% and a public shareholding of 33.84%. For the period ending 2022-03, the company has reported a dividend yield of 2.18%. In Q2FY23, Sukhjit Starch Chemicals reported an EPS of 54.06, PE ratio of 8.47, book value per share of 286.90 and a PB ratio of 1.60, as per the data of StockEdge.


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