Trading 85% below from 52-week-high, this stock fixes record date for dividend

Market


Greenlam Industries Ltd is a small-cap company in the building material category with a market cap of 3,603 Cr. Greenlam is the country’s largest laminate player, with an 18 per cent share of the organised domestic market. Greenlam Industries is one of the top three laminate producers in the world and Asia, with a production capacity of 15.62 million sheets per year with the largest decorative veneer capacity of 4.2 million square metres.

The board of directors of Greenlam Industries has recommended a final dividend of Rs. 1.20/- per share of Rs. 1 each for Q4FY22, subject to shareholder approval at the Company’s next Annual General Meeting. For the purpose of dividend the company on 17th June 2022 informed BSE by saying that “Pursuant to Regulation 42 and 60 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, applicable provisions of Companies Act, 2013 read with the rules made therein, we would like to inform that the record date is fixed as Friday, July 08, 2022 for determining the eligible members of the Company for payment of final dividend on equity shares of the Company for the financial year 2021-22, if approved by the Members at the ensuing Annual General Meeting (“AGM”) of the Company to be held on Wednesday, August 10, 2022 through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”).”

The stock has returned 26.86 per cent over the previous year, but it has declined 18.38 per cent year-to-date (YTD) in 2022. The stock closed Friday’s trading session at 295.50, down 0.87 per cent from its previous close of 298.10. Greenlam Industries’ shares reached a 52-week high of 1,997.40 on 14th December 2021 and a 52-week low of 279.80 on 25th May 2022, showing that the stock is presently trading at an 85 per cent discount to its 52-week high and above 5.62 per cent from its 52-week low. Greenlam Industries is now trading below the 5 days, 20-day, 50 days, 100-day, and 200-day moving averages based on the last traded price.

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