Multibagger Stock in Focus This Week: Record Date For 150% Dividend


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By Malvika Gurung — The leading petroleum speciality products manufacturer and exporter Panama Petrochem (NS:) will remain in focus ahead, as its shares will turn ex-dividend in the week starting Nov 21. 

The company informed the domestic exchanges in a filing last week that its board of directors approved an interim dividend of 150% at its meeting while announcing its earnings results for the quarter ending September. 

The small-cap company’s board of directors declared an interim dividend of Rs 3/share of Rs 2 apiece (150%) at the board meeting held on Nov 14. 

The record date for the corporate action has been set on Thursday, November 24.

Those shareholders whose names appear on the Register of Members of the company or in the records as beneficial owners of the shares as on the fixed record date will receive the dividend benefit.

Panama Petrochem will make the interim dividend payment to eligible equity shareholders on Dec 6, 2022, as per the exchange filing.

The small-cap stock is a multibagger, reporting an up to 400% return in the past three years.

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