Mid-cap stocks will soon pay 15 dividend per share, FIIs increase stake in Q3

The company said in a stock application that its board of directors has recommended paying a dividend of INR 15.00 (150%) per share on 3,48,07,844 shares (par value INR 10 each fully paid) for the financial year ended December 31, 2022 and the same shall be payable subject to shareholder approval at the subsequent General Meeting of the Company.”

The annual general meeting of the company will be held on Thursday 11 May 2023 and the register of members and share transfer books of the company will remain closed from 30 April 2023 through 11 May 2023 (both days inclusive) for the purpose of the annual general meeting and payment of dividends, according to KSB Ltd. According to the available data on BSE, KSB has set 11/05/2023 as record date and 28 April 2023 as ex-date for this purpose of dividend.

For the fiscal year ending December 2022, KSB announced an equity dividend of 150.00% at a par value of 10, or 15 per share. This generates a dividend yield at the current share price of Rs. 2242.85 of 0.67%. The company has a solid track record of declaring dividends over the past five years. According to data from Trendlyne, KSB Ltd. since December 12, 2000, 37 dividends have been paid. KSB Ltd. declared a stock dividend worth 12.50 per share over the previous 12 months. This generates a dividend yield at the current share price 2242.85 of 0.56%.

On Thursday, shares of KSB Ltd closed on the BSE 2242.85 each, an increase of 0.94% over the previous close of 2221.95. The stock reached a 52-week high from 2,278.95 on (10/04/2023) and a 52-week low of 1,183.65 on (12/05/2022). During Q3FY23, the company recorded a promoter interest of 66.69%, a FIIs interest of 3.23%, a DIIs interest of 10.85% and a public interest of 19.21%. According to Trendlyne data, the promoters’ stake in KSB remains unchanged at 66.69% in the quarter of December 2022, the stake of FII/FPI grew from 3.17% in the quarter of September 2022 to 3.23 % in the December 2022 quarter, the number of FII/FPI investors plummeted from 105 to 104, the importance of mutual funds fell from 8.08% to 8.05% and the importance of institutional investors grew from 13.94% in Q2FY23 to 14.08% in Q3FY23.