Dividend Champion Small-Cap stock: This consistent dividend paying stock has announced yet another massive dividend; know the record date!
The company has declared 22 dividends since August 28, 2002.
Sukhjit Starch & Chemicals Ltd, incorporated in 1943, is an agro-processing industry manufacturing starch & its derivatives i.e Liquid Glucose, Sorbitol, Modified Starches and by-products.
On Monday, the stock surged more than 5 per cent and on a provisional basis it settled around Rs 449, the stock outperformed the market hands down as the frontline gauge ended the day on a flat note.
The stocks' outperformance could be attributed as the Board of Directors, in their meeting held on Monday, approved payment of an interim dividend of Rs 8 per equity share of face value of Rs 10 each i.e. 80 per cent, for the financial year 2022-23.
Record Date for payment of the said Interim Dividend has been fixed for December 13 (Tuesday). Interestingly, the stock has been awarded as dividend champion Small-Cap stock as the company has declared 22 dividends since August 28, 2002.
In the past 12 months, it has declared an equity dividend amounting to Rs 10 per share. At the current share price of Rs 449, this results in a dividend yield of around 2.2 per cent.
Company’s intrinsic value stands around Rs 528 and it trades below its intrinsic value. The company has delivered good profit growth of 32.1 per cent CAGR over the last 5 years. Company has been maintaining a healthy pay-out of 17.2 per cent. Company’s working capital requirements have reduced from 51.8 days to 28.1 days.