- Fineotex Chemical, a prominent player in the chemical industry, has announced a 20 percent final dividend for its shareholders for the financial year 2023-24.
- This marks the fourth consecutive year that Fineotex Chemical has declared a final dividend, showcasing its commitment to rewarding its shareholders.
- “In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has recommended a final dividend of Rs. 0.40 per equity share,” the company stated in its recent announcement.
Fineotex Chemical declares a 20% final dividend for FY24, marking the fourth consecutive year of rewarding shareholders.
Fineotex Chemical Dividend Details
The multibagger chemical stock informed the stock market exchanges about the decision, stating, “In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that the Board has recommended a final dividend of Rs. 0.40/- per equity share (20% of face value of Rs. 2/- each) which amounts to Rs. 4,46,93,995.60/- (Rupees Four Crore Forty-Six Lacs Ninety Three Thousand Nine Hundred and Ninety Five Sixty Paise only) subject to the approval of members at the ensuing Annual General Meeting.”
Fineotex Chemical’s Dividend History
As per the information on the official website of BSE, this is the fourth straight year when the dividend stock has declared its final dividend. The multibagger stock traded ‘ex-dividend’ on 8 July 2021 for finalizing the list of eligible shareholders for payment of ₹0.30 per share final dividend. On 28 July 2022, the dividend stock traded ex-dividend for payment of ₹0.40 per share final dividend to the eligible shareholders. Last year, on 8 September 2023, Fineotex Chemical shares traded ex-dividend to ascertain eligible shareholders for payment of ₹0.80 per share final dividend.
Fineotex Chemical Q4 Results
Fineotex Chemical’s Q4 results have shown a promising increase in revenue. Revenue from Operations for the quarter rose to ₹153.01 crore from nearly ₹137.69 crore, marking an impressive growth of 11.13 percent. This positive financial performance is a testament to the company’s strong position in the market and its ability to deliver consistent returns to its shareholders.
The Profit after tax (PAT) for the quarter ended has increased to around ₹30.48 crore from around ₹26 crore, i.e., a growth of 17.21 percent.
Multibagger Stock
Fineotex Chemical’s share price rose from around ₹15 to ₹365 per share in the post-COVID period, a period marked by the company’s resilience and adaptability to the changing market conditions. In these nearly four years, the chemical stock has delivered a whopping 850 percent return to its positional shareholders, a testament to its strong fundamentals and the trust of its investors.
Conclusion
Fineotex Chemical’s consistent dividend payouts and robust financial performance highlight its strong market position and commitment to shareholder value. As the company continues to grow and adapt to market conditions, investors can look forward to potential future returns. However, it is always advisable to consult with certified financial experts before making any investment decisions.
