ITC-BACKED DIVIDEND STOCK: RS 2.50 PER SHARE PAYOUT ANNOUNCED - DETAILS
ITC-Backed DIVIDEND Stock: Gujarat Hotels, a company backed by ITC, has announced to pay dividend to its shareholders. The company has declared a whopping 25 per cent dividend payout on each stock to its investors.
A dividend is a cash reward that a company pays to its shareholders for their investment in the business. It is usually paid from earnings of the company.
Gujarat Hotels Dividend 2024
A dividend is always calculated and paid on the face value of each stock. The current face value of each stock of Gujarat Hotels is Rs 10. Accordingly, the 25 per cent dividend translates into a payout of Rs 2.50 on each stock. This is the final dividend announced by Gujarat Hotels for the financial year 2023-24.
"Recommended, subject to declaration of the same by the members, Final Dividend of Rs 2.50 per equity share of Rs 10 each for the financial year ended 31st March, 2024," the company said in a regulatory filing.
Gujarat Hotels Dividend 2024 Record Date
Gujarat Hotels is yet to announce the record date for determining the eligibility of shareholders participation in the next dividend payment or upcoming corporate action. The company said that record date will be announced in the due course.
"...record date for payment of dividend and the date of payment of such dividend will be advised in due course," the company said.
Gujarat Hotels is a microcap stock, having a market cap of Rs 79.86 crore. ITC is the promoter of Gujarat Hotels. According to data rooted from trendlyne, ITC has 45.8 per cent stake in the company.
Gujarat Hotels Dividend History
According to BSE website, Gujarat Hotels had in 2023 and 2022 paid a dividend of Rs 2 in each year to its investors. In 2021, the company had rewarded its investors by paying a cash reward of Rs 1.80 on each stock. Back in 2020, Gujarat Hotels had distributed a dividend of Rs 2.50 on each stock to its investors.
Gujarat Hotels Share price History
According to BSE analytics, Gujarat Hotels shares have delivered a positive return of 35 per cent in the last 6 months. In a year, the counter has climbed 40 per cent. Gujarat Hotels shares have delivered a multibagger return of 106 per cent to its investors in the last 3 years.
Gujarat Hotels shares have a 52-week range of Rs 238.90 - Rs 139.85 on BSE.
RISE with India - FOLLOW ET NOW WhatsApp channel! https://whatsapp.com/channel/0029Va7OSzxA2pL8ezY1aw1K ET NOW WhatsApp channel gives you all Stock Market Details, Money Making Ideas, IPO News, Mutual Funds SIP News, Income Tax and other news right on your mobile screen!