Rs 30 DIVIDEND per share: Microcap stock declares cash reward - Details
rs 30 dividend per share: microcap stock declares cash reward – details | rane brake lining
Rs 30 DIVIDEND: An auto ancillary company has declared a dividend of Rs 30 per equity share for its shareholders in the fourth quarter of fiscal year 2024. The dividend was announced along with the company’s Q4 FY24 results. The microcap company had paid dividend of Rs 25 per share in July 2023.
“This is to inform that the Board of Directors at their meeting held today, have inter alia, recommended a dividend of Rs. 30 /- per equity share on 77,29,871 equity shares of Rs.10/- each fully paid up, for the financial year 2023-24, subject to approval of members at the ensuing 19th AGM of the Company,” said the company in its stock exchange filing dated May 3.
The company in discussion is Rane Brake Lining, a manufacturer of asbestos-free brake linings, disc pads and clutch facings.
The upcoming dividend of Rs 30, if approved by shareholders, will be the company’s highest-ever in its history. Interestingly, General Insurance Corporation of India is among its shareholders, having 3.55 per cent stakes in the company.
Rane Brake Lining Share Price Today
Shares of Rane Brake skyrocketed as soon as it posted its fourth quarterly results during the market hours. It closed the session at 20 per cent upper circuit at Rs 1,021.40 apiece on NSE, which is a record high for the stock. During the session, it touched an intraday low of Rs 854.40. It has a 52-week range of Rs 642.95 and Rs 1,021.40.
The stock has so far rallied 18.37 per cent in 2024, and 45.2 per cent in the past one year, as per BSE Analytics.
Rane Brake Lining Dividend Payment Date
Rane Brake Lining has also fixed the payment date for its upcoming dividend as July 31.
“The dividend, if declared by the shareholders will be paid/dispatched on July 31, 2024 (Wednesday) to the eligible shareholders.,” said the company.
Rane Brake Lining Dividend Record Date
Rane Brake Lining has not yet fixed any record date to determine the eligibility of shareholders for the payment of its upcoming dividend.
The record date is the last date on which shareholders are eligible to receive a dividend or distribution. It’s established by the company’s board.
Rane Brake Lining Q4 Results 2024
- Rane Brake’s Q4 saw a PAT of Rs 15.39 crore, up 28 per cent from Rs 12.02 cr YoY.
- Revenue from operations stood at Rs 186 cr, 12.72 per cent up from Rs 165 cr YoY.
Rane Brake Lining Company Profile
Rane Brake Lining, a Rane Group company, was established in 1964 in technical and financial collaboration with Nisshinbo Industries, Japan for manufacturing asbestos-free Brake Linings, Disc Pads and Clutch Facings, having application in every segment of the automobile industry. The company exports to more than 15 countries.
Rane group was established in the year 1929 as a trading house and serves a variety of industry segments: Passenger Cars, Multi Utility Vehicles, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Farm Tractors, Three-wheelers, Two-wheelers and Stationary Engines through one of its holding company & 7 manufacturing companies.
The complete spectrums of products from Rane Brake Lining are manufactured in four plants located at Chennai, Hyderabad, Puducherry and Trichy. The plant at Puducherry is an exclusive Asbestos Free Facility.
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