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Stock Report
Mold-Tek Packaging Limited declares interim dividend of Rs. 2
Posted On : 2024-04-03 14:20:13( TIMEZONE : IST )
The Board of Directors ("Board") of Mold-Tek Packaging Limited at its meeting held today i.e. 3rd April, 2024, have, declared an Interim Equity Dividend for the Financial Year 2023-24 @ 40% i.e. ₹ 2.00/- per equity share on face value of ₹ 5.00/- per equity share.
During the financial year 2022-23 and 2023-24 the Company had actualized significant growth plans by focusing on high-value products through both product & geographical expansion, improving the product range and venturing into new segments like - restaurants, sweets, cashews, fertilizers, seeds etc. Further, the Company introduced New Pails for DEF market (Diesel Exhaust Fluid), diversified into the new domain of Pharma Packaging and has setup world class plant at Sultanpur for Pharma Packaging and Food & FMCG. Company has also set-up plants at Panipat and Cheyyar to cater to the packaging requirement of M/s. Grasim Industries (Aditya Birla Group-Paints Division) and another plant is coming up at Mahad. Thus, in total there was an overall approximate capex of ₹ 280 Crores during F.Y-23 & F.Y-24.
In similar lines, the Company envisages a significant overall capex during ensuing financial year(s) for notable growth and expansions, specially in Food & FMCG and Pharma Packaging and thus has declared an Interim Equity Dividend for the Financial Year 2023-24 @ 40% i.e. ₹ 2.00/- per equity share on face value of ₹ 5.00/- per equity share to strike an optimum balance between shareholder' interest and preserve retained earnings of the Company to fund anticipated growth.
The record date for reckoning the list of equity shareholders who will be entitled to receive the said interim equity dividend shall be Friday, 12th April, 2024. The interim dividend will be paid to such shareholders on or before Thursday, 2nd May, 2024.
Shares of Mold-Tek Packaging Limited was last trading in BSE at Rs. 815.50 as compared to the previous close of Rs. 782.60. The total number of shares traded during the day was 11907 in over 1026 trades.
The stock hit an intraday high of Rs. 826.30 and intraday low of 781.50. The net turnover during the day was Rs. 9671473.00.
