As the board of meeting of Balmer Lawrie & Co nears, its share price is flying off the roof with a new 52-week high on Tuesday. Balmer is a small-cap and Miniratna PSU stock under the oil and gas segment. The reason why Balmer’s upcoming board meeting is much-awaited is because the oil giant will likely announce a power-pack reward. In total four rewards are expected namely dividend, bonus issue, stock split, and buybackAhmedabad Investment. It’s like Christmas is near for investors in this stock.
On May 14, Balmer share price touched a new 52-week high of Rs 299.90 apiece, before ending at Rs 296.35 apiece up by 3.04% with a market cap of Rs 5,067.70 crore.
In six months, the stock has gained by over 94%Udabur Stock. In a year, the stock jumped by 143.16%. Meanwhile, in 5-years, the stock has skyrocketed by 171.41%.
While its all-time gain is a whopping 9,257.81%. The stock was merely at Rs 3.20 on January 1, 1999.
The company’s board of directors meeting is scheduled on May 28, 2024, for considering the following:
1. Consider the Audited Financial Results (both Standalone and Consolidated) of the Company for the Fourth Quarter and Financial Year ended on 31st March 2024 (subject to prior review by the Audit Committee of the Company).
2. Consider the recommendation of dividend on the Equity Shares of the Company for the Financial Year ended on 3″ March 2024, if any, which subsequently upon declaration by the Shareholders at the ensuing Annual General Meeting would be paid to the Shareholders of the Company within 30 days from the date of such declaration.
3. Review of the compliance of Guidelines on Capital Restructuring of Central Public Sector Enterprises (CPSEs) by the Ministry of Finance, Department of Investment & Public Asset Management (DIP AM), in the course of which, analysis/deliberation regarding Buy back of shares, issuance of Bonus Shares and splitting of shares of the Company may also take place.
The upcoming dividend announcement will be the first dividend of 2024 and FY24. Currently, it has a dividend yield of 2.53%.
Last year, the company delivered as high as Rs 7.50 dividend per share for FY23.
As per Trendlyne data, the company has delivered 23 dividends since September 2001.New Delhi Investment
Balmer has a long history of rewarding its investors with free additional shares. The last bonus issue was of a 1:2 ratio in December 2019, which was followed by 3:1 bonus shares in December 2016, and 3:4 bonus shares in May 2013.
The company has never split in its history. And if a stock split is announced on May 28, then it will be Balmer’s first-ever split.
Founded by two Scotsmen, Stephen George Balmer and Alexander Lawrie, in Kolkata, Balmer Lawrie & Co. LtdGuoabong Investment. started its corporate journey as a Partnership Firm on 1st February 1867. Traversing the 157 years gone by, today Balmer Lawrie is a Miniratna – I Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, GovtLucknow Stock. of India.
Jinnai Wealth Management