Asian Paints Sets Board Meeting for Dividend Decision: Key Record Date Revealed – What It Means for Shareholders

On Friday, 12th September, Asian Paints announced that it will hold a board meeting on 23rd October 2024 to discuss declaring a dividend. The company has also set a record date for this possible dividend.

Board Meeting and Financial Results

Asian Paints informed the stock exchange that its Board of Directors will meet on 23rd October to review the financial results for the quarter and half-year ending on 30th September 2024. During this meeting, they will also decide if an interim dividend will be declared for the financial year ending 31st March 2025. If a dividend is announced, the record date for determining who will receive the payment is set for 31st October 2024.

Trading Window Closure

The company also noted that its trading window will remain closed from 20th September to 25th October 2024. This closure is due to the upcoming financial results. Asian Paints plans to hold an investor conference on 23rd October at 5:30 p.m. IST to discuss the company’s performance, and details will be shared on their website.

Stock Performance

On 13th September, Asian Paints’ stock dropped by 2% in intra-day trading, reaching a low of ₹3,321.10. Despite this, the stock is only 3% below its all-time high of ₹3,422, which it hit in December 2023. It has also recovered by more than 24% from its 52-week low of ₹2,671 in May 2024.

Although the stock has only risen slightly over the past year (around 3%), it has faced a 2% drop in 2024 so far. However, the stock experienced a strong seven-month rally from March to September, increasing by almost 18% during that period. Earlier in the year, the stock saw declines of 13% in January and 4.6% in February but has managed to recover in the second half of 2024.