Indo National Board Fixes Record Date For 100% Dividend

Indo National Ltd. is a small-cap business in the Fast Moving Consumer Goods (FMCG) sector with a market worth of Rs. 256.24 crore. The business produces Nippo batteries, which are now well-known in India. Existing shareholders and prospective buyers should be informed that the company has chosen September 20, 2022, as the record date for the purpose of paying 100% dividend.

A dividend of Rs. 5 per share (100%) for the fiscal year ending March 31, 2022, was proposed by the board, the business stated in a regulatory filing in May.

The company announced to stock exchanges last month that “The 49th Annual General Meeting of the Company is scheduled to be held on Tuesday, September 27, 2022, through Video Conferencing (“VC”) / other Audio Visual means (“OVAM”) and the Register of Members & Share Transfer Books of the Company will remain closed from Wednesday, September 21, 2022, to Tuesday, September 27, 2022 (both days inclusive), for the purpose of Payment of Dividend & Annual General Meeting.”

The Companies Act, 2013, and rules issued thereunder, along with SEBI (LODR) Regulations 2015, have been used by the Company to set Tuesday, September 20, 2022, as the deadline for recording the Shareholders’ eligibility to vote electronically at the 49th Annual General Meeting. Therefore, the same deadline of September 20, 2022 would record the right of Shareholders who do not cast their vote electronically to do so at the 49th Annual General Meeting of the Company, which will be held on September 27, 2022.

The E-Voting period will begin on September 24, 2022, at 9:00 a.m., and finish on September 26, 2022, at 5:00 p.m.

The shares of Indo National Ltd. ended Friday’s trading session on the NSE at ₹341.50 per share, down 3.16 percent from the previous close of ₹352.65. The stock has lost 33.55% over the past year, and on a year-to-date basis, it has lost 32.07% in 2022. The stock’s 52-week high on the NSE was ₹550.00 on October 14, 2021, and its 52-week low was ₹288.15 on June 21, 2022, meaning that it is now trading 37.90% below the high and 18.51% above the low.