Multibagger stock Veljan Denison Board Fixes Record Date To Pay Rs 3 Dividend Soon

Veljan Denison Ltd, a small cap business with a market worth of ₹309.42 crore, is the industry representative for consumer discretionary goods and services (CDGS). The business was established in 1965. The Veljan Denison Limited company produces a variety of products, including pumps, motors, valves, and specially designed power systems/manifold blocks.

The company has a number of production sites in and around Hyderabad, India where it has been designing and creating a large variety of pneumatic and hydraulic systems, products, and components for more than 50 years. In order to pay a dividend of Rs. 13 per equity share (or @130%), the business designated September 23, 2022, as the record date.

In May, the company had declared that “Pursuant to Regulation 30 of the SEBI(LODR) Regulations, 2015, this is to inform you that the Board at its meeting held today i.e, May 30, 2022, has recommended a dividend of Rs.13/- per equity share (i.e. @130%) having face value of Rs. 10/- each for the Financial Year ended on March 31, 2022. The above dividend, if declared by the members at the ensuing Annual General Meeting will be credited/ dispatched within 30 days from the date of declaration.”

According to section 91 of the Companies Act of 2013 and regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company informed stock exchanges of the following in September: 1. The Company’s 48th Annual General Meeting will take place on Friday, September 30, 2022, 2.

The 48th Annual General Meeting of the Company as well as the distribution of Dividend will take place from September 24 through September 30, 2022 (both days inclusive), during which time the Register of Members and Share Transfer Books will be closed. 3. The deadline for determining whether members are qualified for e-voting is September 23, 2022.

The shares of Veljan Denison Limited closed Friday’s BSE trading at ₹1375.20, a decrease of 4.10% from the previous close of ₹1433.95. The stock price has increased significantly from ₹23.53 on December 12th, 2002, to the current market price, recording a multibagger return and an all-time high of 5,807.35%.

Over the last 10 years, the stock has generated a multibagger return of 393.08%. The stock has increased 26.24% in value during the past year, and YTD in 2022, it has increased 7.07%. The stock had a 52-week high of ₹1,449.00 on September 13, 2022, and a 52-week low of 850.95 on October 29, 2021.

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