Akzo Nobel India hits record high on dividend bounty
The board recommends a total dividend of 800% or Rs 80 per share including special dividend for FY12-13.
Akzo Nobel India has rallied 9% to Rs 1,125 after its board recommends a total dividend of 800% or Rs 80 per share including special dividend for the financial year 2012-13.
The board of directors of paint maker at its meeting held on May 20, 2013, has recommended a dividend of Rs 20 per equity share plus a special dividend of Rs 60 per equity share on face value of Rs 10 per share.
Meanwhile, the company has reported a net profit of Rs 62.50 crore for the quarter ended March 31, 2013 against Rs 78.24 crore in the corresponding period last year, Akzo Nobel India said in a statement.
"The absolute financial results of Q4 FY2012-13 are not comparable with the corresponding quarter of the previous year," the company said.
The stock opened at Rs 1,080 and hit a record high of Rs 1,139 on NSE. A combined 24,476 shares changed hands on the counter in early morning trades on NSE and BSE.
The board of directors of paint maker at its meeting held on May 20, 2013, has recommended a dividend of Rs 20 per equity share plus a special dividend of Rs 60 per equity share on face value of Rs 10 per share.
Meanwhile, the company has reported a net profit of Rs 62.50 crore for the quarter ended March 31, 2013 against Rs 78.24 crore in the corresponding period last year, Akzo Nobel India said in a statement.
"The absolute financial results of Q4 FY2012-13 are not comparable with the corresponding quarter of the previous year," the company said.
The stock opened at Rs 1,080 and hit a record high of Rs 1,139 on NSE. A combined 24,476 shares changed hands on the counter in early morning trades on NSE and BSE.