Akzo Nobel India slumps ex-dividend

Akzo Nobel India tumbled 8.83% to Rs 1,038.95 at 10:36 IST on BSE after the stock turned ex-dividend today, 30 July 2014, for total dividend of Rs 75 per share.

Meanwhile, the BSE Sensex was down 27.03 points, or 0.1%, to 25,964.19

On BSE, so far 3,959 shares were traded in the counter, compared with an average volume of 5,459 shares in the past one quarter.

The stock hit a high of Rs 1,060 and a low of Rs 1,037.05 so far during the day. The stock hit a 52-week high of Rs 1,168 on Monday, 28 July 2014. The stock hit a 52-week low of Rs 750 on 30 August 2013.

The stock had outperformed the market over the past one month till 28 July 2014, rising 5.97% compared with 3.55% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 31.12% as against Sensex's 14.84% rise.

The mid-cap paints and coatings maker has an equity capital of Rs 46.66 crore. Face value per share is Rs 10.

Akzo Nobel India turned ex-dividend today, 30 July 2014, for total dividend of Rs 75 per share for the year ended 31 March 2014. On 16 May 2014, Akzo Nobel India had declared dividend of Rs 15 per share and special dividend of Rs 60 per share for the year ended 31 March 2014.

Before turning ex-dividend, the stock offered a dividend yield of 6.58% based on the closing price of Rs 1,139.60 on Monday, 28 July 2014.

Akzo Nobel India's net profit declined 12.5% to Rs 54.67 crore on 14.6% rise in net sales to Rs 601.28 crore in Q4 March 2014 over Q4 March 2013.

Akzo Nobel India manufactures and markets a wide range of coatings covering decorative, powder, marine & protective, automotive & aerospace, coil & specialty plastics. Dulux is its most popular brand of its decorative coatings business while the performance coatings business provides solutions to many industries and sectors including automotive, consumer electronics, power, aviation, shipping and leisure craft, construction, oil and gas, water and waste water, food and beverages, etc. Its chemicals business in India sells more than 30 products grouped under organic peroxides, metal alkyls and polymer additives to pharmaceutical companies, polymer producers, the composite and rubber industry.

Powered by Capital Market - Live News