Fedders Lloyd Corp drops ex-dividend

Fedders Lloyd Corporation lost 2.4% to Rs 28.50 at 14:23 IST on BSE as the stock turned ex-dividend today, 4 December 2013, for dividend of Rs 1 per share for the year ended 30 June 2013.

Meanwhile, the S&P BSE Sensex was down 77.17 points or 0.37% at 20,777.75.

On BSE, 46,000 shares were traded in the counter as against average daily volume of 41,964 shares in the past one quarter.

The stock hit a high of Rs 29.30 and a low of Rs 28.30 so far during the day.

The stock had underperformed the market over the past one month till 3 December 2013, declining 7.45% compared with the Sensex's 1.81% fall. The scrip had also underperformed the market in past one quarter, advancing 0.69% as against Sensex's 14.37% gain.

Before turning ex-dividend, the stock offered a dividend yield of 3.42% based on the closing price of Rs 29.20 on Tuesday, 3 December 2013.

Fedders Lloyd Corporation's net profit surged 44.4% to Rs 8.84 crore on 34.5% growth in net sales to Rs 273.21 crore in Q1 September 2013 over Q1 September 2012.

Fedders Lloyd manufactures window air conditioners, split/ducatable air conditioners, package air conditioners, chillers, transport air conditioners and heat exchangers.

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