Tamilnadu Petroproducts Ltd. is a small-cap business in the chemicals sector with a market valuation of Rs 877.22 crores. The business produces products including Linear Alkyl Benzene, Caustic Soda, and Chlorine & Derivatives (LAB). At its meeting on May 23, 2022, the Board recommended a dividend of Rs. 3.00 per fully paid-up equity share of Rs 10 each, subject to the Members’ agreement at the ensuing AGM. At the current market price of 98.10, the dividend yield is 3.05 per cent. The firm made the record date available to the public to determine the shareholders’ eligibility for dividend payments.
The 37th Annual General Meeting of the Company is scheduled to be held on Thursday, September 29, 2022, at 3 PM (1ST) through video conferencing (“VC”) or other audio-visual means (“OAVM”), according to the announcement made by the Board of Directors in a regulatory filing.
The company’s Board of Directors announced the date for dividend payment. It stated in stock exchange filings, “As informed earlier, the Board at the meeting held on May 23, 2022, has recommended a dividend of Rs 3.00 per equity share of Rs 10 each, fully paid-up, (30 per cent) subject to the approval of the Members at the AGM. Following such approval, the dividend and warrant will be issued on Tuesday, October 25, 2022:
Today’s closing price for Tamilnadu Petroproducts Limited shares was 98.10, down 3.16 per cent from yesterday’s finish. The stock has increased by 86.68 per cent during the past five years and has generated a multi-bagger return of 185.07 per cent over the past three years.