This multibagger IT stock sets record date for 600 percent interim dividend

06 Aug , 2022 By : Kanchan Joshi

Tanla Platforms Ltd. is a mid-cap company in the IT software industry with a market worth of Rs. 10,187.02 Crore. One of the largest providers of cloud communication solutions worldwide is the company. For the fiscal year 2022–2023, the company's board of directors has declared an interim dividend of Rs. 6 per equity share with a face value of Rs. 1 each (600%). With the market price at Rs. 748.50 currently, the dividend yield is 0.80%. The record date announced by the corporation to determine the shareholders' eligibility for dividend purposes is something that investors need to be aware of.

The Board of Directors of the company have said in a stock exchange filing that “Pursuant to Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we wish to inform that, the meeting of the Board of Directors of the company held on Thursday, August 04, 2022, commenced at 12:00 PM and concluded at 01:35 PM. The Board, inter-alia, discussed and declared Interim Dividend of Rs. 6/- per equity share of Face Value Re. 1/- each (600%) for the FY 2022-23. Fixed the record date for the purposes of the interim dividend for the FY 2022-23, as August 19, 2022 to determine the names of the equity shareholders who shall be entitled to receive Interim Dividend of the Company."

The shares of Tanla Platforms Ltd closed today at Rs748.50 apiece, down by 2.29% from the previous close. In the last 5 years, the stock price has risen from rs30.30 as of 11th August 2017 to the current price level of Rs748.50 as of 5 August 2022, 3:30 pm IST which results in a whopping multibagger return of 2,370.30%. However, in the last 1 year, the stock has fallen 18.73% and on a YTD basis, the stock has dropped 59.30% so far in 2022. In the last 6 months, the stock has fallen 55.94% and has dropped 24.46% in the last 1 month. On the NSE, the stock had touched a 52-week-high of Rs2,096.75 on 17-January-22 and a 52-week-low of Rs584.50 on 27-July-22 indicating that at the current market price the stock is trading 64.30?low the 52-week-high and 28.05?ove the 52-week-low.