This large cap stock fixes record date for 900 percent dividend: Check key takeaways

24 Jul , 2022 By : Kanchan Joshi

With a market capitalization of Rs. 34,754.04 crore, Honeywell Automation India Ltd. is a large-cap company that belongs to the industrial manufacturing industry. The company is a pioneer in offering process and building solutions as well as integrated automation and software solutions. It offers a broad range of products in the areas of sensing and control, environmental and combustion controls, and automation and control, as well as engineering services to clients all over the world. The record date for the 900 per cent dividend has been set by the board of HAIL, a Fortune India 500 company. Honeywell Automation has announced a 900.00% equity dividend, or Rs90 per share, for the fiscal year ending March 2022. The dividend yield at the current share price of Rs39,320.65 is 0.22 per cent.

The Board of Directors of the company has said today in a stock exchange filing that “This is further to inform you that the Record Date for the purpose of payment of final dividend will be Wednesday, August 10, 2022. As informed earlier, the Board of Directors of the Company at its meeting held on May 12, 2022, had recommended a dividend of INR 90/- (Rupees Ninety only) per Equity Share for the financial year 2021-22. The said dividend, if declared by the members at the ensuing Annual General Meeting will be paid on Friday, September 2, 2022. Further, please note that the cut-off date for determining the eligibility of members to vote through remote e-voting or e-voting at the Annual General Meeting is Wednesday, August 10, 2022. The remote e-voting period would commence on Saturday, August 13, 2022 (9.00 a.m. IST) and would end on Tuesday, August 16, 2022 (5.00 p.m. IST)."

On the NSE, Honeywell Automation India's shares closed on Friday at Rs39,320.65 per share, up 2.54% from the previous close. The stock price rose from Rs12,450.50 on July 28, 2021 to its current level over the previous five years, representing a multibagger return of 215.82 per cent. The stock has dropped 9.67 per cent over the past year, and on a year-to-date basis, it has fallen 7.50 per cent so far in 2022. The stock, which had dropped 6.86 per cent over the previous six months, has managed to rise 16.27 per cent in the past month and 9.83 per cent over the previous five trading days.