Board of JK Lakshmi Cement announces record date for 100 percent dividend

24 Jul , 2022 By : Kanchan Joshi

JK Lakshmi Cement Ltd. is a mid-cap firm in the cement industry with a market valuation of Rs. 5,415.76 crore. More than 400 cement sites and more than 7000 channel partners make up the company's strong array. The product line of JK Lakshmi Cement, the first cement producer in India to develop coloured bags, meets a variety of building needs with cement categories including OPC 43 & OPC 53, Blended Cement (PPC, PSC and composite Cement). The company offers premium quality goods for customers under the strong cement brands JK Lakshmi Cement, JK Lakshmi PRO Cement, Platinum Heavy Duty Cement, JKLC Sixer Cement, and Super Sixer Weather Guard Cement. JK Lakshmi Cement has announced an equity dividend of 100.00 per cent at a face value of Rs5, or Rs5 per share, for the fiscal year ending March 2022. The dividend yield at the current share price of Rs. 458.50 is 1.09 per cent. For the purpose of dividend the company has fixed 17th August 2022 as the record date.

For the purpose of dividend, the Board of Directors of the company have said in a stock exchange filing that “Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), 2015, the Register of Member and Share Transfer Books of the Company will remain closed from Saturday, 6th August 2022 to Wednesday, 17th August 2022 (both days inclusive) for the purpose o 82nd Annual General Meeting of the Company (AGM) to be held on Wednesday, 17th August 2022 and for payment of Dividend for the Financial Year ended 31st March 2022 at the rate of Rs5 per Equity Share of Rs5/- each as recommended by the Board of Directors, if declared at the AGM. The Dividend as above will be paid immediately within three to four weeks from the date of the AGM, to the Members whose names are borne on the Company's Register of Members on 17th August 2022 or to their mandates. In respect of shares held in dematerialised form, the dividend will be paid on the basis of details of beneficial ownership to be received from the Depositories for this purpose."

The shares of JK Lakshmi Cement closed at Rs458.50 apiece level on the NSE on Friday, up by 0.27% from its previous close of Rs457.25. The stock has fallen 35.51 per cent over the past year, and on a year-to-date basis, it has dropped 21.55 per cent so far in 2022.