Multibagger Panama Petrochem announces dividend

Panama Petrochem while announcing its Q2 result on Monday, declared a Rs 3 per share dividend for FY23.

“We would like to inform you that at the board meeting held today, the Directors have declared an interim dividend of Rs 3 per equity share of Rs 2 each (150%) of the Company,” said the company’s filing with the exchange.

“The interim dividend shall be paid on December 6, 2022 to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, November 24, 2022 which is the Record Date fixed for the purpose,” added the filing.

The record date for determining shareholders' eligibility is fixed as November 24, while the dividend payment date is December 6.

Panama Petrochem is a multibagger stock with a 3-year return of 363%. The stock’s 52-week high and low are Rs 359.5 and Rs 214.45, respectively.

Panama Petrochem is a smallcap company with a m-cap of Rs 1,860 crore. The company is among the leading manufacturers and exporters of petroleum specialty products.