Elcid Investments: Over 6.5x dividend against share price! Penny stock to turn ex-dividend tomorrow

Elcid Investments dividend 2022: The penny stock, Elcid Investments, which declared more than 6.5 times dividend against its share market price will start trading ex-dividend from tomorrow, Thursday, September 22.

The NBFC holds 2.95% stake in Asian Paints and the value of one share of Elcid Investments in in the paint company stands at Rs 4.75 lakh. Source: Pixabay

The penny stock, Elcid Investments, which declared more than 6.5 times dividend against its share market price will start trading ex-dividend from tomorrow, Thursday, September 22. Elcid Investments dividend record date 2022 to ascertain eligibility of shareholders is September 23. The investment firm had declared a dividend of Rs 15 per share for eligible shareholders. Elcid Investments market price as on Wednesday stands at Rs 2.31 per share.

The company, which caters to diversified commercial services space, holds around three per cent stake in Asian Paints, according to Zee Business Research analyst Arman Nahar.

"The total liquidity of shares is around two lakh, of which 1.5 lakh shares are held by promoters. This leaves with around 50,000 shares of Elcid Investments with retail and other categories of shareholders. The NBFC holds 2.95% stake in Asian Paints. The value of one share of Elcid Investments in Asian Paints stands at Rs 4.75 lakh," says Nahar.

TRENDING NOW

Incorporated in 1981 in Mumbai, Elcid Investments Limited is a Non-Banking Finance Company (NBFC), whose business is to make investments in shares, debentures, mutual funds etc.

As per June '22 shareholding pattern of the company on the BSE, the promoters hold 49.79% stake in the company, while 50.21% stake is with the public.

The share which trades only around its ex-date last closed at a price of Rs 2.31 per share. Previously, it traded at Rs 17 per share on September 14, 2021 ahead of turning ex-dividend on 21 September 2021. The stock traded at a 52-week low value of Rs 2.10 per share 25 May 2022, while it touched 52-week high of Rs 17 per share on 14 November 2021. Elcid Investment share price gave a negative return of 86% in the past one year as on September 21.

TAGS: