Veedol Corporation is turning ex dividend today after the latest dividend announcement. The company is set to reward its shareholders with a substantial interim dividend of 1000% for the fiscal year 2024-25, The total payout comes to Rs.53 per share the record date for the same is 22nd november 2024.

A dividend is a cash reward given by the company to its shareholders from its profit. Shareholders who hold Veedol Corporation shares on the record date (November 22, 2024) will be eligible to receive the declared dividend. The dividend will be credited to their respective bank accounts within the specified timeframe. The Dividend will be paid within 30 days from the date of declaration which is expected to be by December 10, 2024.

Veedol share performance:

Veedol Corporation’s stock prices are currently down today, aligning with the broader market downturn. The stock opened at Rs. 1,790 but has since fallen by 2.38% to its current trading price of Rs. 1,713.90. This downward trend extends beyond today, with the stock price declining by 14.37% over the past month.

Despite the recent downturn, Veedol Corporation’s shares have exhibited remarkable performance over the past year. The stock reached a 52-week high of Rs. 2,800, marking a substantial increase from its 52-week low of Rs. 1,243.55. This significant price appreciation, often referred to as “multibagger returns,” highlights the stock’s potential for significant gains.

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Veedol Corporation Q2FY25 Earnings

The company recently announced its financial results for the quarter ending September 2024. The revenue for this period was reported at Rs. 364.48 crores, marking a 3.7% decrease compared to the previous quarter. The company’s net profit also experienced a decline, falling from Rs. 26.78 crores in the first quarter of FY25 to Rs. 19.50 crores in the second quarter, representing a 34% decrease.

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Company overview:

Founded in 1922 in Calcutta as Tide Water Oil Co. (India) Ltd., Veedol Corporation Ltd. has been a major performer in the global lubricant industry for over a century. Today, the company is recognized for manufacturing and marketing high-quality lubricants that cater to diverse applications across automotive and industrial sectors.

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With a substantial market capitalization of Rs. 3,500 crore, Veedol has successfully established itself in the competitive lubricant market. The company’s strong financial foundation, and proper management practices, makes it an attractive investment opportunity for those seeking exposure to the growing lubricants sector.

Story first published: Thursday, November 21, 2024, 14:24 [IST]