Multibagger debt-free stock shall pay 240% dividend soon: Record date inside

With a market valuation of Rs. 569.44 Cr., Morganite Crucible (India) Ltd. is a small-cap company that belongs to the industrial sector. The company Morganite Crucible (India) Limited manufactures and markets crucibles and allied refractory products. The company manufactures clay graphite crucibles, silicon carbide crucibles, and crucible accessories for carbon and graphite. Based in Aurangabad, India, Morganite Crucible (India) Limited is a division of the UK-based Morgan Advanced Materials Ltd, which has a strong history of generating high-quality crucibles and related products.

The company said in a regulatory filing that “The Board of Directors in their meeting held on May 25, 2022 is pleased to recommend a final dividend of Rs. 12/- per equity share subject to approval of the members in their 37th Annual General Meeting of the Company to be held on Tuesday, September 27, 2022.”

In order to determine the eligibility of the shareholders for the dividend purpose, the Board of Directors of the company has announced the record date and for the same, they have informed stock exchanges by saying that “Pursuant to Regulation 42 of the SEBI Listing Regulations and Section 91 of the Companies Act, 2013, the Company has fixed Tuesday, September 20, 2022 as the record date for the purpose of 37th Annual General Meeting and determining the Members eligible for dividend on equity shares, subject to approval of the members at 37th Annual General Meeting of the Company. Therefore, the Register of Members and Share Transfer books will remain closed from Wednesday, September 21, 2022 to Tuesday, September 27, 2022 (both days inclusive).”

According to data from Value Research, Morganite Crucible (India) Ltd is a debt-free company, which is the icing on the cake when you take into account the 240% dividend. On Friday, the stock closed at 1,015.00 a piece, up by 1.49% from the previous close of 1,000.05. The stock price climbed from 8.25 on July 14th, 1995 to the current market price, representing a multibagger return and an all-time high of 12,203.03 percent in the last 27 years. In the last 5 years, the stock has delivered a multibagger return of 104.78% and in the last 3 years, the stock has gained 25.54%. The stock has climbed 0.27% over the past year, and it has accelerated 8.29% YTD in 2022.

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