Huge Returns Alert: Multibagger Stock Surges 2997%! Own it Before the Dividend Record Date?

Ramkrishna Forgings, a major player in auto component and equipment manufacturing, is gearing up to reward its shareholders. The company has just announced the declaration of a second interim dividend (Ramkrishna Forgings Dividend) payment for the financial year 2023–24. Shareholders are in for a treat as each stock will receive a dividend payout.

According to the latest update, Ramkrishna Forgings will be paying a dividend of 50% on each stock, with a face value of Rs 2. This translates to Re 1 per share. The announcement was made by the Board of Directors in a filing with the BSE (Bombay Stock Exchange) following their meeting held on Thursday, May 2, 2024.

The company has also set the record date for determining shareholder eligibility for the dividend. Shareholders as of Friday, May 10, 2024, will be entitled to the upcoming dividend payment. Ramkrishna Forgings shares will trade ex-dividend on the same day.

Ramkrishna Forgings has a solid track record of rewarding its investors with dividends. In 2023 alone, the company paid dividends of Rs 1, Rs 0.50, and Rs 0.50 on three separate occasions. Additionally, it paid a dividend of Rs 0.50 in 2022.

In terms of share price performance, Ramkrishna Forgings has demonstrated impressive growth over the years. With a market capitalization of Rs 13,700.12 on the BSE, the company is a constituent of the S&P BSE 500. Investors have enjoyed significant returns, with the stock offering a return of 14.88% in the last six months, 129.97% in the last year, and an astounding 2997.06% in the last decade.