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

Penny stock Elcid Investments, which declared a dividend of more than 6.5 times the market price of its shares, will start trading ex-dividend starting tomorrow, Thursday, September 22. Elcid Investments’ 2022 dividend record date to determine shareholder eligibility is September 23. The investment The company had declared a dividend of Rs 15 per share to eligible shareholders. The market price of Elcid Investments on Wednesday stands at Rs 2.31 per share.

According to Zee Business Research analyst Arman Nahar, the company, which caters to diversified business services space, has around three percent stake in Asian Paints.

“The total liquidity of the shares is about two lakh, of which 1.5 lakh shares are held by promoters. This leaves about 50,000 shares of Elcid Investments with retailers and other categories of shareholders. The NBFC has a 2.95% stake in Asian Paints. The value of one share of Elcid Investments in Asian Paints is Rs 4.75 lakh,” says Nahar.

Incorporated in the year 1981 in Mumbai, Elcid Investments Limited is a non-banking financial company (NBFC), its business is to make investments in shares, debentures, mutual funds etc.

According to the company’s shareholding pattern in the June 22 EEB, the promoters hold 49.79% of the company, while 50.21% belongs to the public.

The stock which is only trading around its previous date closed at Rs 2.31 per share. It was previously trading at Rs 17 per share on September 14, 2021 before going ex-dividend on September 21, 2021. The stock traded as low as Rs 2.10 per share on May 25 2022, while it touched 52 weeks. high of Rs 17 per share on Nov 14, 2021. Elcid Investment share price gave a negative return of 86% in the last one year as of Sep 21.

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