FINEOTEX CHEMICAL LTD Dividend 2024, Record Date, Share Price, History

News: Fineotex Chemical Limited, a prominent player in the chemical industry, has recently made headlines with its dividend declaration for the year 2024. In this article, we’ll delve into the details of the dividend, the record date, and the company’s historical performance.

Dividend Announcement

On February 14, 2024, the board of directors of Fineotex Chemical Limited announced an interim dividend of 60%, which translates to INR 1.20 per equity share (with a face value of INR 2 each). The total payout amounts to an impressive INR 13.29 Crores. Shareholders can expect to receive this dividend on or before March 12, 2024.

Record Date

The record date for this dividend is February 26, 2024. If you hold Fineotex Chemical shares on or before this date, you’ll be eligible to receive the dividend. It’s essential to mark this date in your calendar if you’re a shareholder.

Share Price Movement

Fineotex Chemical’s share price has been on an upward trajectory. As of February 20, 2024, the stock is trading at INR 396.4, reflecting a 1.50% increase over the past five days. Year-to-date, the share price has surged by 22.38%, and over the last year, it has seen a remarkable growth of 9.73%.

Historical Context

Let’s take a quick look at Fineotex Chemical’s recent milestones:

1. Q3 Earnings Results (December 31, 2023): The company reported positive earnings for the third quarter and nine months ended December 31, 2023.

2. Solar Power Plant Commissioning: Fineotex Chemical successfully commissioned a solar power plant at its Ambernath facility.

3. Credit Rating Upgrade: ICRA assigned an A rating to Fineotex Chemical’s bank loans, indicating financial stability.

4. Specialty Chemical Order: The company secured a high-value order from a leading FMCG company.

About FINEOTEX CHEMICAL LTD :

Fineotex Chemical Ltd, a key player in the chemical industry, has been making waves with its recent developments. In this article, we’ll provide a concise overview of Fineotex Chemical and its significance.

Company Profile

Fineotex Chemical Ltd, headquartered in Mumbai, India, specializes in manufacturing specialty chemicals. With a focus on textile chemicals, it caters to various industries, including textiles, leather, paper, and more. Let’s explore some key points about this company:

1. Product Range: Fineotex Chemical produces a wide range of specialty chemicals, including textile auxiliaries, enzymes, and performance chemicals. These products enhance fabric quality, dyeing processes, and overall textile performance.

2. Sustainability: The company is committed to sustainable practices. Recently, it commissioned a solar power plant at its Ambernath facility, contributing to clean energy production.

3. Financial Stability: Fineotex Chemical’s financial health is robust. ICRA, a credit rating agency, assigned an A rating to its bank loans, reflecting stability and reliability.

4. Recent Milestones:

• Q3 Earnings: The company reported positive earnings for the third quarter and nine months ended December 31, 2023.
• High-Value Order: Fineotex secured a significant order from a leading FMCG company, highlighting its market presence.

Fineotex Chemical Limited continues to make strides in the chemical sector. With a strong dividend payout and positive performance indicators, it remains an attractive investment option for shareholders. 

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