Akzo Nobel Dividend 2024: Dulux Paints manufacturing company will give a dividend of Rs 50 per share, December quarter result was also excellent

News: Akzo Nobel’s Dividend 2024: The Dulux Paints manufacturing company is spreading cheer among its shareholders by announcing a dividend of Rs 50 per share. Along with this, their December quarter results have also impressed.

Today’s stock market saw a bright spot with Akzo Nobel India Limited, the company behind Dulux Paints, announcing a dividend of ₹50 per share and revealing strong quarterly results. After a period of stagnation, Akzo Nobel India’s shares surged by 7.35%, with a remarkable 12.5% return over the past week. Let’s delve into the details of the dividend declaration and quarterly performance to grasp the full picture of Akzo Nobel India’s shares.

On Tuesday, Akzo Nobel India’s shares closed at Rs 2729, but on Wednesday, they opened higher at Rs 2752. The shares quickly rose to a maximum of Rs 3076.40 before settling at 2936.95 by day end, marking a significant 7.62% increase from the previous day.

Impressive Returns and Performance:

• Over the past week, the company’s shares have surged by 12.05%, reflecting a strong performance.
• Looking at longer periods, Akzo Nobel India’s shares have delivered returns of 20.16% over the past three months, 32.17% over the past year, and a substantial 278.11% over the past decade.
• Notably, the company’s shares have seen a remarkable 46% return from their 52-week low to their current high, showcasing steady growth.

Dividend Announcement:

Akzo Nobel India Limited has announced a dividend of ₹50 per share, translating to a significant return of 500% for shareholders. Shareholders holding 1 share will receive ₹50, while those holding 10 shares will receive ₹500, and so forth.

Record Date and Payment Details:

The company has set the record date for the dividend as February 16, 2024. Shareholders must hold their shares in their demat accounts until this date to qualify for the dividend. Additionally, the dividend amount will be credited to shareholders’ demat accounts within 30 days from February 6, 2024, ensuring timely distribution of returns.

Business Operations:

Akzo Nobel India Limited specializes in manufacturing, selling, and distributing colors and related products. Its diverse portfolio includes:

• Decorative Paints for homes and buildings.
• Automotive & Specialty Coatings for vehicles and specialty industries.
• Powder Coatings, known for their eco-friendliness and cost-effectiveness.
• Industrial Coatings for various industrial applications.
  The company owns renowned brands like Dulux and Interpon, earning the trust of customers worldwide.

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December Quarter Results:

The company’s December quarter results are promising:

• Net revenue increased from Rs 986.80 crores in December 2022 to Rs 1032.70 crores in December 2023.
• Net profit rose from Rs 97.40 crores in December 2022 to Rs 113.80 crores in December 2023, with a healthy profit margin of 16.84%.
• Despite a debt-free status and robust financials, the company’s stock performance is underwhelming. Trading at 9.98 times above its book value, the company faces challenges such as sluggish sales growth over the past five years, standing at 6.93%.

While Akzo Nobel India Limited continues to deliver solid financial performance and attractive dividends, its stock performance reflects both positive and negative aspects that investors should consider.