Auto Components News

Multibagger stock sets record date for 150% dividend, takes the yield to 2.18%

In the auto ancillaries industry, LG Balakrishnan & Bros Ltd (LGB) is a small-cap company with a market valuation of 2,152.73 crore. Under the well-known brand name “ROLON,” LGB is a leading manufacturer of automotive chains, sprockets, and chain tensioners. Quality blanked products, machined gears and accessories are also produced by LGB. With its Automotive Timing and Drive Chains, Sprockets, Auto Tensioners, Guides, Fine Blanked Components, Precision Machined Parts, Belts & Rubber Components, L.G.B. is a market leader in transmission products. LG Balakrishnan and Brothers have announced an equity dividend of 150.00 per cent at a face value of 10, or 15 per share, for the fiscal year ending March 2022. The dividend yield at the current share price of 685.75 is 2.18 per cent.

The Board of Directors of the company have said today in a regulatory filing that the 66th Annual General Meeting (AGM) of the members of LG Balakrishnan & Bros Ltd (LGB) will be held on Thursday 25th Day of August 2022 at 10.30 A.M. The Board said that the 66th AGM will be held “To declare a Dividend of 15/- per equity share for the financial year ended March 31, 2022. Dividend as recommended by the Board of Directors, if declared at the ensuing Annual General Meeting will be paid on or before September 20, 2022 from the date of declaration, to those Members whose names appear on the Register of Members in respect of shares held in physical form as well as in respect of shares held in electronic form as per the details received from the depositories for this purpose as at the close of the business hours on Thursday, August 18, 2022.”

The shares of LG Balakrishnan & Bros Ltd ended today’s trading session on the BSE at 685.75 per share, up 0.23 per cent from yesterday’s close of 684.20. The stock has gained 34.32 per cent over the past year, and on a YTD basis, it has risen by nearly 5 per cent so far in 2022. The stock price of LGB has risen over the past three years from 227.85 on July 29, 2019, to its current level of 685.75, representing a multibagger return of over 197 per cent.

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